Jefferies Raises Price Target on Manitowoc (MTW) Following 4Q Earnings and Update
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The Manitowoc Company, Inc. Announces the Launch of MTW Foodservice Escrow Corp.’s $425 Million Offering of Senior Notes Due 2024
January 29, 2016 7:00 AM ESTMANITOWOC, Wis.--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW) (Manitowoc) announced today that, in connection with the previously announced spin-off of its wholly owned subsidiary, Manitowoc Foodservice, Inc. (Manitowoc Foodservice) as an independent public company (the Spin-Off), MTW Foodservice Escrow Corp., a wholly owned subsidiary of Manitowoc Foodservice, intends to commence a private offering (the Offering) of $425,000,000 in aggregate principal amount of MTW Foodservice Escrow Corp.s senior notes due 2024 (the Notes). There can be no assurance that the Offering will be completed.
Manitowoc Foodservice intends to use the net proceeds of the Offering,... More
The Manitowoc Company, Inc. Announces the Launch of MTW Cranes Escrow Corp.'s $250 Million Offering of Senior Secured Second Lien Notes Due 2024
January 29, 2016 7:00 AM ESTMANITOWOC, Wis.--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW) (Manitowoc) announced today that, in connection with the previously announced spin-off of its wholly owned subsidiary, Manitowoc Foodservice, Inc. (Manitowoc Foodservice) as an independent public company (the Spin-Off), MTW Cranes Escrow Corp., a wholly owned subsidiary of Manitowoc, intends to commence a private offering (the Offering) of $250,000,000 in aggregate principal amount of MTW Cranes Escrow Corp.'s senior secured second lien notes due 2024 (the Notes). There can be no assurance that the Offering will be completed.
Manitowoc intends to use the net proceeds of the Offering,... More
The Manitowoc Company Reports Fourth-Quarter Results and Provides 2016 Guidance
January 28, 2016 5:11 PM EST
Positive momentum continues in Foodservice; Crane operations
stabilizing;
Activities continue for planned business
separation in Q1 2016
MANITOWOC, Wis.--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW) today reported fourth-quarter 2015 sales of $934.8 million, a decrease of 9.9 percent, compared to sales of $1.0 billion in the fourth quarter of 2014. On a GAAP basis, the company reported net earnings of $43.8 million, or $0.32 per diluted share, in the fourth quarter versus net earnings of $33.6 million, or $0.25 per diluted share, in the fourth quarter of 2014. Both periods included special items. Excluding... More
