Manitowoc reports Q2 EPS 8c, consensus 18c

Reports Q2 revenue $539.5M, consensus $585.0M. “During the quarter, we achieved a solid 6% year-over-year growth in orders driven by strong performance in our MGX distribution business and continued momentum in the European tower crane market, despite the headwinds from tariffs. Looking at the balance of 2025, although many trade deals have been announced, we expect it will take six months for the crane market in the U.S. to find a new equilibrium. Therefore, we have adjusted our build schedules for the second half of the year and anticipate finishing the year at the lower end of our guidance range,” comments Aaron H. Ravenscroft, CEO. “While we expect the Great Trade Reset to continue through the balance of 2025, we see green shoots in the market: the general European economy is improving as Germany has announced a massive infrastructure fund and an advantageous depreciation program; the tower crane business in Europe continues to rebound; the Middle East remains active and we have started to see several improvements in Asia Pacific; and, in the U.S., crane rental houses remain busy and dealer inventory is contracting. All of this bodes well for the crane industry once the tariff environment stabilizes.”