Manitowoc (MTW) Tops Q2 EPS by 43c; Raises Outlook

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Go back to Manitowoc (MTW) Tops Q2 EPS by 43c; Raises Outlook

The Manitowoc Company Reports Second-Quarter 2023 Financial Results; Raises Full-Year 2023 Guidance

August 7, 2023 4:11 PM EDT

Second-Quarter 2023 Highlights

Net sales of $602.8 million, up 21.2% year-over-year Adjusted EBITDA(1) of $60.4 million, margin percentage of 10.0% Non-new machine sales of $150.4 million, up 8.1% year-over-year

MILWAUKEE--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE: MTW) (the Company or Manitowoc) today reported second-quarter net income of $20.2 million, or $0.57 per diluted share. Second-quarter adjusted net income(1) was $26.6 million, or $0.75 per diluted share.

Net sales increased 21.2% year-over-year to $602.8 million and were favorably impacted by $3.1 million from changes in foreign currency exchange rates. Adjusted EBITDA(1) was $60.4... More