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Jun 30, 2025
Manitowoc Q2 2025 Earnings Report
Manitowoc reported its second-quarter 2025 financial results, with a decrease in net sales but an increase in orders and non-new machine sales.
Key Takeaways
The Manitowoc Company reported a net income of $1.5 million for the second quarter of 2025, or $0.04 per diluted share. While net sales decreased by 4.0% year-over-year to $539.5 million, orders saw a 6.0% increase to $453.9 million, driven by strong performance in the MGX distribution business and European tower crane market. Adjusted EBITDA decreased by 26.9% to $26.3 million.
Orders increased by 6.0% year-over-year to $453.9 million, indicating strong demand.
Net sales decreased by 4.0% year-over-year to $539.5 million, primarily due to tariff headwinds.
Non-new machine sales grew by 9.7% year-over-year to $161.6 million, highlighting strength in aftermarket services.
Adjusted EBITDA declined by 26.9% to $26.3 million, reflecting operational challenges and market adjustments.
Revenue by Segment
Forward Guidance
Manitowoc anticipates finishing the year at the lower end of its guidance range due to expected delays in the U.S. crane market stabilizing from tariffs, despite positive indicators in other regions.
Positive Outlook
- General European economy is improving with Germany announcing a massive infrastructure fund and advantageous depreciation program.
- Tower crane business in Europe continues to rebound.
- Middle East market remains active.
- Improvements have started to be seen in Asia Pacific.
- U.S. crane rental houses remain busy and dealer inventory is contracting, which bodes well for future demand.
Challenges Ahead
- Expectation that it will take six months for the crane market in the U.S. to find a new equilibrium due to tariffs.
- Adjusted build schedules for the second half of the year.
- Anticipated finish at the lower end of the full-year guidance range.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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