Manitowoc Earnings: Here’s Why Investors are Excited Now

Manitowoc Co. Inc. (NYSE:MTW) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are up 1.78%.

Manitowoc Co. Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 40.63% to $0.45 in the quarter versus EPS of $0.32 in the year-earlier quarter.

Revenue: Rose 4.09% to $1.05 billion from the year-earlier quarter.

Actual vs. Wall St. Expectations: Manitowoc Co. Inc. reported adjusted EPS income of $0.45 per share. By that measure, the company beat the mean analyst estimate of $0.35. It missed the average revenue estimate of $1.07 billion.

Quoting Management: “Our second-quarter results are a byproduct of our ongoing focus on and execution of our strategic initiatives that are expected to generate long-term growth and profitability,” commented Glen E. Tellock, Manitowoc’s Chairman and Chief Executive Officer. “While a level of caution remains around the broader economic environment, we continue to be confident in the opportunities that lie ahead. Our recent conversations with both Crane and Foodservice customers remain positive, and continue to highlight the strength, reliability, and truly differentiated product offering that has come to define Manitowoc as a company.”

Key Stats (on next page)…

Revenue increased 16.59% from $898 million in the previous quarter. EPS increased 400% from $0.09 in the previous quarter.

Looking Forward: Analysts have a more negative outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has fallen from a profit of $0.36 to a profit $0.34. For the current year, the average estimate has moved down from a profit of $1.28 to a profit of $1.16 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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