The Manitowoc Company Reports Q4 Revenue Up 13.6% to $677.1M
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 09 2026
0mins
Should l Buy MTW?
Reports Q4 revenue $677.1M, up 13.6% year-over-year. "I am really proud of the team's strong finish to a challenging year. We ended the fourth quarter with orders in excess of $800 million, $40 million in adjusted EBITDA, and free cash flow of $78 million. For the year, our adjusted EBITDA was $122 million, in line with our expectations. In addition, we continued to execute our CRANES+50 strategy, ending the year with over $690 million in non-new machine sales," said Aaron H. Ravenscroft, President and Chief Executive Officer of The Manitowoc Company, Inc.
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Analyst Views on MTW
Wall Street analysts forecast MTW stock price to fall
2 Analyst Rating
0 Buy
0 Hold
2 Sell
Moderate Sell
Current: 14.810
Low
9.00
Averages
9.50
High
10.00
Current: 14.810
Low
9.00
Averages
9.50
High
10.00
About MTW
The Manitowoc Company, Inc. is a provider of engineered lifting solutions. The Company, through its wholly owned subsidiaries, designs, manufactures, markets, distributes, and supports comprehensive product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX Equipment Services, National Crane, Potain, and Shuttlelift brand names. Its segments include Americas segment, Europe and Africa (EURAF) segment and Middle East and Asia Pacific (MEAP) segment. The Americas segment includes the North America and South America continents. The EURAF segment includes the Europe and Africa continents, excluding the Middle East region. The MEAP segment includes the Asia and Australia continents and the Middle East region. The Company’s crane products are used in a variety of applications throughout the world, including energy production/distribution and utility, petrochemical and industrial, and infrastructure.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Manitowoc Company Q4 2025 Earnings Call Highlights
- 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.
See More
Manitowoc Q4 Earnings Report Analysis
- 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.
See More
Manitowoc's MGX Equipment Services Partners with Hiab for U.S. Distribution
- Dealer Agreement Signed: Manitowoc's wholly-owned subsidiary, MGX Equipment Services, has entered into a dealer agreement with Hiab to distribute HIAB loader cranes and provide aftermarket parts and services, marking a significant step in the company's market expansion.
- Expanded Coverage Area: Under the agreement, MGX will serve customers in 13 states, including Colorado, Delaware, and Iowa, which not only enhances Manitowoc's direct customer engagement in the U.S. but also strengthens its competitive position in the market.
- Strategic Market Adjustment: By partnering with Hiab, Manitowoc can more effectively meet customer demands for high-quality lifting equipment, thereby driving sales growth and enhancing brand influence, further solidifying its position in the industry.
- Market Reaction: Manitowoc's stock price dipped slightly to $15.03 in pre-market trading; although the market remains optimistic about its Q3 recovery, investors should cautiously assess its long-term investment value.
See More
Manitowoc Completes Strategic Dealer Agreement with Hiab
- Strategic Partnership: Manitowoc's wholly-owned subsidiary MGX has completed a strategic dealer agreement with Hiab, expanding MGX's direct-to-customer footprint in the U.S. by adding distribution of HIAB loader cranes and aftermarket support, enhancing market competitiveness.
- Market Expansion: MGX will now serve Hiab customers across 13 states, including Colorado and Delaware, which will drive growth in the U.S. market through improved service capabilities and deeper customer engagement.
- Growth Potential: This agreement not only accelerates the growth of MGX and Manitowoc in the U.S. but also creates new opportunities for both companies to meet diverse customer needs with a broader range of lifting solutions.
- Enhanced Industry Influence: Hiab executives noted that the partnership with MGX significantly enhances their coverage in the U.S. market, providing premium sales and service support, indicating strong growth prospects ahead.
See More
Manitowoc Scheduled to Announce Q4 Earnings on February 9
- Earnings Announcement Date: Manitowoc is set to release its Q4 earnings on February 9 after market close, with consensus EPS estimate at $0.27 and revenue estimate at $637 million, reflecting a 6.9% year-over-year growth.
- Historical Performance Review: Over the past two years, Manitowoc has only beaten EPS estimates 13% of the time and revenue estimates 38% of the time, indicating significant performance volatility.
- Recent Forecast Changes: In the last three months, there have been no upward revisions to EPS estimates, with one downward revision, suggesting a cautious market outlook regarding the company's future performance.
- Market Analyst Perspective: Although there are signs of recovery in Q3, analysts believe Manitowoc is not yet a buy, urging investors to carefully assess the company's financial health before making investment decisions.
