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Dec 31, 2020
Manitowoc Q4 2020 Earnings Report
Manitowoc reported strong finish to a challenging year with increased order intake and backlog.
Key Takeaways
Manitowoc reported a net income of $1.8 million, or $0.05 per diluted share, for the fourth quarter of 2020. Net sales decreased 7.1% year-over-year to $430.3 million, while adjusted EBITDA increased to $34.2 million. Order intake totaled $508.6 million, and backlog ended the year at $543.2 million.
Net sales reached $430.3 million.
Adjusted EBITDA amounted to $34.2 million.
Diluted net income per share was $0.05, or $0.19 on an adjusted basis.
Order intake totaled $508.6 million, with a year-end backlog of $543.2 million.
Forward Guidance
Manitowoc is not providing 2021 financial guidance due to significant uncertainty in end markets, growing material cost inflation, a softening dollar, and a less favorable product mix.
Positive Outlook
- Balance sheet remains strong with ample liquidity.
- Evaluating acquisition opportunities.
- Accelerating product development in the all-terrain product line.
- Scaling up the Chinese tower crane business.
- Growing the tower crane rental fleet in Europe.
Challenges Ahead
- Significant uncertainty in end markets.
- Growing material cost inflation.
- Softening dollar.
- Less favorable product mix.
- Transition year to lay the foundation for future growth.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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