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Jun 30, 2020
Manitowoc Q2 2020 Earnings Report
Net sales decreased due to the COVID-19 pandemic and weak economic activity, resulting in a net loss.
Key Takeaways
Manitowoc reported a second-quarter net loss of $12.7 million, or $0.37 per diluted share, with net sales decreasing 35% year-over-year to $328.3 million due to the COVID-19 pandemic and weak economic activity. Adjusted EBITDA was $7.8 million, or 2.4% of sales, and second-quarter orders declined 36.1% from the prior year.
Net sales decreased 35% year-over-year to $328.3 million.
Net loss was $12.7 million, or $0.37 per diluted share.
Adjusted EBITDA was $7.8 million, or 2.4% of sales.
Second-quarter orders decreased 36.1% from the prior year to $237.8 million.
Forward Guidance
Due to the significant uncertainty around the future impact that COVID-19 will have on the Company’s end market demand and supply chain, full year 2020 guidance is not being provided.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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