European Mobile Crane Sector Files Trade Complaint Over Unfair Chinese Crane Imports
VDMA Complaint: The VDMA Materials Handling and Intralogistics Association has filed a complaint with the European Commission regarding unfair competition from Chinese mobile cranes, urging an investigation into their imports.
Industry Representation: The complaint is supported by major companies, including Manitowoc, Liebherr, Sennebogen, and Tadano, which collectively represent about 92% of the EU mobile crane industry.
Strategic Importance: The focus is on mobile cranes with a lifting capacity of at least 30 tons, essential for Europe's strategic independence in critical infrastructure, defense, and energy sectors.
Call for Fair Competition: Manitowoc's CEO emphasized the need for fair competition and urged the European Commission to address the material injury caused by Chinese dumping tactics to restore a level playing field in the EU.
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- Order and Backlog Status: Manitowoc reported nearly $650 million in orders for Q1 2026, with a backlog of $940 million, indicating strong market demand even amid an economic downturn, which is expected to support future performance growth.
- Financial Performance and Guidance: The company reaffirmed its 2026 net sales guidance of $2.25 billion to $2.35 billion and adjusted EBITDA of $125 million to $150 million, reflecting management's optimistic outlook despite challenges posed by tariff volatility.
- Product Updates and Market Feedback: The introduction of an 80-ton boom truck and an 800-ton all-terrain crane at CONEXPO received positive feedback, with expectations to launch in 2027, enhancing the competitiveness of the product line and potentially driving future sales growth.
- Operational Efficiency Improvement: Following the implementation of the ServiceMax asset management system, non-new machine sales grew by 3% year-over-year, demonstrating the company's potential for expansion in aftermarket services and accessories, which is expected to further enhance customer satisfaction and market share.
- Disappointing Earnings: Manitowoc reported a Q1 non-GAAP EPS of -$0.13, missing expectations by $0.17, indicating challenges in profitability that could undermine investor confidence.
- Lackluster Revenue Growth: Revenue increased by 5.0% year-over-year to $494.6M, yet fell short of expectations by $22M, reflecting a failure to fully convert market demand into sales, which may impact future financial performance.
- Positive Order Trends: The total order amount reached $645.7M, up 5.8% year-over-year, demonstrating stability in market demand that could support future revenue growth.
- High Backlog: Manitowoc's ending backlog stood at $939.9M, indicating potential revenue sources in the coming months, but also necessitating attention to production capacity to meet demand.
- Net Loss Overview: Manitowoc Company reported a net loss of $6.0 million for Q1, translating to a loss of $0.17 per share, which is an improvement from last year's loss of $6.3 million or $0.18 per share, indicating efforts in loss control.
- Adjusted Loss Figures: The adjusted loss stood at $4.6 million, or $0.13 per share, compared to $5.7 million and $0.16 per share in the previous year, suggesting improvements in operational efficiency despite ongoing challenges.
- Sales Growth: The company achieved net sales of $494.6 million in the first quarter, up 5.02% from $470.9 million last year, reflecting a recovery in market demand and the competitiveness of its products.
- Stock Price Reaction: Following the earnings report, Manitowoc's stock fell by 11.34% in after-hours trading to $12.12 per share, indicating a negative investor reaction to the financial results, which may impact future financing capabilities.
- Order Growth: In Q1 2026, Manitowoc reported total orders of $645.7 million, reflecting a 5.8% year-over-year increase, which indicates strong market demand and pushes the backlog to $939.9 million, the highest level in two years, showcasing the company's competitive strength in the industry.
- Sales Performance: The net sales for the first quarter reached $494.6 million, up 5.0% year-over-year, with non-new machine sales at $165.7 million, a 3.2% increase, reflecting sustained demand for existing product lines and enhancing revenue stability.
- Cash Flow Performance: The company generated $27.4 million in net cash from operating activities and reported free cash flows of $19.2 million, demonstrating effective cash management that provides a solid financial foundation for future investments and operations.
- Adjusted Net Loss: The adjusted net loss for the first quarter was $4.6 million, with a diluted loss per share of $0.13; despite facing challenges, the management remains optimistic about the future, emphasizing that the successful implementation of the CRANES+50 strategy will lay a strong foundation for long-term growth.
- Sales Performance Growth: Manitowoc reported Q4 2025 net sales of $677 million, a 14% year-over-year increase, driven by higher shipments of tower cranes in North America and Europe, with non-new machine sales reaching a record $690 million, indicating strong market performance.
- Order and Backlog Situation: The company generated $803 million in orders during Q4, up 56% year-over-year, with a year-end backlog of $794 million, reflecting robust order momentum, particularly in Europe and Asia Pacific.
- Financial Outlook and Restructuring Plan: Manitowoc projects 2026 net sales between $2.25 billion and $2.35 billion, with adjusted EBITDA expected to range from $125 million to $150 million, alongside a restructuring plan targeting approximately $10 million in annual savings to mitigate ongoing tariff pressures.
- Market Challenges and Strategic Response: Despite challenges from tariffs and flat rental rates, management remains confident in future strategic execution and new product launches, emphasizing growth through expanded distribution agreements and non-new machine sales.
- Earnings Performance: Manitowoc reported a Q4 non-GAAP EPS of $0.26, missing expectations by $0.01, while revenue reached $677.1 million, a 13.6% year-over-year increase, exceeding forecasts by $40.1 million, indicating resilience in the market.
- 2026 Financial Guidance: The company projects net sales for 2026 to be between $2.25 billion and $2.35 billion, with adjusted EBITDA expected to range from $125 million to $150 million, reflecting a cautiously optimistic outlook for future growth despite market challenges.
- Capital Expenditure Plans: Anticipated capital expenditures for 2026 are set at $45 million to $50 million, with approximately $25 million allocated for the rental fleet, which will enhance operational capabilities and support future business expansion.
- Restructuring Plan Impact: Manitowoc's restructuring plan is expected to deliver $10 million in annualized savings by 2026, which will help improve the company's financial health and profitability, although short-term challenges may persist.








