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 (MNTX), a leader in truck cranes and industrial equipment, has announced a brand consolidation initiative aimed at enhancing its global identity and aligning with its growth strategy, 'Elevating Excellence.' This rebranding will streamline product offerings into five core categories: lifting solutions, aerial work platforms, electric industrial cranes, and rental solutions. CEO Michael Coffey emphasized the initiative's role in improving customer engagement and dealer support. New products reflecting this branding will be showcased at ConExpo 2023 in Las Vegas from March 14-18, 2023, signaling the company's commitment to innovation and market growth.
Manitex International (Nasdaq: MNTX) has appointed Paolo Balugani as the new General Manager of Manitex Valla, its electric crane division. Balugani, with over 32 years in the crane industry, previously served as CEO of Palfinger Platform Italy. His role is pivotal for advancing Manitex's growth strategy, particularly in launching Valla's electric cranes in North America and developing new products for the global market. Manitex Valla, known for carbon-neutral lifting solutions since 1945, aims to leverage Balugani's expertise for its strategic initiatives.
Manitex International (MNTX) announced a 48% year-over-year revenue growth for Q4 2022, reaching
Manitex International (NASDAQ: MNTX) announced the addition of
Manitex International (Nasdaq:MNTX) reported a 27.7% increase in Q3 2022 net revenues, reaching $65 million, up from $50.9 million in Q3 2021. Gross margin rose to 19.0% compared to 15.8% in Q3 2021. Despite a net loss of $3.1 million or $(0.15) per diluted share, adjusted net income was $1 million or $0.05 per share, a recovery from last year's loss. Adjusted EBITDA rose to $5.2 million, accounting for 8.0% of sales. The backlog reached $207 million, an 82.3% increase YoY. The company is focused on improving efficiency and anticipates further enhancements in 2023.
Manitex International (NASDAQ:MNTX) will release its third quarter 2022 results on November 3, 2022, after market close. CEO Michael Coffey will lead a conference call at 4:30 PM ET, which will include prepared remarks and a live Q&A session for investors. Interested participants can join the call using designated numbers for the U.S. and international callers. A replay will be available for 90 days. Manitex is recognized for its range of highly engineered mobile cranes and specialized industrial equipment.
Manitex International (NASDAQ:MNTX) announced a strategic realignment of its Illinois operations aimed at enhancing the distribution of its Oil & Steel and Valla product lines in North America. This reorganization includes transitioning its subsidiary, Crane & Machinery, to a direct channel distributor starting January 1, 2023. The company anticipates market potential in excess of $200 million annually in these categories. Leadership asserts that the changes will bolster customer support and facilitate growth without incurring significant additional expenses.
Manitex International has appointed Richard Mills as President of Manitex North America, overseeing North American manufacturing and product distribution operations. Mills brings over 30 years of experience in manufacturing and executive leadership, with a focus on OEM specialty equipment. The re-alignment aims to enhance operational excellence, improve production velocities, profitability, and cash flows in response to a growing demand-driven backlog. CEO Michael Coffey emphasized the importance of unified strategy and collaboration for reaching their global productivity and margin objectives.
Manitex International, a global provider of mobile cranes and industrial equipment, has secured a $3 million continuation order for articulated cranes from an international military agency. This follows a successful previous delivery, showcasing customer confidence in Manitex's products. With a backlog of $214 million as of June 30, 2022, the company expects favorable performance metrics in 2022 compared to 2021, and anticipates continued growth into 2023. The cranes will be assembled in Texas, utilizing supplies from its facilities in Italy and Romania.
Manitex International (Nasdaq:MNTX), a provider of truck cranes and industrial equipment, announced CEO Michael Coffey's participation in the Sidoti September Small-Cap Virtual Conference on September 21-22, 2022. Coffey will present at 10:45 am ET on September 21. Investors can book one-on-one meetings via the Sidoti conference portal. The group presentation will also be available on Manitex's Investor Relations site.
FAQ
What is the current stock price of Manitex International (MNTX)?
What is the market cap of Manitex International (MNTX)?
What does Manitex International, Inc. specialize in?
What are the main segments of Manitex International, Inc.?
Where does Manitex International, Inc. generate most of its revenue?
What products are included under the Manitex division?
What types of markets does the Manitex Liftking division serve?
Does Manitex International offer any after-sales services?
How has Manitex International improved its parts ordering and tracking systems?
What is the significance of the Manitex division in the industry?
What types of lifting equipment does Manitex International produce?
What recent achievements has Manitex International accomplished?
