Manitowoc Earnings: Here’s Why the Stock is Falling Now

Manitowoc Co. Inc. (NYSE:MTW) delivered a profit and missed Wall Street’s expectations, AND 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 down 4.05%.

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Manitowoc Co. Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 800% to $0.09 in the quarter versus EPS of $0.01 in the year-earlier quarter.

Revenue: Rose 4.41% to $898 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Manitowoc Co. Inc. reported adjusted EPS income of $0.09 per share. By that measure, the company missed the mean analyst estimate of $0.14. It missed the average revenue estimate of $911.64 million.

Quoting Management: “Fueled by our diverse product offerings, leading technologies, and geographic reach across the entire Manitowoc enterprise, we are pleased with our first-quarter performance as we generated another quarter of year-over-year revenue growth in both segments,” commented Glen E. Tellock, Manitowoc’s chairman and chief executive officer. “In spite of some pockets of macro-economic weakness, we are encouraged by the increasing level of customer engagement at both the Bauma and NAFEM industry trade shows, underscoring our excellent products and best-in-class support as a key differentiator for us. As both businesses continue to benefit from the significant investments we have made to upgrade our global manufacturing network, improve operating efficiencies, and drive product innovation, we are confident in our capabilities to enhance our positions across the globe.”

Key Stats (on next page)…

Revenue decreased 18.76% from $1.11 billion in the previous quarter. EPS decreased 66.67% from $0.27 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 $0.39 to a profit $0.4. For the current year, the average estimate has moved down from a profit of $1.32 to a profit of $1.28 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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