Welcome to our dedicated page for Manitex International news (Ticker: MNTX), a resource for investors and traders seeking the latest updates and insights on Manitex International stock.
Manitex International, Inc. (Symbol: MNTX) is a prominent North American manufacturer specializing in engineered lifting equipment within the expansive $110 billion U.S. industrial machinery industry. The company's core business focuses on the design, manufacture, and distribution of a diverse range of lifting solutions.
Under the Manitex division, the company is a formidable contender in the $400 million North American boom truck market. The Manitex family encompasses a variety of products, including boom trucks, SkyCrane aerial platforms, sign cranes, and USTC trolley boom products.
The Manitex Liftking division delivers a comprehensive array of rough terrain forklifts, specialized carriers, heavy material handling transporters, and steel mill equipment. These products serve both commercial and military markets, cementing the company's reputation for versatility and reliability.
In addition to its primary products, Manitex International also offers a wide range of support services, such as replacement parts, service support, and training programs. This commitment to after-sales service ensures that customers receive the utmost value from their investments in Manitex equipment.
Manitex International operates through two main segments: Lifting Equipment and Rental Equipment. The Lifting Equipment segment is the primary revenue driver, contributing significantly to the company's financial health. Geographically, the United States remains the dominant market for the company's products.
Recent achievements for Manitex International include advancements in parts ordering and tracking systems, further enhancing customer satisfaction and operational efficiency. The company continues to innovate and expand its product offerings to meet the evolving needs of the industrial machinery sector.
Manitex International, Inc. (Nasdaq: MNTX) reported strong first quarter 2024 results, with net revenue of $73.3 million, a +8.1% increase from the prior year. The company's gross profit was $16.9 million (+17.2%) with a gross margin of 23.0% (+179 basis points). Adjusted EBITDA was $8.4 million (+33.5%), and the company reiterated its full-year 2024 financial guidance. Manitex focuses on operational excellence and cost reductions, enhancing profitability and customer satisfaction.
Manitex International, Inc. (NASDAQ: MNTX) will participate in the Sidoti Micro-Cap Virtual Conference with CEO Michael Coffey and CFO Joseph Doolan. The event offers investors one-on-one meetings with MNTX executives, showcasing their expertise in truck cranes, industrial equipment, and construction equipment rental solutions.
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