Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — Q1 2024 Earnings Presentation
13 slides from Manitowoc Company, Inc. (the)'s earnings presentation, May 8, 2024
Slide 1: First-Quarter 2024 Earnings Conference Call
First-Quarter 2024 Earnings Conference Call May 8, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Safe Harbor Statement Any statements contained in this presentation that are not historical facts are “forward-looking statements.” These statements are based on the current expectations of the management of the Company, and are subject to uncertainty and changes in circum
Slide 3: Market Conditions
Market Conditions North America Europe - Strong crane activity - Continued softness impacting tower - Stable crane utilization and rates demand despite significant housing - Positive outlook among customers shortage - Stable mobile demand with solid utilization rates - Leading indicators suggest sta
Slide 4: The Manitowoc Way First-quarter 2024 Highlights – Charlieu Facility
The Manitowoc Way First-quarter 2024 Highlights – Charlieu Facility Usage of trolley system Manufacturing of drum Remanufacturing of top- for efficient and safe for 64-ton capacity slewing tower crane masts movement of jibs luffing tower crane THE POWER OF THE MANITOWOC WAY 4
Slide 5: First-quarter 2024 Financial & Other Key Metrics
First-quarter 2024 Financial & Other Key Metrics ($ in millions, ex per share amounts) -1% -13% +10% +22% +39% TOWER CRANE HEADWIND IMPACTING QUARTER RESULTS 5
Slide 6: First-quarter 2024 Financial & Other Key Metrics: Net Working Capital
First-quarter 2024 Financial & Other Key Metrics ($ in millions) NWC $429 NWC $509 FOCUS ON REDUCING NET WORKING CAPITAL 6
Slide 7: New Product Highlights
New Product Highlights 9 new or 1 new Boom refreshed All- Truck terrain cranes 2 new Truck- Significant 8 new Tower mounted cranes Investments crane models launched from in NPD China team Grove CONNECT & 7 new Tower Potain crane models CONNECT from Europe telematics 7
Slide 8: Appendix
Appendix
Slide 9: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended March 31, 2024 2023 As reported Adjustments Adjusted As reported Adjustments Adjusted Gross profit $ 92.5 $ — $ 92.5 $ 106.3 $ — $ 106.3 Engineering, selling, and administrative expenses (76.0) 0.1 (75.9) (75.1) — (75.1) Amortization of i
Slide 10: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended March 31, Trailing Twelve 2024 2023 Months Net income (loss) $ 4.5 $ 16.5 $ 27.2 Interest expense and amortization of deferred financing fees 9.5 8.4 36.3 Provision for income taxes 1.9 4.2 2.7 Depreciation expense 14.7 13.9 57.4 Amortiza
Slide 11: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended March 31, 2024 2023 Net cash provided by (used for) operating activities $ (30.6) $ 15.4 Capital expenditures (12.2) (10.6) Free cash flows $ (42.8) $ 4.8 _____________________ Dollars in millions Note: See full reconciliation of GAAP and
Slide 12: Appendix – Adjusted ROIC Calculation
Appendix – Adjusted ROIC Calculation Trailing Twelve Months Ended March 31, 2024 Operating income $ 77.4 Amortization of intangible assets 2.9 Restructuring expense 1.9 Other non-recurring items - net 21.9 Adjusted operating income 104.1 Provision for income taxes (15.6) Adjusted NOPAT $ 88.5 5-Quar
Slide 13: Thank you for your interest
Thank you for your interest Additional information: Ion Warner – SVP Marketing & Investor Relations +1 414-760-4805 ion.warner@manitowoc.com www.manitowoc.com
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