Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — Q1 2023 Earnings Presentation
14 slides from Manitowoc Company, Inc. (the)'s earnings presentation, May 3, 2023
Slide 1: First-Quarter 2023 Earnings Conference Call
First-Quarter 2023 Earnings Conference Call Aaron Ravenscroft – President & Chief Executive Officer May 3, 2023 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 and
Slide 3: First-quarter 2023 Highlights
First-quarter 2023 Highlights $508M $45M 8.9% $151M Up Up Up Up 11% 45% 210 bps 17% Y/Y Y/Y Y/Y Y/Y Net Adjusted Adjusted Non-new Sales EBITDA EBITDA machine Margin Sales STRONG OPERATIONAL EXECUTION; CRANES+50 STRATEGY ON TRACK 3
Slide 4: Brooke's House Partnership
Brooke’s House Partnership • Community-based, stable living environment for women recovering from substance abuse • Partnership provides on-the-job training and employment at the Shady Grove, PA facility • Video: New Beginnings: Manitowoc and Brooke’s House Help Build Something Real BUILDING COMMUNI
Slide 5: Kaizen Example – Crawler Value Stream
Kaizen Example – Crawler Value Stream • Reconfigure weld layout using Lean techniques • Enhance Value Stream layout • Improve safety, quality, and productivity APPLYING THE PRINCIPLES USING THE MANITOWOC WAY 5
Slide 6: Regional Market Conditions
Regional Market Conditions Europe - Tower business slowing - Mobile business holding up - Rising interest rates and softening housing market North America - Solid order intake Middle East - Strong utilization - Major infrastructure Asia-Pacific - Sufficient dealer inventory projects just beginning -
Slide 7: Financial & Other Key Metrics ($ millions)
Financial & Other Key Metrics ($ millions) (1) See appendix for reconciliation of GAAP to non-GAAP measures 7
Slide 8: Non-New Machine Sales Growth
Non-New Machine Sales Growth STRATEGY TO REDUCE CYCLICITY & DELIVER HIGHER MARGINS 8
Slide 9: Appendix
Q@anitowoc’ Appendix
Slide 10: Appendix - Other Financial Measures
Appendix- Other Financial Measures 10
Slide 11: Other Financial Measures
Appendix- Other Financial Measures (1) See appendix for reconciliation of GAAP to non-GAAP measures (2) (3) Net Operating Working Capital includes $81M from acquisitions in Q4 2021 Net Operating Working includes Net Accounts Receivable, Net Inventory, and Accounts Payable 11
Slide 12: GAAP to Non-GAAP Reconciliation: Adjusted Net Income and Adjusted DEPS
Appendix- GAAP to Non-GAAP Reconciliation Adjusted Net Income and Adjusted DEPS The Company defines adjusted net income as net income plus the addback or subtraction of restructuring and other non-recurring items. Adjusted DEPS is defined as adjusted net income divided by diluted weighted average sh
Slide 13: GAAP to Non-GAAP Reconciliation: Free Cash Flows
Appendix- GAAP to Non-GAAP Reconciliation Free Cash Flows The Company defines free cash flows as net cash provided by operating activities less cash outflow from investment in capital expenditures. The reconciliation of net cash provided by operating activities to free cash flows for the three month
Slide 14: GAAP to Non-GAAP Reconciliation: EBITDA and Adjusted EBITDA
Appendix- GAAP to Non-GAAP Reconciliation EBITDA and Adjusted EBITDA The Company defines EBITDA as net income (loss) before interest, taxes, depreciation, and amortization. The Company defines adjusted EBITDA as EBITDA plus the addback or subtraction of restructuring, other income (expense), and cer
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