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Manitowoc Company (MTW)
NYSE:MTW
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Manitowoc Company
(NYSE:MTW)
Rating:60Neutral
Price Target:
$10.00
▼(-1.28% Downside)
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. SPDR S&P 500 ETF (SPY)
Market Cap
$356.72M
Dividend YieldN/A
Average Volume (3M)334.54K
Price to Earnings (P/E)8.1
Beta (1Y)1.74
Revenue Growth-1.96%
EPS Growth423.46%
CountryUS
Employees4,800
SectorIndustrials
Sector Strength73
IndustryAgricultural - Machinery
Share Statistics
EPS (TTM)0.08
Shares Outstanding35,459,106
10 Day Avg. Volume301,564
30 Day Avg. Volume334,536
Financial Highlights & Ratios
PEG RatioN/A
Price to Book (P/B)N/A
Price to Sales (P/S)N/A
P/FCF RatioN/A
Enterprise Value/Market Cap2.59
Enterprise Value/Revenue0.43
Enterprise Value/Gross Profit2.48
Enterprise Value/Ebitda9.55
Forecast
1Y Price Target
$11.00Price Target Upside8.59% Upside
Rating ConsensusModerate Sell
Number of Analyst Covering1
Manitowoc Company Business Overview & Revenue Model
Company DescriptionThe Manitowoc Company (MTW) is a leading global manufacturer of cranes and lifting equipment, with a strong focus on innovation and technology. The company operates primarily in the construction and industrial sectors, producing a wide range of products including mobile cranes, tower cranes, and specialized lifting equipment. Manitowoc is dedicated to providing high-quality solutions that enhance productivity and safety on job sites worldwide.
How the Company Makes MoneyManitowoc generates revenue primarily through the sale of cranes and related equipment, which includes both new and used machinery. The company has a diversified revenue model, consisting of several key streams: equipment sales, aftermarket parts and services, and rental operations. The sales of new cranes constitute a significant portion of their revenue, while aftermarket services, including maintenance and repair parts, provide a steady income stream due to ongoing customer relationships. Additionally, Manitowoc has established partnerships with distributors and dealers to expand its market reach, which further contributes to its earnings. The company's emphasis on technological advancements and customer support also plays a vital role in attracting and retaining clients, ultimately impacting its financial performance.
Manitowoc Company Earnings Call Summary
Earnings Call Date:Aug 08, 2025
(Q2-2025)
| % Change Since: |
Next Earnings Date:Nov 05, 2025
Earnings Call Sentiment Neutral
The earnings call reflected a mixed performance with notable achievements in cost mitigation, safety, and specific market segments such as the European tower crane market and Middle East growth. However, it was overshadowed by challenges including revenue decline, tariff-related uncertainties impacting the North American market, increased SG&A expenses, and concerns over cash flow and leverage. Despite some positive developments, the overall sentiment is cautious due to significant external and internal pressures.Q2-2025 Updates
Positive Updates
Improved Tariff Mitigation Strategy
Initially projected $60 million in incremental tariffs for the year with plans to mitigate 80% to 90% of these costs. The full-year gross impact of tariffs is now expected to be $35 million with a 90% mitigation rate.
Recordable Injury Rate Improvement
Achieved a recordable injury rate (RIR) of 0.67 in the first half of the year, a new safety record, showing continued progress towards a goal of zero injuries.
Strong Performance in European Tower Crane Market
New tower crane orders were up 104% year-over-year, marking the fourth consecutive quarter of year-over-year order improvements.
Middle East Market Growth
Significant infrastructure projects in Saudi Arabia and UAE with large capacity tower crane orders, including a 16-crane order for the Stargate UAE data center project.
Cranes+50 Strategy Success
Non-new machine sales were $162 million during the quarter, up 10% year-over-year, demonstrating momentum in the Cranes+50 strategy.
Negative Updates
Revenue and Adjusted EBITDA Decline
Q2 2025 net sales were $540 million, a decrease of 4% from a year ago. Adjusted EBITDA was $26 million, down $10 million year-over-year.
Challenges in North American Market
Uncertainty around tariffs leading to dealers and crane rental houses delaying purchasing decisions, impacting demand.
Increased SG&A Expenses
SG&A was $87 million in the quarter, up $4 million year-over-year, primarily driven by the Bauma trade show and other employee-related costs.
Cash Flow and Leverage Concerns
Used $68 million of cash in operating activities during the quarter, with net leverage ratio increasing to approximately 4x. Free cash flow expected at the low end of the $10 million to $15 million range.
