Manitowoc (MTW) Tops Q1 EPS by 8c, Offers FY Guidance

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Go back to Manitowoc (MTW) Tops Q1 EPS by 8c, Offers FY Guidance

The Manitowoc Company Reports First-Quarter 2019 Financial Results

May 9, 2019 4:05 PM EDT

Manitowoc delivers strong first quarter; Adjusted EBITDA improves 73% year-over-year; Raises full-year guidance

MILWAUKEE--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW), (the Company or Manitowoc) a leading global manufacturer of cranes and lifting solutions, today reported first-quarter Adjusted EBITDA(1) of $29.6 million compared to $17.1 million last year, representing a $12.5 million or 73% improvement. First-quarter GAAP net loss was $26.7 million or $0.75 per diluted share, which included a $25.0 million charge, or $0.70 per diluted share impact, associated with the Companys refinancing of its credit facilities. Adjusted net income (loss)(1) was $2.7 million, or $0.08 per diluted share,... More