UPDATE: Manitowoc (MTW) Tops Q3 EPS by 10c, Revenues Beat; Offers FY18 Revenue Outlook Below Consensus

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Go back to UPDATE: Manitowoc (MTW) Tops Q3 EPS by 10c, Revenues Beat; Offers FY18 Revenue Outlook Below Consensus

The Manitowoc Company Reports Third-Quarter 2018 Financial Results

November 5, 2018 4:05 PM EST

Orders grow 22% year-over-year to $458.1 million; GAAP Operating Income increased by 72% year-over-year

MILWAUKEE--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW), a leading global manufacturer of cranes and lifting solutions, today reported third-quarter GAAP operating income of $16.9 million, $21.5 million on an adjusted basis and diluted EPS (DEPS) on a GAAP basis of $0.32 and $0.20 on an adjusted basis.

Third-quarter orders of $458.1 million were up 22% from the comparable period in 2017. Backlog totaled $700.2 million at September30, 2018, up 50% from the third-quarter 2017.

Third-quarter 2018 net sales were $450.1 million versus $399.4 million in 2017; a year-over-year increase of... More