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Sep 30, 2021
Manitowoc Q3 2021 Earnings Report
Manitowoc reported a net sales increase of 13.8% year-over-year, driven by strong order rates and positive customer sentiment, despite facing inflation and supply chain challenges.
Key Takeaways
Manitowoc reported a third-quarter loss of $(0.2) million, or $(0.01) per diluted share. Adjusted net income was $2.2 million, or $0.06 per diluted share. Net sales increased 13.8% year-over-year to $404.5 million. Orders increased 37.3% over the prior year, and backlog totaled $890.6 million, up 91.6% year-over-year.
Net sales increased 13.8% year-over-year to $404.5 million.
Orders increased 37.3% year-over-year to $535.2 million.
Backlog as of September 30, 2021, totaled $890.6 million, up 91.6% year-over-year.
The company updates its full-year 2021 guidance, including the acquisitions of Aspen Equipment and the H&E crane business.
Forward Guidance
Manitowoc updates its full-year 2021 guidance, which now includes the acquisitions of Aspen Equipment and the H&E crane business.
Positive Outlook
- Revenue – approximately $1.725 to $1.775 billion
- Adjusted EBITDA – approximately $100 to $110 million
- Depreciation – approximately $40 to $45 million
- Interest expense – approximately $28 to $30 million
- Income tax expense – approximately $10 to $14 million, excluding discrete items
Historical Earnings Impact
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Avg. Return Before/After Earnings
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