Financial News

Manitowoc Earnings: What To Look For From MTW

MTW Cover Image

Crane and lifting equipment company Manitowoc (NYSE:MTW) will be reporting results tomorrow after the bell. Here’s what to expect.

Manitowoc missed analysts’ revenue expectations by 6% last quarter, reporting revenues of $562.1 million, down 6.8% year on year. It was a disappointing quarter for the company, with underwhelming earnings guidance for the full year.

Is Manitowoc a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Manitowoc’s revenue to be flat year on year at $516.5 million, slowing from the 14.6% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.06 per share.

Manitowoc Total Revenue

The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Manitowoc has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Manitowoc’s peers in the heavy machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Douglas Dynamics’s revenues decreased 10.2% year on year, missing analysts’ expectations by 8.4%, and PACCAR reported a revenue decline of 6.4%, topping estimates by 1.4%. PACCAR traded down 5.3% following the results.

Read our full analysis of Douglas Dynamics’s results here and PACCAR’s results here.

Investors in the heavy machinery segment have had steady hands going into earnings, with share prices flat over the last month. Manitowoc is up 4.4% during the same time and is heading into earnings with an average analyst price target of $13.30 (compared to the current share price of $10.04).

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