secwatch.observer — SEC 8-K summary
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Issuer:     MANITOWOC CO INC (MTW)
CIK:        0000061986
Form:       8-K
Filed at:   2024-08-07T23:59:59+00:00
Accession:  0000950170-24-092935
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Manitowoc Q2 net sales down 6.8% YoY; cuts full-year guidance
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- Q2 net sales $562.1M (-6.8% YoY); net income $1.6M ($0.04 EPS); adjusted net income $8.8M ($0.25 adjusted EPS).
- Adjusted EBITDA $36.0M, down 40.4% YoY; orders $428.4M (-22.2% YoY); backlog $836.3M.
- Full-year 2024 guidance lowered: sales $2.175B-$2.225B, adjusted EBITDA $125M-$140M, adjusted EPS $0.45-$0.90.
- CEO cites operational issues, sluggish mobile crane orders in Europe/North America, and European tower crane headwinds.
- Non-new machine sales via CRANES+50 up 34%, expanding higher-margin recurring revenue streams.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/61986/000095017024092935/0000950170-24-092935-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/61986/000095017024092935/mtw-20240807.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-092935

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer