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Dec 31, 2023
Manitowoc Q4 2023 Earnings Report
Manitowoc reported a net sales decrease of 4.2% year-over-year to $595.8 million. The company reported a net loss of $7.9 million, or $0.23 per diluted share.
Key Takeaways
The Manitowoc Company reported fourth-quarter net sales of $595.8 million, a 4.2% decrease year-over-year. The company experienced a net loss of $7.9 million, or $0.23 per diluted share. Full-year 2023 net sales increased 9.6% year-over-year to $2,227.8 million.
Net sales of $595.8 million
Adjusted EBITDA of $36.5 million, margin percentage of 6.1%
Net cash provided by operating activities of $39.8 million, free cash flows of $22.3 million
Full-year 2023 net sales increased 9.6% year-over-year to $2,227.8 million
Revenue by Segment
Forward Guidance
Our full-year 2024 guidance is as follows: •Net sales - $2.275 billion to $2.375 billion •Adjusted EBITDA - $150 million to $180 million •Depreciation and amortization - $63 million to $67 million •Interest expense - $32 million to $34 million •Provision for income taxes - $18 million to $22 million •Adjusted diluted earnings per share - $0.95 to $1.55 •Capital expenditures - $60 million of which approximately $25 million is for rental fleet growth •Free cash flows - $30 million to $60 million
Positive Outlook
- Net sales - $2.275 billion to $2.375 billion
- Adjusted EBITDA - $150 million to $180 million
- Depreciation and amortization - $63 million to $67 million
- Interest expense - $32 million to $34 million
- Provision for income taxes - $18 million to $22 million
Challenges Ahead
- Adjusted diluted earnings per share - $0.95 to $1.55
- Capital expenditures - $60 million of which approximately $25 million is for rental fleet growth
- Free cash flows - $30 million to $60 million
Historical Earnings Impact
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Avg. Return Before/After Earnings
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