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The Manitowoc Company, Inc. (MTW) is a leading global provider of engineered lifting solutions. Headquartered in the United States, Manitowoc designs, manufactures, and distributes a diverse range of cranes and lifting equipment. The company's extensive product portfolio includes mobile telescopic cranes, tower cranes, lattice-boom crawler cranes, and boom trucks, marketed under prominent brand names such as Grove, Manitowoc, National Crane, Potain, Shuttlelift, and Manitowoc Crane Care.
Manitowoc's engineered lifting solutions cater to a wide array of industries, serving dealers, rental companies, contractors, and government entities. Key sectors include energy production and distribution, petrochemical and industrial sectors, infrastructure projects, and commercial and residential construction. This broad industry application reinforces Manitowoc's significance in the global market.
Geographically, Manitowoc reports its operations under three major segments: the Americas, Europe and Africa, and the Middle East and Asia-Pacific. Notably, the Americas segment contributes the majority of the company's revenue, highlighting its strong presence and market dominance in this region.
One of the company's significant subsidiaries, Potain India Pvt Ltd, operates as a mechanical or industrial engineering company located in Andhra Pradesh, India. This strategic location enhances Manitowoc's footprint in the Asia-Pacific market, providing localized support and innovative solutions to meet regional demands.
Recent achievements and ongoing projects underline Manitowoc's dedication to innovation and excellence in the lifting solutions domain. The company continuously invests in research and development to enhance product capabilities and efficiency, ensuring it meets the evolving needs of its diverse client base.
Financially, Manitowoc is committed to maintaining a robust fiscal condition through strategic initiatives and operational efficiency. The company's focus on delivering high-quality products and exceptional customer service is pivotal to its sustained success and market leadership.
The Manitowoc Company, Inc. (NYSE: MTW) will release its first-quarter 2023 results on May 2, 2023, after market close. Following this, a conference call to discuss the results and future outlook is scheduled for May 3, 2023, at 10:00 a.m. ET.
Investors can access the live conference call via webcast on the Manitowoc website in the 'Events & Presentations' section. A replay will also be available at the same link. Manitowoc, established in 1902, specializes in providing engineered lifting solutions across various markets, offering product lines including mobile hydraulic cranes, tower cranes, and more.
Manitowoc Company (NYSE: MTW) reported a fourth-quarter 2022 net sales of $621.6 million, a 24.9% increase year-over-year, and adjusted EBITDA of $51.5 million, up 50.6%. Despite a diluted loss per share of $(4.10), which included a non-cash impairment charge of $(4.89), adjusted earnings were $0.74. The full year saw net sales of $2.0 billion to $2.1 billion expected for 2023, with adjusted EBITDA between $130 million and $160 million. Fourth-quarter orders reached $708.0 million, a 15.1% increase, contributing to a backlog of $1.056 billion.
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