Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — Q2 2022 Earnings Presentation
13 slides from Manitowoc Company, Inc. (the)'s earnings presentation, Aug 5, 2022
Slide 1: Second-Quarter 2022 Earnings Conference Call
Second-Quarter 2022 Earnings Conference Call Aaron Ravenscroft – President & Chief Executive Officer August 5, 2022 Brian Regan – EVP & Chief Financial Officer Ion Warner – SVP 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, an
Slide 3: Second-quarter Summary
Second-quarter Summary Solid execution despite headwinds • Continuing supply chain constraints • Inflation and rising interest rates are tempering demand • Backlog remains healthy Continuing progress on CRANES+50 • Grew non-new machine sales ~21% YOY 2021 Full-Year • Acquisitions Summary supporting
Slide 4: The Manitowoc Way Kaizens
The Manitowoc Way Kaizens Porto, Portugal Niella, Italy IMPLEMENTING LEAN PRINCIPLES 4
Slide 5: Financial & Other Key Metrics ($ millions)
Financial & Other Key Metrics ($ millions) Q2 2022 Q2 2021 Y/Y ∆ Orders $ 434.0 $ 537.2 (19.2)% Net sales 497.2 463.6 7.2 % Engineering, selling & admin expenses 69.3 63.6 9.0 % Operating income 18.3 26.7 (31.5)% Adjusted operating income (1) 20.0 30.9 (35.3)% Net income (loss) 15.1 17.9 (15.6)% Adj
Slide 6: Market Conditions
Market Conditions • EURAF: Markets slowing; project delays impacting outlook; energy cost and supply uncertainty due to Ukraine conflict • Americas: Pockets of strengths and weaknesses; declining customer purchasing power; strengthened USD • MEAP: Improved activity in Middle East; continued weakness
Slide 7: NPD Investments in All-Terrain Cranes
NPD Investments in All-Terrain Cranes GMK5150XL GMK6400-1 GMK5120L One additional model scheduled to debut at bauma with digital solutions….. GROWING OUR ALL-TERRAIN CRANE MARKET SHARE 7
Slide 8: Appendix
Q@anitowoc Appendix
Slide 9: Appendix
Appendix $1,200 sas $700 / $1,000 $600 ] $500 $800 . $372 $353, $400 = $600 z & 6 $300 $400 $200 $200 $100 $ ra 2 2019 Q3 2019.4 2019 QI 2020 Q2 2020 3 2020 24 2020 QI 2021 2 2021 Q3 2021 Q4 2021 Q1 2022.2 2022 [Ending Backlog Orders $600 120% $500 10.0% $400 8.0% $300 6.0% $200 4.0% $100 2.0% $ 0.0
Slide 10: Appendix
Appendix (1) See appendix for reconciliation of GAAP to non-GAAP measures (2) Net Working Capital includes $81M from acquisitions in Q4 2021 10
Slide 11: Appendix- Adjusted EBITDA Reconciliation
Appendix- Adjusted EBITDA Reconciliation Three Months Ended Six Months Ended Trailing June 30, June 30, Twelve 2022 2021 2022 2021 Months Net income $ 15.1 $ 17.9 $ 18.2 $ 14.8 $ 14.4 Interest expense and amortization of deferred financing fees 8.2 7.6 16.0 15.1 31.3 Provision (benefit) for income t
Slide 12: Appendix- Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures Six Months Ended June 30, 2022 2021 As reported Adjustments Adjusted As reported Adjustments Adjusted Gross profit (1) $ 173.7 $ 2.3 $ 176.0 $ 158.8 $ — $ 158.8 Engineering, selling and administrative expenses (2) (135.8) (4.3) (140.1) (121.3) 4.6 (116.7) Amorti
Slide 13: Appendix- Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures Three Months Ended Six Months Ended June 30, June 30, 2022 2021 2022 2021 Net cash provided by operating activities $ 0.1 $ 8.9 $ 5.7 $ 49.7 Capital expenditures (8.1) (7.4) (16.8) (15.4) Free cash flows $ (8.0) $ 1.5 $ (11.1) $ 34.3 13