The Manitowoc Company, Inc. (NYSEMTW) (“the Company” or “Manitowoc”), a leading global manufacturer of cranes and lifting solutions, announced today that through its wholly- owned subsidiary, MGX Equipment Services, LLC, it has completed the acquisition of certain crane assets of Ring Power Corporation (“Ring Power”). This transaction expands Manitowoc’s direct-to-customer footprint in the territories with new and used crane sales, aftermarket parts, service, and remanufacturing support to a diverse range of end market customers. MGX will now serve crane customers in Georgia, North Carolina, and South Carolina. Ring Power will maintain its current facilities in Georgia, North Carolina, and South Carolina for its utility and vocational truck operations. In addition, Ring Power will operate its crane business in Florida representing Grove, Manitowoc, and National Crane products.

The Manitowoc Company, Inc. (NYSEMTW) announced today that it will release its fourth-quarter 2024 and full-year 2024 results on Wednesday, February 12, 2025, after the close of market. The Company will host an earnings call to discuss its results and outlook on Thursday, February 13, 2025, at 10:00 a.m. ET (9:00 a.m. CT).

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Terex (NYSETEX) and its peers.

The Manitowoc Company, Inc. (NYSEMTW) (the “Company” or “Manitowoc”) today reported that it agreed to the terms of a Consent Decree with the U.S. Environmental Protection Agency (EPA) and the U.S. Department of Justice (DOJ) regarding alleged violations of the Transition Program for Equipment Manufacturers (TPEM), a program under the U.S. Clean Air Act. Per the terms of the agreement, Manitowoc will pay a civil penalty of $42.6 million and complete an emissions mitigation project upgrading a short-line locomotive engine in Maryland. Completion of the terms in the Consent Decree settles this matter and releases the Company from civil claims under the Clean Air Act related to the Company’s participation in the TPEM program.

The Manitowoc Company, Inc. (NYSEMTW), (the “Company” or “Manitowoc”) a leading global manufacturer of cranes and lifting solutions, announced today that it was named one of America’s Most Responsible Companies for the third consecutive year by Newsweek. This prestigious award is presented by Newsweek and Statista Inc., the statistics portal and industry-ranking provider. The awards list, announced on December 3, 2024, can be viewed on Newsweek's website. The Company made a significant leap, advancing 298 places from its 2024 award to achieve the 227th position.

The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how construction machinery stocks fared in Q3, starting with Astec (NASDAQASTE).

Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Manitowoc (NYSEMTW) and its peers.

Over the last six months, Manitowoc’s shares have sunk to $10.56, producing a disappointing 13.2% loss - a stark contrast to the S&P 500’s 13.4% gain. This was partly driven by its softer quarterly results and might have investors contemplating their next move.

The Manitowoc Company, Inc. (NYSEMTW), (the “Company’ or “Manitowoc”) announced today that it was recognized as one of the 2024 “Best for Vets” Employers by Military Times. The 2024 recipients list can be viewed on Military Times website.

Wrapping up Q3 earnings, we look at the numbers and key takeaways for the construction machinery stocks, including Caterpillar (NYSECAT) and its peers.

Crane and lifting equipment company Manitowoc (NYSEMTW) reported Q3 CY2024 results topping the market’s revenue expectations, but sales were flat year on year at $524.8 million. Its non-GAAP loss of $2.90 per share was 4,696% below analysts’ consensus estimates.

The Manitowoc Company, Inc. (NYSEMTW) (the “Company” or “Manitowoc”) today reported a third-quarter net loss of $7.0 million, or $0.20 per diluted share. Third-quarter adjusted net loss(1) was $2.9 million, or $0.08 per diluted share.

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

Looking back on construction machinery stocks’ Q2 earnings, we examine this quarter’s best and worst performers, including Caterpillar (NYSECAT) and its peers.

The Manitowoc Company, Inc. (NYSEMTW) announced today that it will release its third-quarter 2024 results on Wednesday, October 30, 2024, after the close of market. The Company will host a conference call to discuss its results and outlook on Thursday, October 31, 2024, at 10:00 a.m. ET (9:00 a.m. CT).

The Manitowoc Company, Inc. (NYSEMTW) (“Manitowoc”) announced today that it has priced its previously announced private offering (the “Offering”) of $300 million aggregate principal amount of senior secured second lien notes due 2031 (the “Notes”). The Notes will have an interest rate of 9.250% per annum and are being issued at a price equal to 100.000% of their face value. The Notes will be guaranteed on a senior secured second lien basis, jointly and severally, by each of Manitowoc’s domestic subsidiaries that will continue to guarantee Manitowoc’s asset-based revolving credit facility that will among other things increase the commitments by $50 million to $325 million (as amended, the “Amended ABL Credit Facility”). The Offering is expected to close on September 19, 2024, subject to market and other conditions, including Manitowoc entering into the Amended ABL Credit Facility. There can be no assurance that the Offering or the Amended ABL Credit Facility will be completed on a timely basis, or at all.

The Manitowoc Company, Inc. (NYSEMTW) (“Manitowoc”) announced today that it has commenced a private offering (the “Offering”) of $300,000,000 aggregate principal amount of senior secured second lien notes due 2031 (the “Notes”), subject to market and other conditions, including Manitowoc entering into an amendment to its existing asset-based revolving credit facility that will among other things increase the commitments by $50 million to $325 million (as amended, the “Amended ABL Credit Facility”). The Notes will be guaranteed on a senior secured second lien basis, jointly and severally, by each of Manitowoc’s domestic subsidiaries that will continue to guarantee the Amended ABL Credit Facility. There can be no assurance that the Offering or the Amended ABL Credit Facility will be completed on a timely basis, or at all.

The Manitowoc Company, Inc. (NYSEMTW) announced today that President and Chief Executive Officer, Aaron H. Ravenscroft and Executive Vice President and Chief Financial Officer, Brian P. Regan will present and host 1x1 investor meetings at the Midwest IDEAS Conference in Chicago, Illinois, on Thursday, August 29, 2024. Manitowoc’s presentation is scheduled at 10:15 a.m. ET and will be accessible through the conference webcast link at 2024 Midwest IDEAS Conference (wsw.com) and the Events & Presentations page of Manitowoc’s Investor Relations website at http://ir.manitowoc.com.

The Manitowoc Company, Inc. (NYSEMTW) (the “Company” or “Manitowoc”) today reported second-quarter net income of $1.6 million, or $0.04 per diluted share. Second-quarter adjusted net income(1) was $8.8 million, or $0.25 per diluted share.

The Manitowoc Company, Inc. (NYSEMTW) announced today that it will release its second-quarter 2024 results on Wednesday, August 7, 2024, after the close of market. The Company will host a conference call to discuss its results and outlook on Thursday, August 8, 2024, at 10:00 a.m. ET (9:00 a.m. CT).