NYSE$MTW

Manitowoc Co Inc · Q4 2020 earnings

Q4 2020 earnings · · Investor relations

Briefing

Manitowoc reported strong finish to a challenging year with increased order intake and backlog.

Manitowoc reported a net income of $1.8 million, or $0.05 per diluted share, for the fourth quarter of 2020. Net sales decreased 7.1% year-over-year to $430.3 million, while adjusted EBITDA increased to $34.2 million. Order intake totaled $508.6 million, and backlog ended the year at $543.2 million.

  • Net sales reached $430.3 million.
  • Adjusted EBITDA amounted to $34.2 million.
  • Diluted net income per share was $0.05, or $0.19 on an adjusted basis.
  • Order intake totaled $508.6 million, with a year-end backlog of $543.2 million.

Headline financials

Total Revenue

$430M

Previous: $463M-7.1%
EPS (adj)

$0.19

Previous: $0.35-45.7%
Orders

$509M

No prior period
Backlog

$543M

No prior period
Capital Expenditures

$11M

Previous: $12.7M-13.4%
Free Cash Flow

$24.8M

Previous: $132M-81.2%
Net Income

$1.8M

Previous: $9.2M-80.4%
Operating Income

$22.8M

Previous: $17.8M+28.1%
Gross Profit

$78M

Previous: $80.3M-2.9%
Cash & Equivalents

$129M

Previous: $199M-35.4%
Total Assets

$1.6B

Previous: $1.62B-0.9%
Stock-Based Comp

$600K

Previous: $9.5M-93.7%

Revenue & EPS history

Manitowoc · Revenue · Quarterly

$430M

Q4 2020-7.1%vs Q4 2019
Beat estimate in 10 of 14 quarters(71%)
ActualEstimate

Revenue by segment

Manitowoc · $155M total across 1 segment · Q3 2023

  • Non-new machine sales
    $155M

Forward guidance

Manitowoc is not providing 2021 financial guidance due to significant uncertainty in end markets, growing material cost inflation, a softening dollar, and a less favorable product mix.

Tailwinds

  • Balance sheet remains strong with ample liquidity.
  • Evaluating acquisition opportunities.
  • Accelerating product development in the all-terrain product line.
  • Scaling up the Chinese tower crane business.
  • Growing the tower crane rental fleet in Europe.

Headwinds

  • Significant uncertainty in end markets.
  • Growing material cost inflation.
  • Softening dollar.
  • Less favorable product mix.
  • Transition year to lay the foundation for future growth.

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 Q4 2020

Historical avgQ4 2020

-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

Earnings price reactions
QuarterReport dateReaction (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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