Loading...
•
Mar 31, 2022
Manitowoc Q1 2022 Earnings Report
Reported a net sales increase of 29.6% year-over-year, with diluted net income per share of $0.09 and adjusted EBITDA of $31.2 million.
Key Takeaways
Manitowoc reported a strong first quarter with net sales up 29.6% year-over-year to $459.0 million. Diluted net income per share was $0.09, and adjusted EBITDA was $31.2 million, an increase of $10.1 million from the prior year.
Net sales increased by 29.6% year-over-year to $459.0 million.
Diluted net income per share was $0.09, or $0.03 on an adjusted basis.
Adjusted EBITDA was $31.2 million, up $10.1 million year-over-year.
First-quarter orders increased 1.7% over the prior year to $481.5 million.
Forward Guidance
The Ukrainian crisis combined with the severe COVID measures taken in China have further exacerbated the global macroeconomic environment. The recent acceleration of inflation, particularly in Europe, combined with further deterioration in our supply chain will place added pressure on crane demand and our margins throughout the remainder of the year. As a result, we believe that our full-year results will be on the lower-end of the Adjusted EBITDA guidance previously communicated.
Positive Outlook
- Crane fleets continue to age beyond historic levels.
- The U.S. infrastructure bill has been approved.
- Manitowoc will continue to invest in our four breakthrough initiatives
- Manitowoc remain committed to our CRANES+50 strategy, which is to grow our non-new machine sales by 50% in the next five years.
- Team was able to generate $31 million of Adjusted EBITDA, exceeding our expectations
Challenges Ahead
- Ukrainian crisis combined with the severe COVID measures taken in China have further exacerbated the global macroeconomic environment.
- The recent acceleration of inflation, particularly in Europe, combined with further deterioration in our supply chain will place added pressure on crane demand
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...