Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — Q3 2019 Earnings Presentation
10 slides from Manitowoc Company, Inc. (the)'s earnings presentation, Nov 8, 2019
Slide 1: Third-Quarter 2019 Earnings Conference Call
Third-Quarter 2019 Earnings Conference Call Barry Pennypacker – President & Chief Executive Officer November 8, 2019 Dave Antoniuk – SVP & Chief Financial Officer Ion Warner – VP Marketing & Investor Relations
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, only speak as of the date on which they are made, a
Slide 3: Financial & Other Key Metrics
Financial & Other Key Metrics Q3 2019 Q3 2018 Y/Y ∆ Net sales $ 448.0 $ 450.1 (0.5)% Engineering, selling & admin expenses 54.8 62.1 (11.9)% Operating income 32.5 16.9 92.4 % Adjusted operating income (1) 33.9 21.5 57.6 % Net income 18.1 11.5 56.9 % Adjusted net income (1) 19.2 7.3 163.0 % Adjusted
Slide 4: Updated Full-Year 2019 Guidance
Updated Full-Year 2019 Guidance Revenue Approximately $1.850 to $1.880 billion Adjusted EBITDA Approximately $145 to $160 million Depreciation Approximately $35 to $37 million Restructuring expense Approximately $10 to $12 million Interest expense Approximately $31 to $33 million, excluding debt ref
Slide 5: Appendix
Q@anitowoc Appendix
Slide 6: Appendix: Backlog, Orders, Revenue and Adjusted EBITDA Margin
Appendix $800 $700 $620 $700 $600 $536 $600 $488 $486 $458 $500 $431 $441 $376 $500 $380 $372 $400 $348 $353 Backlog Orders $400 $310 $300 $300 $200 $200 $100 $100 $354 $324 $506 $491 $468 $607 $757 $692 $700 $671 $694 $561 $467 $- $- Q3 2016 Q4 2016 Q1 2017 Q2 2017 Q3 2017 Q4 2017 Q1 2018 Q2 2018 Q
Slide 7: Appendix: Adjusted EPS, CFOA, Net Working Capital, Orders
Appendix Adjusted Diluted Earnings Per Share by Quarter Non-GAAP CFOA (1) $1.50 $140 $120 $1.00 $100 $80 $0.50 $60 $40 $- $20 $- $(0.50) $(20) $(1.00) $(40) $(60) $(1.50) $(80) Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2016 2016 2017 2017 2017 2017 2018 2018 2018
Slide 8: Appendix - Adjusted EBITDA Reconciliation
Appendix- Adjusted EBITDA Reconciliation Adjusted EBITDA and Adjusted Operating Income The Company defines adjusted EBITDA as earnings before interest, income taxes, depreciation and amortization, plus an addback of certain restructuring and other charges. The reconciliation of income (loss) from co
Slide 9: Appendix - Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures Non-GAAP Items Adjusted net income from continuing operations, adjusted EBITDA, adjusted operating cash flows and adjusted free cash flows are financial measures that are not in accordance with GAAP. Manitowoc believes these non-GAAP financial measures provide i
Slide 10: Appendix - Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures Nine Months Ended September 30, 2019 2018 As reported Adjustments Adjusted As reported Adjustments Adjusted Gross profit $ 263.8 $ — $ 263.8 $ 238.9 $ — $ 238.9 Engineering, selling and administrative expenses (1) (164.7 ) 0.3 (164.4 ) (184.6 ) 3.6 (181.0 ) Asse