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Dec 31, 2024
Manitowoc Q4 2024 Earnings Report
Manitowoc Company reported fourth-quarter and full-year 2024 financial results, with fourth-quarter net income of $56.7 million and adjusted EBITDA of $34.9 million.
Key Takeaways
The Manitowoc Company reported fourth-quarter net income of $56.7 million, or $1.59 per diluted share, with net sales remaining relatively flat year-over-year at $596.0 million. Orders increased by 8.4% from the prior year, reaching $515.6 million.
Fourth-quarter net sales were $596.0 million, relatively flat year-over-year.
Net income for the fourth quarter was $56.7 million, or $1.59 per diluted share.
Adjusted EBITDA for the fourth quarter was $34.9 million, a decrease of 4.4% year-over-year.
Net cash provided by operating activities in the fourth quarter increased by $71.0 million to $110.8 million.
Revenue by Segment
Forward Guidance
Manitowoc's full-year 2025 guidance projects net sales between $2.175 billion and $2.275 billion, with adjusted EBITDA ranging from $120 million to $145 million. The company anticipates free cash flows of $55 million to $85 million, excluding EPA payment.
Positive Outlook
- Net sales projected between $2.175 billion and $2.275 billion.
- Adjusted EBITDA expected to be $120 million to $145 million.
- Free cash flows anticipated to be $55 million to $85 million (excluding EPA payment).
- Focus on continuing to grow non-new machine sales.
- Acquisition of distribution rights for Carolinas and Georgia expands aftermarket footprint in the U.S.
Challenges Ahead
- Interest expense projected at $38 million to $40 million.
- Provision for income taxes estimated at $11 million to $15 million.
- Adjusted diluted earnings per share guidance is $0.15 to $0.85, indicating potential for lower profitability.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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