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) has announced a record order valued at approximately $18 million for Oil & Steel aerial platforms from a major utility company in Italy. This order highlights the company's success in expanding into the utility sector, with product deliveries expected to commence in the second half of 2022. Additionally, Manitex secured a $3 million order for knuckle boom cranes from the same client. CEO Steve Filipov praised the team's efforts in enhancing product quality and customer diversification across Europe.
Manitex International, Inc. (Nasdaq:MNTX) announced a 39.7% increase in net sales for Q3 2021, reaching $50.9 million, compared to $36.5 million in Q3 2020. Gross profit rose 20.7% to $8.0 million, though gross margin declined to 15.8% from 18.3% due to increased material costs. The company reported a net loss of $1.1 million, an improvement from $1.4 million a year ago. Adjusted EBITDA increased to $1.6 million. Backlog was $113.6 million, reflecting strong demand despite ongoing supply chain challenges.
Manitex International (NASDAQ:MNTX) will announce its Third Quarter 2021 financial results on November 8, 2021, post-market close. CEO Steve Filipov will host a conference call at 4:30 PM ET to discuss the results. Interested participants can call 855-327-6837 from the US or 631-891-4304 internationally. A replay will be available using the passcode 10017230. Manitex offers a range of cranes and industrial equipment and focuses on niche markets with engineered products.
Manitex International reported a strong second quarter 2021, with net sales rising to $60.0 million from $37.1 million year-over-year. Net income from continuing operations was $5.4 million or $0.27 per share, a significant recovery from a net loss of $(2.4 million) or $(0.12) per share in Q2 2020. Adjusted EBITDA increased 121% to $4.2 million, and backlog saw a substantial increase of 64% to $111.2 million. The company highlights growth in European markets and anticipates a strong finish to the year, despite supply chain challenges.
Manitex International, Inc. (NASDAQ:MNTX) is set to release its Second Quarter 2021 financial results after market close on August 3, 2021. A conference call will follow at 4:30 PM ET, led by CEO Steve Filipov, to discuss the financial results with investors. Participants can join via specific dial-in numbers provided for both the U.S. and international callers. A replay will be available until August 10, 2021. Manitex specializes in highly engineered mobile cranes and industrial equipment, continuously expanding its product portfolio through strategic acquisitions.
Manitex International, Inc. (NASDAQ:MNTX) will participate in the Investor Summit held virtually on May 17-18, 2021. CEO Steve Filipov and CFO Joe Doolan will be available for one-on-one meetings throughout the conference. A presentation will be broadcast on May 17 at 10:15 AM ET. Interested investors can register for the conference and arrange meetings through the Investor Summit platform. Manitex specializes in providing engineered mobile cranes and specialized industrial equipment, manufacturing its products in the USA and Europe.
Manitex International reported a first-quarter 2021 net sales of $47.2 million, a slight decrease from $48.7 million in Q1 2020. The net loss decreased significantly to $(0.8 million) or $(0.04) per share, compared to $(7.0 million) or $(0.36) per share in the previous year.
Adjusted EBITDA rose 24% to $1.9 million, with a backlog at a five-year high of $107 million. Despite challenges in logistics and supply chains, the company anticipates higher EBITDA margins throughout 2021.
Manitex International, Inc. (MNTX) has secured $1.7 million in follow-on orders for knuckleboom cranes from an international military entity, with production expected to begin in the second half of 2021. CEO Steve Filipov highlighted the company’s commitment to expanding its presence in the global truck-mounted articulating crane market, noting a strong order intake across diverse sectors including military, forestry, utilities, and construction. This order follows an initial contract announced in September, reinforcing expectations for ongoing business relationships with this client.
Manitex International, Inc. (Nasdaq: MNTX) will release its First Quarter 2021 financial results on May 6, 2021, after market close. A public conference call will follow at 4:30 PM ET, hosted by CEO Steve Filipov. Investors can join by dialing 800-683-3233 or +1 303-223-4369 internationally. A replay will be available until May 13, 2021. Manitex specializes in mobile cranes and industrial equipment, serving niche markets with products manufactured in the USA and Europe. The company aims to expand its portfolio through development and acquisitions.
Manitex International (NASDAQ:MNTX) reported its fourth quarter 2020 results, revealing net sales of $45.2 million, down from $53.1 million in Q4 2019. The company faced a net loss of $(1.8 million), compared to a loss of $(0.1 million) in the previous year. However, there was a sequential sales increase of 24% from $36.5 million in Q3 2020. Adjusted EBITDA rose to $1.5 million, and the backlog reached $82.2 million, the highest in over three years. The company paid down $15.5 million in convertible notes, closing the year with $29.9 million in net debt.
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