Company Guidance
During the Manitowoc Company second quarter 2025 earnings call, the company reported $540 million in revenue and $26 million in adjusted EBITDA, with orders totaling $454 million and a backlog of $729 million. Non-new machine sales increased by 10% year-over-year to $162 million. The company revised its full-year gross impact of tariffs to $35 million, down from an earlier estimate of $60 million, and expects to mitigate 90% of these costs. Despite headwinds in the U.S. market due to tariff uncertainties, European and Middle Eastern markets showed signs of optimism, with notable growth in tower crane orders and infrastructure developments. The company achieved a recordable injury rate of 0.67 and continues to focus on its CRANES+50 strategy to strengthen the aftermarket business. For the full year, Manitowoc anticipates adjusted EBITDA at the low end of its guidance range of $120 million to $145 million, and a free cash flow of $10 million to $15 million, down from an original forecast of $45 million.Manitowoc Company Financial Statement Overview
Summary
Manitowoc Company shows moderate financial performance with strengths in cash flow generation and balance sheet stability. However, declining revenue and modest profitability margins indicate challenges in operational efficiency and growth.Income Statement
The income statement of Manitowoc Company shows a mixed performance. The TTM (Trailing-Twelve-Months) figures indicate a gross profit margin of 17.27% and a net profit margin of 2.09%. However, the revenue has declined from the previous year, reflecting a negative growth trend. The EBIT margin stands at 2.32%, indicating moderate operational efficiency. Despite the challenges, there is a positive EBITDA margin of 4.42%, showing some strength in earnings before interest, taxes, depreciation, and amortization.65
Positive
Balance Sheet
The balance sheet reflects a stable financial position with a debt-to-equity ratio of 0.70, suggesting a balanced approach to leveraging. The return on equity (ROE) is modest at 6.91%, indicating moderate profitability for shareholders. The equity ratio is sound at 36.94%, showing a healthy proportion of equity financing. The company maintains a reasonable level of total assets relative to its liabilities.70
Positive
Cash Flow
The cash flow statement highlights a significant growth in free cash flow, increasing from $3.5 million to $48.4 million, indicating improved cash generation. The operating cash flow to net income ratio is 2.06, showing strong cash flow relative to net income. However, the free cash flow to net income ratio is 1.08, reflecting limited excess cash after capital expenditures. The company has managed to improve its cash generation capabilities.60
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 2.13B | 2.18B | 2.23B | 2.03B | 1.72B | 1.44B |
| Gross Profit | 371.60M | 375.00M | 425.20M | 364.50M | 307.20M | 254.70M |
| EBITDA | 96.60M | 114.30M | 139.20M | -23.50M | 94.40M | 66.10M |
| Net Income | 44.90M | 55.80M | 39.20M | -123.60M | 11.00M | -19.10M |
Balance Sheet | ||||||
| Total Assets | 1.88B | 1.66B | 1.71B | 1.62B | 1.78B | 1.60B |
| Cash, Cash Equivalents and Short-Term Investments | 32.90M | 48.00M | 34.40M | 64.40M | 75.40M | 128.70M |
| Total Debt | 524.60M | 437.20M | 432.30M | 431.50M | 448.70M | 349.80M |
| Total Liabilities | 1.20B | 1.02B | 1.10B | 1.08B | 1.11B | 960.00M |
| Stockholders Equity | 681.30M | 640.10M | 603.30M | 537.80M | 662.40M | 643.50M |
Cash Flow | ||||||
| Free Cash Flow | 52.10M | 3.50M | -14.40M | 15.10M | 35.80M | -61.40M |
| Operating Cash Flow | 14.00M | 49.20M | 63.00M | 76.90M | 76.20M | -35.10M |
| Investing Cash Flow | -48.30M | -40.40M | -71.80M | -58.00M | -226.30M | -25.80M |
| Financing Cash Flow | 28.00M | 6.70M | -21.40M | -29.90M | 100.90M | -14.80M |
Manitowoc Company Technical Analysis
Neutral
10.13
Price Trends
11.54
Negative
10.77
Negative
10.20
Negative
Market Momentum
-0.41
Negative
43.50
Neutral
64.85
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MTW, the sentiment is Neutral. The current price of 10.13 is above the 20-day moving average (MA) of 9.82, below the 50-day MA of 11.54, and below the 200-day MA of 10.20, indicating a neutral trend. The MACD of -0.41 indicates Negative momentum. The RSI at 43.50 is Neutral, neither overbought nor oversold. The STOCH value of 64.85 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | $8.90B | 13.96 | 15.52% | 1.43% | 0.41% | -3.90% | |
77 Outperform | $3.39B | 18.37 | 9.45% | 1.28% | -0.35% | -63.44% | |
71 Outperform | $1.07B | 23.54 | 7.02% | 1.10% | 1.17% | ― | |
64 Neutral | $10.73B | 15.74 | 7.60% | 2.01% | 2.75% | -15.09% | |
60 Neutral | $356.72M | 8.06 | 7.05% | ― | -1.96% | 423.46% | |
58 Neutral | $427.72M | 55.98 | -1.74% | 1.88% | -5.75% | -133.96% | |
58 Neutral | $668.11M | 30.26 | 4.39% | 3.77% | -7.11% | -87.41% |
* Industrials Sector Average
Performance Comparison
MTW
Manitowoc Company
10.13
1.14
12.68%
ASTE
Astec
47.28
17.40
58.23%
CMCO
Columbus Mckinnon
14.89
-15.06
-50.28%
OSK
Oshkosh
139.57
43.78
45.70%
TEX
Terex
52.97
3.23
6.49%
HY
Hyster-Yale Materials Handling
37.70
-17.04
-31.13%
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.
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.
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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.