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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 (NYSE: MTW) will announce its Q4 2021 and full-year 2021 results on February 21, 2021, at approximately 5:00 p.m. ET. Following this, a conference call to discuss the results and future outlook is scheduled for February 22, 2022, at 10:00 a.m. ET. Investors and interested parties can access the call via a webcast on the company's website. Manitowoc is a leading provider of engineered lifting solutions, offering a range of products under various brand names.
The Manitowoc Company (NYSE: MTW) announced its 2021 Investor Day, scheduled for December 13, 2021, from 9:00 a.m. to 11:30 a.m. EST at the New York Stock Exchange and via webcast. President and CEO Aaron Ravenscroft will present the company’s strategies for long-term growth. Investors can access the webcast through Manitowoc’s Investor Relations website, where a replay will also be available. Founded in 1902, Manitowoc specializes in engineered lifting solutions, including mobile telescopic cranes and tower cranes.
The Manitowoc Company (NYSE: MTW) announced that President and CEO Aaron H. Ravenscroft, along with CFO David J. Antoniuk, will participate in a fireside chat at the Credit Suisse 9th Annual Virtual Industrials Conference on December 1, 2021. The session is scheduled to begin at 12:50 p.m. ET and will last until 1:20 p.m. ET. Interested investors can access the live audio webcast and related materials on Manitowoc’s Investor Relations website, with replays available post-event.
The Manitowoc Company (NYSE: MTW) announced that President and CEO Aaron H. Ravenscroft and CFO David J. Antoniuk will present at the Baird Virtual Industrial Conference on November 10, 2021. The presentation is scheduled for 1:25 to 1:55 p.m. ET, with a link for the live audio webcast available on Manitowoc’s Investor Relations website. The presentation materials will also be accessible before the event and the webcast will be available for replay thereafter. Manitowoc has over 118 years of experience in providing lifting solutions.
The Manitowoc Company (NYSE: MTW) reported a third-quarter net sales of $404.5 million, marking a 13.8% increase year-over-year. Orders reached $535.2 million, reflecting a 37.3% growth. The company experienced a loss of $(0.2 million or $(0.01 per diluted share), while adjusted net income was $2.2 million. Adjusted EBITDA decreased to $20.0 million, down $4.8 million from last year due to inflation and supply chain challenges. The backlog as of September 30 totaled $890.6 million, up 91.6% year-over-year.
The Manitowoc Company, Inc. (NYSE: MTW) will release its third-quarter 2021 results on November 3, 2021, after market close. A conference call to discuss the results and outlook is scheduled for November 4, 2021, at 10:00 a.m. ET. The call will be accessible via a webcast on the Manitowoc website, with a replay available afterwards. Manitowoc has over 118 years in providing engineered lifting solutions, and offers a range of products including hydraulic cranes and boom trucks.
The Manitowoc Company (NYSE: MTW) announced the election of Amy R. Davis and Robert W. Malone to its Board of Directors, effective immediately. This move increased the board size from eight to ten members. Ms. Davis, currently President of New Power Business at Cummins, has extensive experience in sales and management. Mr. Malone, President of Parker-Hannifin's Filtration Group, brings significant operational expertise. Chairman Kenneth W. Krueger emphasized that both will provide valuable perspectives for Manitowoc's strategic growth.
The Manitowoc Company (NYSE: MTW) will host its 2021 Investor and Analyst Meeting on December 13, 2021, at 9:00 a.m. EST at the New York Stock Exchange and via webcast. CEO Aaron H. Ravenscroft and senior management will discuss the company’s strategies for sustainable long-term growth. More details, including webcast information, will be provided closer to the event date and can be found on the company’s Investor Relations website.
Founded in 1902, Manitowoc is a leading global provider of cranes and lifting solutions.
H&E Equipment Services has completed the sale of its crane business to a wholly-owned subsidiary of Manitowoc Company for approximately $130 million. The cash proceeds will fund facility expansions, rental fleet investments, and general corporate purposes. CEO Brad Barber stated that this divestment allows H&E to focus exclusively on its equipment rental strategy, potentially enhancing revenue and margins. Additionally, the sale of two earthmoving distribution branches in Arkansas was finalized, maintaining H&E's operations in Louisiana, bringing their rental operations to 101 branches across 24 states.
The Manitowoc Company has completed the acquisition of the crane business from H&E Equipment Services for approximately $130 million. This strategic move is intended to enhance Manitowoc's aftermarket services and expand its market reach through the establishment of MGX Equipment Services, LLC, which will focus on sales, service, parts, and financing for cranes. The acquisition aligns with Manitowoc's goal of increasing shareholder value and improving customer support.
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