Manitowoc (MTW) Misses Q1 EPS by 5c

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Go back to Manitowoc (MTW) Misses Q1 EPS by 5c

The Manitowoc Company Reports First-Quarter 2021 Results

May 5, 2021 4:10 PM EDT

Manitowoc reports net sales of $354.3 million; Adjusted EBITDA(1)of $21.1 million; orders of $473.6 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 first-quarter net loss of ($3.1) million, or ($0.09) per diluted share. First-quarter adjusted net loss(1) was ($2.2) million, or ($0.06) per diluted share.

Net sales in the first quarter increased 7.6% year-over-year to $354.3 million and were favorably impacted by $15.4 million from changes in foreign currency exchange rates. Adjusted EBITDA(1) of $21.1 million, or 6.0% of net sales, increased $4.8 million over the... More