Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — Q2 2024 Earnings Presentation
15 slides from Manitowoc Company, Inc. (the)'s earnings presentation, Aug 8, 2024
Slide 1: Second-Quarter 2024 Earnings Conference Call
Second-Quarter 2024 Earnings Conference Call August 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: Crane Days 2024: Crane Renaissance Coming
Crane Days 2024 CRANE RENAISSANCE COMING 3
Slide 4: Market Conditions
Market Conditions North America Europe - Strong activity; good utilization - Strong mobiles activity not - Orders down despite despite translating to orders positive sentiment - Trough levels on towers - Dealer inventory levels mixed - Q4 to provide some visibility on depending on product 2025 marke
Slide 5: The Manitowoc Way Highlights – China
The Manitowoc Way Highlights – China Implementing global standards Reinforcements on plant foundation and structures INVESTING IN LARGE TOWER PRODUCTION 5
Slide 6: Second-quarter 2024 Financial & Other Key Metrics
Second-quarter 2024 Financial & Other Key Metrics ($ in millions, ex per share amounts) -1% -13% +10% +22% +39% EU TOWER HEADWIND TO YEAR-OVER-YEAR RESULTS 6
Slide 7: Second-quarter 2024 Financial & Other Key Metrics: Net Working Capital
Second-quarter 2024 Financial & Other Key Metrics ($ in millions) Net Working Capital $759 $727 NWC $489 NWC $516 $513 $500 $275 $257 Jun 2023 Jun 2024 Net Inventory Net Receivables Accounts Payable & Other 1 FOCUS ON REDUCING NET WORKING CAPITAL TO GENERATE FREE CASH FLOW _____________________ 1: O
Slide 8: Updated 2024 Full-Year Guidance
Updated 2024 Full-Year Guidance Net Sales $2.175 to $2.225 billion (Previously $2.275 to $2.375 billion) Adjusted EBITDA $125 to $140 million (Previously $150 to $180 million) Depreciation and amortization $60 to $63 million (Previously $63 to $67 million) Interest expense $36 to $38 million (Previo
Slide 9: Non-New Machine Sales Growth
Non-New Machine Sales Growth ($ in millions) +34% $603 $449 2021 TTM June 2024 BUILDING A HIGHER-MARGIN, LESS CYCLICAL BUSINESS 9
Slide 10: Appendix
Appendix
Slide 11: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended June 30, 2024 2023 As reported Adjustments Adjusted As reported Adjustments Adjusted Gross profit $ 99.7 $ 0 $ 99.7 $ 123.0 $ 0 $ 123.0 Engineering, selling, and administrative expenses (83.7) 5.4 (78.3) (87.6) 10.8 (76.8) Amortization of
Slide 12: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended Six Months Ended June 30, June 30, Trailing Twelve 2024 2023 2024 2023 Months Net income (loss) $ 1.6 $ 20.2 $ 6.1 $ 36.7 $ 8.6 Interest expense and amortization of deferred financing fees 10.0 9.4 19.5 17.8 36.9 Provision for income taxe
Slide 13: Appendix – GAAP to Non-GAAP Reconciliation
Appendix – GAAP to Non-GAAP Reconciliation Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Net cash provided by (used for) operating activities $ 11.0 $ (17.2) $ (19.6) $ (3.1) Capital expenditures (12.9) (27.0) (25.1) (36.3) Free cash flows $ (1.9) $ (44.2) $ (44.7) $ (39.
Slide 14: Appendix – Adjusted ROIC Calculation
Appendix – Adjusted ROIC Calculation Trailing Twelve Months Ended June 30, 2024 Operating income $ 55.9 Amortization of intangible assets 3.0 Restructuring expense 3.9 Other non-recurring items - net 16.5 Adjusted operating income 79.3 Provision for income taxes (11.9) Adjusted NOPAT $ 67.4 5-Quarte
Slide 15: 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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