Manitowoc (MTW) Misses Q3 EPS by 3c

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Go back to Manitowoc (MTW) Misses Q3 EPS by 3c

The Manitowoc Company Reports Third-Quarter Financial Results Consistent with Previously Announced Preliminary Third-Quarter Results

November 1, 2016 4:17 PM EDT

Company accelerating restructuring activities to drive long-term cash flow generation and margin expansion

MANITOWOC, Wis.--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW) (Manitowoc) today reported third-quarter 2016 net sales of $349.8 million versus $438.2 million in the comparable period in 2015.

On a GAAP basis, the company reported a net loss of ($140.0) million, or ($1.01) per diluted share, in the third-quarter 2016 versus net income of $4.8 million, or $0.04 per diluted share, in the third-quarter 2015. The companys loss from continuing operations in the third-quarter 2016 and 2015 was ($138.2) million and ($29.6) million, respectively.

Non-GAAP adjusted net loss from... More