Manitowoc reports Q1 EPS (18c), consensus (9c)

Reports Q1 revenue $470.9M, consensus $484.7M. “First-quarter results exceeded our expectations. We began to see signs of a turnaround in our Europe tower crane business with machine orders up 68% year-over-year, marking the third consecutive quarter of year-over-year growth. Our non-new machine sales for the first quarter grew 11% year-over-year to $161 million. Although the tariff situation remains fluid, our team continues to find different ways to mitigate the impact and, therefore, we are maintaining our guidance,” said Aaron Ravenscroft, CEO.