Manitowoc Q2 net sales up 7.2% to $497.2M; orders down 19.2% YoY; maintains low-end EBITDA guidance

MANITOWOC CO INC

2022-Q2 EPS reported $0.51 revenue$956,200,000

Net sales $497.2M (+7.2% YoY); net income $15.1M ($0.42 EPS); adjusted net income $7.4M ($0.21 EPS).
Adjusted EBITDA $36.4M (7.3% margin), down $4.3M YoY; FX impact of $2.7M.
Orders $434.0M (-19.2% YoY); backlog $947.8M (+28.8% YoY but -8.3% sequentially).
CEO cites global economic uncertainty; maintains low-end of adjusted EBITDA guidance for 2022.
FX unfavorably impacted sales by $27.9M, orders by $22.6M, backlog by $24.4M.

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