Manitex International Earnings: Here’s Why Investors are Ambivalent Now

Manitex International, Inc. (NASDAQ:MNTX) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. /p>

Manitex International, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 10% to $0.22 in the quarter versus EPS of $0.20 in the year-earlier quarter.

Revenue: Rose 19.24% to $62.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Manitex International, Inc. reported adjusted EPS income of $0.22 per share. By that measure, the company beat the mean analyst estimate of $0.21. It beat the average revenue estimate of $62.46 million.

Quoting Management: Chairman and Chief Executive Officer, David Langevin commented “The record sales and profits we recorded in the second quarter results demonstrates continued execution of our niche product strategy. The global economic environment, as has been widely reported remains subdued, and while we are cautious we believe our businesses will continue to perform on a solid basis in this challenging economic landscape. The primary driver of our growth remains our crane business. And as we recently reported, we believe that our new 70 ton crane product will have a significant impact for us in the future. We would also like to point out the significance of the $37 million Navy contract award which we recently announced which will also provide further growth for us in 2014. Finally, in the second quarter, our cost structure, margins and EBITDA ratios all returned to more normal levels when compared to the first quarter. With this cost concentration and a steady improvement in economics along with the potential benefit from the acquisition of Sabre which we announced today, we should turn in good results for the year and put us on sound footing going into 2014.”

Key Stats (on next page)…

Revenue increased 5.09% from $59.57 million in the previous quarter. EPS increased 37.5% from $0.16 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $0.22 to a profit $0.23. For the current year, the average estimate has moved up from a profit of $0.81 to a profit of $0.83 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)

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