Crane maker Manitowoc misses Q2 estimates, sees ending 2025 at lower end of guidance
Overview
Manitowoc Q2 net sales down 4% yr/yr, missing analyst expectations
Adjusted EPS for Q2 misses estimates, reflecting market challenges
Company orders rise 6% driven by MGX distribution and European market
Outlook
Manitowoc expects U.S. crane market to stabilize in six months
Company anticipates finishing 2025 at lower end of guidance
Manitowoc sees positive trends in Europe, Middle East, Asia Pacific
Company adjusts build schedules for second half of 2025
Result Drivers
MGX DISTRIBUTION - Strong performance in MGX distribution business contributed to a 6% increase in orders, per CEO Aaron Ravenscroft
EUROPEAN MARKET - Continued momentum in the European tower crane market supported order growth despite tariff challenges
NON-NEW MACHINE SALES - Non-new machine sales rose 9.7% year-over-year, partially offsetting the decline in overall net sales
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Sales | Miss | $539.50 mln | $585 mln (3 Analysts) |
Q2 Adjusted EPS | Miss | $0.08 | $0.18 (4 Analysts) |
Q2 EPS | $0.04 | ||
Q2 Adjusted Net Income | Miss | $2.80 mln | $6.54 mln (3 Analysts) |
Q2 Net Income | $1.50 mln | ||
Q2 Adjusted EBITDA | Miss | $26.30 mln | $35.80 mln (2 Analysts) |
Q2 Gross Profit | $99 mln | ||
Q2 Orders | $453.90 mln |
Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 2 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the heavy machinery & vehicles peer group is "buy."
Wall Street's median 12-month price target for Manitowoc Company Inc is $11.00, about 13.4% below its August 6 closing price of $12.47
The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 13 three months ago
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