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, a provider of truck cranes and industrial equipment, has unveiled the new TC850 Series truck-mounted crane at CONEXPO-Las Vegas. The TC85159 model boasts an 85-ton base rating at a 10’ radius and features a 5-section, 159’ boom with optional lattice jib, allowing for an impressive max height of 228’. This crane's innovative design offers enhanced stiffness for high-duty applications and a 360-degree operational area without needing a front outrigger, enabling swift setup in tight spaces. Manitex has already secured orders from CraneWorks and is optimistic about the model's reception in the crane industry.
Manitex International (NASDAQ: MNTX) has unveiled its ECSY-Electric Crane System at CONEXPO-Las Vegas, marking a significant innovation in the construction and industrial equipment sector. This electric crane is designed for low noise and emissions-sensitive environments, featuring a self-contained design powered by a 480-volt electric motor. The ECSY system can be easily transferred between cranes in rental fleets equipped with the necessary setup. Manitex emphasizes the importance of customer feedback in this development, signaling its commitment to meet evolving market demands for efficient and sustainable solutions.
Manitex International, Inc. (Nasdaq: MNTX) reported robust financial results for Q4 and full-year 2022, with net revenue increasing by 47.6% to $78.8 million in Q4, driven by strong organic growth. The total backlog rose to $230.2 million, up 22% year-over-year. Despite a net loss of $4.3 million for the full year, adjusted EBITDA surged 165% to $21.3 million. The company introduced its Elevating Excellence strategy aimed at enhancing operational efficiency and profitability, with ambitious 2025 targets forecasting revenues between $325 million and $360 million. Net leverage improved to 3.9x, indicating strong liquidity positioning.
Manitex International, Inc. (Nasdaq: MNTX), a leader in truck cranes and industrial equipment, announced that CEO Michael Coffey and CFO Joseph Doolan will attend the 35th Annual Roth Conference from March 12-14, 2023 in Dana Point, California. The executives will hold one-on-one meetings with registered investors during the event.
Manitex specializes in manufacturing mobile truck cranes, industrial lifting solutions, and construction equipment, with a distribution network across North America and Europe. The company serves various markets including construction and heavy industry.
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