Manitowoc Q3 sales rise 10.9%, lifts full-year outlook

Manitowoc

03/11/2026 21:08

Overview
U.S. crane maker's Q3 net sales rose 10.9% yr/yr
Adjusted EBITDA for Q3 rose 39% yr/yr
Company raised full-year guidance for adjusted EBITDA and adjusted diluted EPS

Outlook
Manitowoc raises 2026 adjusted EBITDA guidance to $160 mln-$175 mln from $150 mln-$170 mln
Company lifts 2026 adjusted diluted EPS outlook to $0.90-$1.25 from $0.80-$1.20
Manitowoc maintains 2026 net sales guidance at $2.3 bln-$2.4 bln

Result Drivers
ORDER GROWTH - Co said Q3 orders rose 37.6% yr/yr, expanding backlog and reflecting continued strength in crane demand in Americas, Middle East and Asia Pacific
AFTERMARKET STRATEGY - Co said it continues to grow its aftermarket business through CRANES+50 strategy

Company press release: ID:nBw3tqPjQa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Sales
Beat
$613.80 mln
$577.10 mln (1 Analyst)
Q3 Adjusted EPS
Beat
$0.31
$0.20 (2 Analysts)
Q3 EPS
 
$0.30
 
Q3 Adjusted Net Income
Beat
$11.50 mln
$7 mln (1 Analyst)
Q3 Net Income
 
$11 mln
 
Q3 Adjusted EBITDA
Beat
$47.40 mln
$38 mln (1 Analyst)
Q3 Gross Profit
 
$121.80 mln
 
Q3 Orders
 
$676.40 mln
 

Analyst Coverage
The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", no "hold" and 2 "sell" or "strong sell"
The average consensus recommendation for the heavy machinery & vehicles peer group is "buy."
Wall Street's median 12-month price target for Manitowoc Company Inc is $14.00, about 40.6% below its November 2 closing price of $23.58
The stock recently traded at 26 times the next 12-month earnings vs. a P/E of 19 three months ago

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)