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Overview of Manitowoc Co Inc
Manitowoc Co Inc is an established industrial engineering firm that designs and manufactures engineered lifting solutions across a broad spectrum of crane products. Operating through a diversified portfolio, the company produces mobile telescopic cranes, tower cranes, lattice‐boom crawler cranes, and boom trucks, serving a range of market segments including construction, energy, petrochemical, industrial, and commercial infrastructure projects. Utilizing industry-specific technologies and engineering techniques, Manitowoc leverages its multiple iconic brand names to address complex lifting needs with precision and reliability.
Core Business Areas
At its core, Manitowoc focuses on providing high-quality, durable crane systems that are indispensable to various construction and engineering projects worldwide. Its product offerings are utilized by contractors, rental companies, dealers, and government entities, reflecting the company’s broad market influence. Each product is designed to meet precise engineering standards, ensuring not only operational efficiency but also longevity and safety in challenging environments.
Global Operations and Market Position
Manitowoc operates through three reportable segments covering the Americas, Europe and Africa, and the Middle East and Asia-Pacific. This geographic diversification allows the company to tailor its products and services to specific regional construction and industrial needs. By balancing its product innovation with strategic regional insights, Manitowoc has established itself as an authoritative provider of engineered lifting solutions across globally competitive markets.
Product and Brand Differentiation
The company’s portfolio includes multiple well-known brands such as Grove, Manitowoc, National Crane, Potain, and Shuttlelift. This diversification under different brand names enables Manitowoc to address various market sectors with targeted product features. For instance, the Potain brand, which has connections to its engineering presence in regions like Andhra Pradesh in India, is notable for its innovative approach to tower cranes and mechanical lifting systems. The consolidation of these brands under one corporate structure highlights the company’s strategic emphasis on reliability, technological advancement, and industry expertise.
Engineering Excellence and Innovation
Manitowoc places a strong emphasis on advanced engineering and innovative design to meet the rising demands of modern infrastructure projects. Using a meticulous approach to research and development, the company continuously refines its product designs to enhance operational performance and safety. Specialized engineering processes paired with rigorous quality assurance practices underpin the reliability of its lifting solutions, making them a preferred choice for complex applications in heavy industrial and construction environments.
Competitive Landscape and Industry Expertise
Within the highly competitive market of lifting solutions and heavy machinery, Manitowoc differentiates itself through a blend of advanced engineering, brand diversity, and a robust global footprint. Its focus on specialized product design and an in-depth understanding of customer needs allows it to maintain a competitive edge. The company’s operations are structured to efficiently address regional demands while leveraging its comprehensive expertise in mechanical and industrial engineering, underscoring its noted reputation among industry professionals.
Operational Efficiency and Business Model
Manitowoc’s integrated business model is designed to combine product excellence with operational efficiency. The company generates revenue through direct sales, dealer networks, and service contracts while ensuring consistent quality control and customer support across all segments. This model not only reinforces its market position but also demonstrates the company's commitment to performance-driven engineering and reliable service delivery.
Commitment to Industry Standards and Trustworthiness
Emphasizing E-E-A-T principles, Manitowoc provides transparent, expertise-driven insights into its operational practices and engineering capabilities. Its adherence to rigorous quality standards and continuous product improvement fosters trust among customers and partners alike. The company’s methodical approach to product development and market engagement reflects its longstanding experience and deep roots in the heavy machinery and construction sectors.
The Manitowoc Company (NYSE: MTW) announced that it received an Information Request from the U.S. EPA regarding cranes sold between January 1, 2014, and July 31, 2017. The company is providing information related to 1,420 engines and its participation in the TPEM program. Manitowoc recorded a $13.9 million charge in Q4 2021, leading to a total liability of $14.9 million. The potential statutory penalties under the Clean Air Act are estimated at $174 million. Manitowoc maintains strong defenses against these allegations, although final resolutions may materially impact its finances.
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.
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