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Mar 31, 2024
Manitowoc Q1 2024 Earnings Report
Manitowoc's first quarter performance aligned with expectations, with orders up year-over-year and a strong backlog.
Key Takeaways
Manitowoc reported a decrease in net sales by 2.6% year-over-year to $495.1 million. Diluted net income per share was $0.12, and adjusted diluted net income per share was $0.14. First-quarter orders increased by 5.6% year-over-year, resulting in a backlog of $971.3 million.
Net sales decreased by 2.6% year-over-year to $495.1 million.
Diluted net income per share was reported at $0.12, with an adjusted EPS of $0.14.
Adjusted EBITDA was $31.3 million, with a margin percentage of 6.3%.
Orders increased by 5.6% year-over-year to $554.1 million, leading to a backlog of $971.3 million.
Revenue by Segment
Forward Guidance
Manitowoc remains focused on reducing inventory and generating free cash flows for the balance of 2024.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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