Loading...
•
Sep 30, 2022
Manitowoc Q3 2022 Earnings Report
Reported third-quarter results with increased net sales and backlog.
Key Takeaways
Manitowoc reported a 12.4% year-over-year increase in net sales to $454.7 million for the third quarter of 2022. Net income was $2.3 million, or $0.07 per diluted share, with adjusted net income at $3.4 million, or $0.10 per diluted share. The company's backlog reached $943.4 million, a 5.9% increase year-over-year.
Net sales increased by 12.4% year-over-year to $454.7 million.
Net income was $2.3 million, or $0.07 per diluted share.
Adjusted net income was $3.4 million, or $0.10 per diluted share.
Backlog increased by 5.9% year-over-year to $943.4 million.
Forward Guidance
The company expects persistent supply chain disruptions and continued inflationary pressure to continue into the fourth quarter. Nevertheless, given elevated shippable backlog combined with the volume of nearly finished cranes that carried over from the third-quarter, the company continues to target the low-end of its Adjusted EBITDA guidance for 2022.
Positive Outlook
- Elevated shippable backlog
- Volume of nearly finished cranes carried over from the third-quarter
Challenges Ahead
- Persistent supply chain disruptions
- Continued inflationary pressure
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...