NYSE$MTW
Manitowoc Co Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Second quarter results were reported with a decrease in net sales and adjusted EBITDA compared to the prior year, and full-year guidance was updated to reflect weaker demand.
Manitowoc reported a decrease in net sales by 6.8% year-over-year to $562.1 million. Adjusted EBITDA decreased by 40.4% to $36.0 million. Orders in the second quarter were $428.4 million, a 22.2% decrease from the prior year, resulting in backlog at the end of the second quarter of $836.3 million. The company updated its full-year guidance due to weaker demand.
- Net sales decreased 6.8% year-over-year to $562.1 million.
- Adjusted EBITDA decreased 40.4% year-over-year to $36.0 million, with a margin of 6.4%.
- Orders decreased 22.2% year-over-year to $428.4 million, resulting in a backlog of $836.3 million.
- Full-year guidance was updated to reflect weaker demand.
Headline financials
Revenue & EPS history
Manitowoc · Revenue · Quarterly
$562M
Revenue by segment
Manitowoc · $155M total across 1 segment · Q3 2023
- Non-new machine sales$155M—100.0%
Forward guidance
Manitowoc is updating its full-year 2024 guidance as follows:
Tailwinds
- Net sales – $2.175 billion to $2.225 billion
- Adjusted EBITDA – $125 million to $140 million
- Depreciation and amortization - $60 million to $63 million
- Provision for income taxes - $9 million to $13 million
- Free cash flows - $30 million to $50 million
Headwinds
- Net sales – Previously $2.275 billion to $2.375 billion
- Adjusted EBITDA – Previously $150 million to $180 million
- Depreciation and amortization - Previously $63 million to $67 million
- Interest expense - $36 million to $38 million (previously $32 million to $34 million)
- Adjusted diluted earnings per share - $0.45 to $0.90 (previously $0.95 to $1.55)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2024
-1.5%
Avg return
Earnings day
-0.4%
Avg return
5 days after
+0.4%
Avg return
30 days after
37%
25 / 68 earnings
Positive
+20.0%
Q3 2019
Best reaction
-23.5%
Q4 2019
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +2.0% | -4.7% | -13.4% | |
| Q4 2025 | +2.0% | -3.8% | -15.7% | |
| Q3 2025 | -7.8% | -10.3% | +1.0% | |
| Q1 2025 | +3.3% | +32.1% | +31.7% | |
| Q4 2024 | +1.3% | +11.6% | -12.8% | |
| Q3 2024 | -14.2% | -8.5% | +2.5% | |
| Q2 2024 | -14.5% | -13.7% | -15.3% | |
| Q1 2024 | -2.9% | -2.7% | -6.6% | |
| Q4 2023 | -19.5% | -18.6% | -20.8% | |
| Q3 2023 | +6.4% | +9.5% | +19.2% | |
| Q2 2023 | -9.6% | -6.3% | -16.4% | |
| Q1 2023 | -9.8% | -8.8% | -4.3% | |
| Q4 2022 | +13.7% | +26.0% | +17.5% | |
| Q3 2022 | -7.6% | +5.7% | -3.0% | |
| Q2 2022 | -7.5% | -5.3% | -19.9% | |
| Q1 2022 | -8.5% | -16.3% | -3.0% | |
| Q4 2021 | -8.3% | -4.5% | -8.8% | |
| Q3 2021 | -3.6% | -2.0% | -15.6% | |
| Q2 2021 | +6.2% | +15.7% | -0.8% | |
| Q1 2021 | +9.3% | +3.3% | +9.2% | |
| Q4 2020 | -4.2% | -2.9% | +36.1% | |
| Q3 2020 | +18.4% | +38.2% | +59.3% | |
| Q2 2020 | -10.8% | -4.7% | -14.9% | |
| Q1 2020 | -2.2% | -11.1% | +38.7% | |
| Q4 2019 | -23.5% | -21.5% | -32.7% | |
| Q3 2019 | +20.0% | +17.7% | +19.9% | |
| Q2 2019 | +8.8% | +2.5% | -19.5% | |
| Q1 2019 | -6.1% | -8.4% | -15.1% | |
| Q4 2018 | -6.8% | -1.0% | +5.3% | |
| Q3 2018 | +7.4% | +2.0% | -7.9% | |
| Q2 2018 | -1.5% | -7.3% | -5.7% | |
| Q1 2018 | -0.7% | +0.5% | +11.8% | |
| Q4 2017 | -6.3% | -7.4% | -18.3% | |
| Q3 2017 | -0.7% | -1.0% | -2.2% | |
| Q2 2017 | +8.0% | +9.8% | +10.8% | |
| Q1 2017 | +10.9% | +6.3% | -0.9% | |
| Q4 2016 | -7.9% | -4.7% | -7.0% | |
| Q3 2016 | -3.5% | -3.5% | +49.0% | |
| Q2 2016 | -16.6% | -17.6% | -14.9% | |
| Q1 2016 | +4.8% | — | — | |
| Q4 2015 | +10.1% | — | — | |
| Q3 2015 | +1.3% | — | — | |
| Q2 2015 | +0.8% | — | — | |
| Q1 2015 | -0.6% | — | — | |
| Q4 2014 | -1.9% | — | — | |
| Q3 2014 | +5.9% | — | — | |
| Q2 2014 | -12.1% | — | — | |
| Q1 2014 | -8.7% | — | — | |
| Q4 2013 | +17.1% | — | — | |
| Q3 2013 | +4.9% | — | — | |
| Q2 2013 | +4.7% | — | — | |
| Q1 2013 | -8.3% | — | — | |
| Q4 2012 | +6.5% | — | — | |
| Q3 2012 | -1.0% | — | — | |
| Q2 2012 | +1.9% | — | — | |
| Q1 2012 | -11.3% | — | — | |
| Q4 2011 | -3.2% | — | — | |
| Q3 2011 | -5.6% | — | — | |
| Q2 2011 | +6.1% | — | — | |
| Q1 2010 | -2.2% | — | — | |
| Q1 2011 | -1.5% | — | — | |
| Q4 2010 | -4.3% | — | — | |
| Q4 2008 | -4.3% | — | — | |
| Q3 2009 | -1.9% | — | — | |
| Q3 2010 | -1.9% | — | — | |
| Q4 2009 | -3.6% | — | — | |
| Q2 2009 | -3.6% | — | — | |
| Q2 2010 | -3.6% | — | — |
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