Manitowoc (MTW) Tops Q3 EPS by 39c
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The Manitowoc Company Reports Third-Quarter 2020 Financial Results
November 4, 2020 4:22 PM ESTManitowoc reports Net Sales of $355.6 million; Adjusted EBITDA(1) of $24.8 million
MILWAUKEE--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW), (the Company or Manitowoc) a leading global manufacturer of cranes and lifting solutions, today reported a third-quarter net loss of $(0.4) million, or $(0.01) per diluted share. Third-quarter adjusted net income(1) was $3.5 million, or $0.10 per diluted share.
Net sales in the third quarter decreased 20.6% year-over-year to $355.6 million, favorably impacted by $7.4 million from changes in foreign currency exchange rates. Adjusted EBITDA(1) of $24.8 million, or 7.0% of sales, declined $18.0 million year-over-year mainly due to... More
