Manitowoc (MTW) Tops Q1 EPS by 31c

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Go back to Manitowoc (MTW) Tops Q1 EPS by 31c

The Manitowoc Company Reports First-Quarter 2023 Financial Results

May 2, 2023 4:02 PM EDT

First-Quarter 2023 Highlights

Net sales of $508.3 million, up 10.7% year-over-year Diluted net income per share of $0.46, up $0.37 year-over-year Adjusted EBITDA(1) of $45.1 million, margin percentage of 8.9% Non-new machine sales of $151.0 million, up 16.7% year-over-year

MILWAUKEE--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW) (the Company or Manitowoc) today reported net income of $16.5 million, or $0.46 per diluted share.

Net sales increased 10.7% year-over-year to $508.3 million and were unfavorably impacted by $11.2 million from changes in foreign currency exchange rates. Adjusted EBITDA(1) was $45.1 million, an... More