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Manitowoc Company (MTW)
NYSE:MTW
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Manitowoc Company
(NYSE:MTW)
73Outperform
Positive Factors
Long-term Outlook
Management expressed long-term optimism on interest rate cuts, megaprojects, and Middle East activity.
Middle East Projects
The level of activity in the Middle East remains very strong, with Saudi projects and residential construction in Dubai moving forward.
Negative Factors
Earnings Performance
EPS and EBITDA came in below consensus with persistent European tower crane softness a continued headwind.
Operating Environment
The near-term operating environment remains challenging due to geopolitical environment, upcoming elections, and anticipation of further rate cuts.
Order Decline
Orders were down 20% year/year to $424.7 million, with book-to-bill at 0.82x.
Manitowoc Company (MTW) vs. S&P 500 (SPY)
Market Cap
$410.44M
Dividend YieldN/A
Average Volume (3M)334.83K
Price to Earnings (P/E)9.2
Beta (1Y)1.80
Revenue Growth-2.75%
EPS Growth65.38%
CountryUS
Employees4,800
SectorIndustrials
Sector Strength91
IndustryAgricultural - Machinery
Share Statistics
EPS (TTM)-0.16
Shares Outstanding35,443,462
10 Day Avg. Volume398,725
30 Day Avg. Volume334,826
Financial Highlights & Ratios
PEG Ratio<0.01
Price to Book (P/B)0.55
Price to Sales (P/S)0.00
P/FCF Ratio102.07
Enterprise Value/Market Cap1.82
Enterprise Value/Revenue0.09
Enterprise Value/Gross Profit1.99
Enterprise Value/Ebitda1.39
Forecast
1Y Price Target
$10.33Price Target Upside-9.78% Downside
Rating ConsensusModerate Sell
Number of Analyst Covering3
Manitowoc Company Business Overview & Revenue Model
Company DescriptionThe Manitowoc Company, Inc. provides engineered lifting solutions in the Americas, Europe, Africa, the Middle East, and the Asia Pacific. It designs, manufactures, and distributes crawler-mounted lattice-boom cranes under the Manitowoc brand; a line of top-slewing and self-erecting tower cranes under the Potain brand; mobile hydraulic cranes under the Grove, Shuttlelift, and National Crane brands; and hydraulic boom trucks under the National Crane brand. The company also provides crane product parts and services; and crane rebuilding, remanufacturing, and training services. Its crane products are used in various applications, including energy production/distribution and utilities; petrochemical and industrial projects; infrastructure, such as road, bridge, and airport construction; and commercial and high-rise residential construction. The company serves a range of customers, including dealers, rental companies, contractors, and government entities in the petrochemical, industrial, commercial construction, power and utilities, infrastructure, and residential construction end markets. The Manitowoc Company, Inc. was founded in 1902 and is headquartered in Milwaukee, Wisconsin.
How the Company Makes MoneyManitowoc Company generates revenue through the sale of its crane products and related services. The company's primary revenue stream comes from manufacturing and selling a wide array of cranes to industries worldwide. In addition to product sales, Manitowoc also earns income from offering aftermarket support services, including crane maintenance, parts supply, and equipment upgrades. The company benefits from its extensive global distribution network and strong customer relationships, which contribute to its sales and service revenue. Strategic partnerships and joint ventures in key markets also play a role in enhancing Manitowoc's market presence and financial performance.
