Manitowoc Company, Inc. (the) · NYSE:MTW
Manitowoc Company, Inc. (the) — Q3 2022 Earnings Presentation
12 slides from Manitowoc Company, Inc. (the)'s earnings presentation, Nov 8, 2022
Slide 1: Third-Quarter 2022 Earnings Conference Call
Third-Quarter 2022 Earnings Conference Call Aaron Ravenscroft – President & Chief Executive Officer November 8, 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 and
Slide 3: Third-quarter Summary
Third-quarter Summary Solid execution despite headwinds • Robust backlog of $943M • Continued parts shortages, labor constraints, logistics disruptions, and inflation • Inflation and rising interest rates tempering demand • Aftermarket grew +27% YOY No meaningful Q/Q changes in market sentiment • NA
Slide 4: Continuing Progress on CRANES+50
Continuing Progress on CRANES+50 MGX and Aspen Expanded Boom Truck Territory Acquired Honnen Territory EXPANDING DIRECT-TO-CUSTOMER FOOTPRINT 4
Slide 5: bauma 2022 Trade Show
bauma 2022 Trade Show NEW OFFERINGS RECEIVED POSITIVE RECEPTION AT BAUMA 5
Slide 6: Financial & Other Key Metrics ($ millions)
Financial & Other Key Metrics ($ millions) Q3 2022 Q3 2021 Y/Y ∆ Orders $ 472.0 $ 540.6 (12.7)% Net sales 454.7 404.5 12.4 % Engineering, selling & admin expenses 65.8 59.7 10.2 % Operating income 7.6 7.3 4.1 % Adjusted operating income (1) 8.7 9.7 (10.3)% Net income (loss) 2.3 (0.2) NM Adjusted net
Slide 7: Appendix
Q@anitowoc Appendix
Slide 8: Appendix
Appendix $1,200 $700 $1,000 $600 $500 $200 » $400 g g = $600 3 & $300 ° $400 $200 $200 100 ¢ ¢ 3 2019 94 2019 1 2020.02 2020 03 2020 4 2020 Q1 2021 022021 03 2021 Q4 2021.21 2022 022022 03 2022 [Ending Backlog —Orders $600 12.0% $500 10.0% $400 8.0% $300 6.0% $200 4.0% $100 2.0% s 0.0% Q3 2019 Q4 20
Slide 9: Appendix
Appendix (1) See appendix for reconciliation of GAAP to non-GAAP measures (2) (3) Net Operating Working Capital includes $86M from acquisitions in Q4 2021 Net Operating Working Capital includes Net Accounts Receivable, Net Inventory, and Accounts Payable 9
Slide 10: Appendix- Adjusted EBITDA Reconciliation
Appendix- Adjusted EBITDA Reconciliation Three Months Ended Nine Months Ended Trailing September 30, September 30, Twelve 2022 2021 2022 2021 Months Net income (loss) $ 2.3 $ (0.2) $ 20.5 $ 14.6 $ 16.9 Interest expense and amortization of deferred financing fees 8.3 7.5 24.3 22.6 32.1 Provision (ben
Slide 11: Appendix- Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures 11
Slide 12: Appendix- Non-GAAP Financial Measures
Appendix- Non-GAAP Financial Measures 12