Business
The Manitowoc Company Reports First-Quarter 2025 Financial Results; Maintains Full Year 2025 Guidance
MILWAUKEE, May 06, 2025--The Manitowoc Company, Inc. (NYSE: MTW) (the "Company" or "Manitowoc") today reported first-quarter orders of $610.3 million, a 10.1% increase from the prior year driven by a 68.3% increase in new machine orders in the Company’s European tower crane business and a 23.8% increase in the Company’s Americas segment. The Company ended the quarter with a backlog of $797.8 million.
About this update from Manitowoc Company, Inc. (the)
[{"type":"text","content":"First-Quarter 2025 Highlights","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Orders of $610.3 million, up 10.1% year-over-year","length":49,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net sales of $470.9 million, down 4.9% year-over-year","length":53,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Non-new machine sales of $160.6 million, $644.5 million on a trailing twelve-month basis","length":88,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net cash provided by operating activities of $12.9 million; free cash flows(1) of $2.1 million","length":94,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":284,"olType":false},{"type":"text","content":"MILWAUKEE, May 06, 2025--(BUSINESS WIRE)--The Manitowoc Company, Inc. (NYSE: MTW) (the "Company" or "Manitowoc") today reported first-quarter orders of $610.3 million, a 10.1% increase from the prior year driven by a 68.3% increase in new machine orders in the Company’s European tower crane business and a 23.8% increase in the Company’s Americas segment. The Company ended the quarter with a backlog of $797.8 million.","length":440,"tagName":"p"},{"type":"text","content":"Net sales in the first quarter were $470.9 million, a decrease of 4.9% year-over-year. First-quarter non-new machine sales were $160.6 million, an increase of 10.6% year over year. On a trailing twelve-month basis non-new machine sales were $644.5 million.","length":256,"tagName":"p"},{"type":"text","content":"First-quarter adjusted EBITDA(1) was $21.7 million, a decrease of $9.6 million or 30.7% from the prior year. Net cash provided by operating activities in the quarter was $12.9 million, an increase of $43.5 million from the prior year.","length":234,"tagName":"p"},{"type":"text","content":""First-quarter results exceeded our expectations. We began to see signs of a turnaround in our Europe tower crane business with machine orders up 68% year-over-year, marking the third consecutive quarter of year-over-year growth. Our non-new machine sales for the first quarter grew 11% year-over-year to $161 million. Although the tariff situation remains fluid, our team continues to find different ways to mitigate the impact and, therefore, we are maintaining our guidance," said Aaron Rav...