Manitowoc Company Financial Statement Overview
Summary
Manitowoc Company exhibits moderate financial health with stable profitability and a balanced capital structure. The company has improved net margins and return on equity, but revenue growth is a concern. Cash flow generation needs enhancement to support sustainable growth.Income Statement
The company's income statement reveals a stable gross profit margin of approximately 17.2% TTM, with a slight decrease from the previous year. Net profit margin improved to 2.6% TTM from 1.8% last year, indicating better cost management. However, revenue decreased by 2.2% compared to the previous year, reflecting a contraction. EBIT and EBITDA margins are modest at 2.8% and 4.6% TTM, respectively, showing limited operational efficiency.65
Positive
Balance Sheet
The balance sheet demonstrates moderate leverage with a debt-to-equity ratio of 0.68, indicating a balanced capital structure. Return on equity improved to 8.7% TTM, reflecting enhanced profitability. The equity ratio stands at 38.6% TTM, providing a stable financial base, but there's room for improvement in asset utilization.70
Positive
Cash Flow
Cash flow analysis shows a positive shift with a free cash flow turnaround to $1.9 million TTM from negative in the previous year. However, the operating cash flow to net income ratio is low at 0.85, indicating challenges in cash conversion. The free cash flow to net income ratio is significantly lower, reflecting high capital expenditure needs.60
Neutral
| Breakdown | ||||
| Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|
| Income Statement | Total Revenue | |||
| 2.18B | 2.23B | 2.03B | 1.72B | 1.44B | Gross Profit |
| 375.00M | 425.20M | 364.50M | 307.20M | 254.70M | EBIT |
| 51.80M | 92.40M | 84.80M | 46.50M | 38.60M | EBITDA |
| 114.30M | 139.20M | -23.50M | 94.40M | 81.50M | Net Income Common Stockholders |
| 55.80M | 39.20M | -123.60M | 11.00M | -19.10M |
| Balance Sheet | Cash, Cash Equivalents and Short-Term Investments | |||
| 48.00M | 34.40M | 64.40M | 75.40M | 128.70M | Total Assets |
| 1.66B | 1.71B | 1.62B | 1.78B | 1.60B | Total Debt |
| 437.20M | 419.30M | 419.90M | 436.40M | 339.30M | Net Debt |
| 389.20M | 384.90M | 355.50M | 361.00M | 210.60M | Total Liabilities |
| 1.02B | 1.10B | 1.08B | 1.11B | 960.00M | Stockholders Equity |
| 640.10M | 603.30M | 537.80M | 662.40M | 643.50M |
| Cash Flow | Free Cash Flow | |||
| 3.50M | -14.40M | 15.10M | 35.80M | -61.40M | Operating Cash Flow |
| 49.20M | 63.00M | 76.90M | 76.20M | -35.10M | Investing Cash Flow |
| -40.40M | -71.80M | -58.00M | -226.30M | -25.80M | Financing Cash Flow |
| 6.70M | -21.40M | -29.90M | 100.90M | -14.80M |
Manitowoc Company Technical Analysis
Positive
11.45
Price Trends
8.92
Positive
9.33
Positive
9.62
Positive
Market Momentum
0.87
Negative
77.26
Negative
96.73
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTW, the sentiment is Positive. The current price of 11.45 is above the 20-day moving average (MA) of 9.29, above the 50-day MA of 8.92, and above the 200-day MA of 9.62, indicating a bullish trend. The MACD of 0.87 indicates Negative momentum. The RSI at 77.26 is Negative, neither overbought nor oversold. The STOCH value of 96.73 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MTW.
Manitowoc Company Risk Analysis
Manitowoc Company disclosed 29 risk factors in its most recent earnings report. Manitowoc Company reported the most risks in the “Production” category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Manitowoc Company Peers Comparison
Overall Rating
UnderperformOutperform
Sector (64)
Financial Indicators
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
76 Outperform | $6.61B | 10.91 | 15.24% | 1.84% | 5.95% | -10.59% | |
76 Outperform | $757.61M | 7.60 | 21.56% | 3.28% | -0.32% | -35.10% | |
75 Outperform | $3.17B | 13.09 | 13.85% | 1.42% | -2.78% | -51.72% | |
73 Outperform | $410.44M | 9.19 | 7.21% | ― | -2.75% | 65.38% | |
66 Neutral | $953.78M | 63.86 | 2.33% | 1.24% | 1.99% | -39.02% | |
64 Neutral | $4.44B | 11.99 | 5.16% | 249.23% | 4.01% | -11.87% | |
61 Neutral | $511.59M | 56.14 | 1.07% | 1.57% | -2.02% | -80.76% |
* Industrials Sector Average
Performance Comparison
MTW
Manitowoc Company
11.45
-1.38
-10.76%
ASTE
Astec
41.54
8.46
25.57%
CMCO
Columbus Mckinnon
17.65
-27.28
-60.72%
OSK
Oshkosh
102.43
-13.81
-11.88%
TEX
Terex
48.33
-13.00
-21.20%
HY
Hyster-Yale Materials Handling
42.06
-30.84
-42.30%
Manitowoc Company Earnings Call Summary
Earnings Call Date:May 06, 2025
(Q1-2025)
| % Change Since: 37.29%|
Next Earnings Date:Aug 06, 2025
Earnings Call Sentiment Positive
The earnings call highlighted strong revenue and order performance, with significant growth in non-new machine sales and a recovering European market. However, the company faces challenges with tariff-related cost increases, a decline in adjusted EBITDA, and ongoing trade investigations. Despite these challenges, the overall sentiment leans positive due to the strong highlights and strategic initiatives.Q1-2025 Updates
Positive Updates
Exceeded Revenue and EBITDA Expectations
The company generated $471 million in revenue and $22 million in adjusted EBITDA, exceeding expectations.
Strong Orders and Backlog
Orders were a strong $610 million, and the backlog ended the period just short of $800 million.
Growth in Non-New Machine Sales
Non-new machine sales were $161 million, up 11% year-over-year.
European Tower Crane Market Recovery
Machine orders in the European tower crane business were up nearly 70% year-over-year.
North American Market Growth
First-quarter orders through the third-party dealer channel in North America increased 35% year-over-year.
AI Integration into Processes
AI was integrated into the improvement process, saving 2,000 man hours and avoiding $400,000 in costs.
Record Safety Metrics
The company achieved the best quarter ever in terms of safety metrics.
Negative Updates
Tariff-Related Cost Increases
Modeling $60 million of incremental costs due to tariffs, with plans to cover 80% to 90% of these costs.
Adjusted EBITDA Decline
Adjusted EBITDA for the quarter was $22 million, a decrease of 31% year-over-year.
Challenges in the Middle East Market
Small year-over-year decline in first-quarter orders in the Middle East, though deal activity remains robust.
Ongoing Antidumping Investigation
The Department of Commerce initiated an investigation into tower cranes coming from Japan due to an antidumping claim.
Company Guidance
In the first quarter of fiscal year 2025, The Manitowoc Company reported strong financial performance with $471 million in revenue and $22 million in adjusted EBITDA, surpassing expectations. Orders reached $610 million, and the backlog was nearly $800 million. Non-new machine sales increased by 11% year-over-year, totaling $161 million. The company anticipates $60 million in incremental costs due to tariffs, with mitigation plans covering 80% to 90% of these costs. Manitowoc maintained its full-year guidance, projecting net sales between $2.175 billion and $2.275 billion, and adjusted EBITDA ranging from $120 million to $145 million. European tower crane orders rose by 70% year-over-year, marking the third consecutive quarter of growth, indicating a market recovery. The company's CRANES+50 strategy continues to strengthen its aftermarket business, with non-new machine sales hitting a record $645 million over the last 12 months.Manitowoc Company Corporate Events
Business Operations and Strategy
Manitowoc Company Releases New Investor Presentation
Neutral
May 8, 2025
On May 8, 2025, The Manitowoc Company, Inc. released an investor presentation intended for meetings with investors, analysts, and other interested parties. The presentation, while made available, is not considered filed under the Securities Exchange Act of 1934 or incorporated by reference into any filing under the Securities Act of 1933, unless specifically referenced.
Spark’s Take on MTW Stock
According to Spark, TipRanks’ AI Analyst, MTW is a Neutral.
Manitowoc’s overall stock score is driven by its moderate financial performance, particularly its balanced capital structure and improved margins. The strong earnings call contributed positively with robust order and revenue performance, despite challenges like tariff-related costs. The stock’s valuation appears attractive based on the low P/E ratio. Technical indicators are mixed, with some bearish signals. Overall, the stock has potential but faces several hurdles.
To see Spark’s full report on MTW stock, click here.
Executive/Board ChangesShareholder Meetings
Manitowoc Company Holds 2025 Annual Shareholders Meeting
Neutral
May 7, 2025
On May 6, 2025, The Manitowoc Company, Inc. held its 2025 Annual Meeting of Shareholders, where key decisions were made, including the election of eight directors and the approval of the 2025 Omnibus Incentive Plan. Additionally, Deloitte & Touche LLP was ratified as the independent public accounting firm for the fiscal year ending December 31, 2025, and the compensation of named executive officers was approved, reflecting shareholder support for the company’s strategic direction.
Spark’s Take on MTW Stock
According to Spark, TipRanks’ AI Analyst, MTW is a Neutral.
Manitowoc’s stock score reflects a blend of moderate financial health, bearish technical momentum, and strong valuation. While the company shows potential for undervaluation, market challenges and revenue contraction pose risks. The cautious optimism from the earnings call highlights some growth areas but also underscores competitive pressures and regional weaknesses.
To see Spark’s full report on MTW stock, click here.
Glossary
OutperformA stock rated as "Outperform" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock is likely to deliver higher returns compared to the average returns of other stocks in the same sector or market index. Investors might consider this stock a good buying opportunity.
NeutralA stock rated as "Neutral" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly attractive nor unattractive for investment. Investors may consider holding onto the stock, as it is not expected to either significantly outperform or underperform the market.
UnderperformA stock rated as "Underperform" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests that the stock may deliver lower returns compared to the average returns of other stocks in the same sector or market index. Investors might consider selling the stock or avoiding it as an investment.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.