Manitowoc shares rally 12% after company swings to adjusted profit [MarketWatch]
Manitowoc Company, Inc. (The) (MTW)
Last manitowoc company, inc. (the) earnings: 2/6 04:31 pm
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Source: MarketWatch
Manitowoc shares rally 12% after company swings to adjusted profit Shares of Manitowoc Co. MTW, +2.63% rose more than 12% late Monday after the maker of cranes for construction, oil and gas, and other industries swung to an adjusted quarterly profit and reported sales above forecasts. Manitowoc said it earned $500,000 in the quarter, breaking even on a per-share basis, versus a loss of $5.8 million, or 4 cents a share, a year ago. Adjusted for one-time items, Manitowoc said it earned 5 cents a share, compared with 3 cents a share a year ago. Net sales reached $394.6 million, compared with $457.7 million in the second quarter of 2016. Analysts polled by FactSet had expected an adjusted loss of 4 cents a share on sales of $396 million. Most of the decline in sales was thanks to lower crawler crane shipments in the Americas as the company had shipped a "significant volume" of these cranes in the prior year, and lower rough-terrain crane shipments in the Americas and in the Middle East
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News
- The Manitowoc Company Schedules First-quarter 2024 Earnings Announcement and Conference CallBusiness Wire
- The Manitowoc Company, Inc. (NYSE: MTW) had its price target lowered by analysts at Barclays PLC from $15.00 to $12.00. They now have an "underweight" rating on the stock.MarketBeat
- Bear of the Day: Manitowoc (MTW) [Yahoo! Finance]Yahoo! Finance
- The Manitowoc Company, Inc. (NYSE: MTW) had its price target lowered by analysts at JPMorgan Chase & Co. from $17.00 to $15.00. They now have a "neutral" rating on the stock.MarketBeat
- Is the Options Market Predicting a Spike in Manitowoc (MTW) Stock? [Yahoo! Finance]Yahoo! Finance
MTW
Earnings
- 2/14/24 - Miss
MTW
Sec Filings
- 3/26/24 - Form ARS
- 3/25/24 - Form 4
- 3/25/24 - Form 4
- MTW's page on the SEC website