See More
Manitowoc: EU Initiates Investigation into Chinese Mobile Crane Imports for Anti-Dumping Practices
Investigation Initiation: The European Commission has launched an anti-dumping investigation into mobile crane imports from China, prompted by a complaint from European manufacturers represented by the VDMA Materials Handling and Intralogistics Association.
Concerns Over Competition: The investigation aims to address concerns regarding unfair competition due to low-priced Chinese cranes, which are believed to threaten over 7,000 jobs in Europe and impact the broader supply chain.
Evidence of Injury: VDMA members, including major companies like Liebherr and Manitowoc, have provided evidence of material injury caused by predatory pricing and advantages enjoyed by Chinese exporters, such as government subsidies and favorable financing.
Importance of European Cranes: European-made mobile cranes are vital for infrastructure, renewable energy, and defense projects, highlighting the industry's commitment to safety, performance, and compliance with EU standards.
See More
Manitowoc Company Q4 2025 Earnings Call Highlights
- 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.
See More
Manitowoc Q4 Earnings Report Analysis
- 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.
See More
Manitowoc's MGX Equipment Services Partners with Hiab for U.S. Distribution
- Dealer Agreement Signed: Manitowoc's wholly-owned subsidiary, MGX Equipment Services, has entered into a dealer agreement with Hiab to distribute HIAB loader cranes and provide aftermarket parts and services, marking a significant step in the company's market expansion.
- Expanded Coverage Area: Under the agreement, MGX will serve customers in 13 states, including Colorado, Delaware, and Iowa, which not only enhances Manitowoc's direct customer engagement in the U.S. but also strengthens its competitive position in the market.
- Strategic Market Adjustment: By partnering with Hiab, Manitowoc can more effectively meet customer demands for high-quality lifting equipment, thereby driving sales growth and enhancing brand influence, further solidifying its position in the industry.
- Market Reaction: Manitowoc's stock price dipped slightly to $15.03 in pre-market trading; although the market remains optimistic about its Q3 recovery, investors should cautiously assess its long-term investment value.
See More
Manitowoc Completes Strategic Dealer Agreement with Hiab
- Strategic Partnership: Manitowoc's wholly-owned subsidiary MGX has completed a strategic dealer agreement with Hiab, expanding MGX's direct-to-customer footprint in the U.S. by adding distribution of HIAB loader cranes and aftermarket support, enhancing market competitiveness.
- Market Expansion: MGX will now serve Hiab customers across 13 states, including Colorado and Delaware, which will drive growth in the U.S. market through improved service capabilities and deeper customer engagement.
- Growth Potential: This agreement not only accelerates the growth of MGX and Manitowoc in the U.S. but also creates new opportunities for both companies to meet diverse customer needs with a broader range of lifting solutions.
- Enhanced Industry Influence: Hiab executives noted that the partnership with MGX significantly enhances their coverage in the U.S. market, providing premium sales and service support, indicating strong growth prospects ahead.
See More
Manitowoc Scheduled to Announce Q4 Earnings on February 9
- Earnings Announcement Date: Manitowoc is set to release its Q4 earnings on February 9 after market close, with consensus EPS estimate at $0.27 and revenue estimate at $637 million, reflecting a 6.9% year-over-year growth.
- Historical Performance Review: Over the past two years, Manitowoc has only beaten EPS estimates 13% of the time and revenue estimates 38% of the time, indicating significant performance volatility.
- Recent Forecast Changes: In the last three months, there have been no upward revisions to EPS estimates, with one downward revision, suggesting a cautious market outlook regarding the company's future performance.
- Market Analyst Perspective: Although there are signs of recovery in Q3, analysts believe Manitowoc is not yet a buy, urging investors to carefully assess the company's financial health before making investment decisions.
See More
Manitowoc: EU Initiates Investigation into Chinese Mobile Crane Imports for Anti-Dumping Practices
Investigation Initiation: The European Commission has launched an anti-dumping investigation into mobile crane imports from China, prompted by a complaint from European manufacturers represented by the VDMA Materials Handling and Intralogistics Association.
Concerns Over Competition: The investigation aims to address concerns regarding unfair competition due to low-priced Chinese cranes, which are believed to threaten over 7,000 jobs in Europe and impact the broader supply chain.
Evidence of Injury: VDMA members, including major companies like Liebherr and Manitowoc, have provided evidence of material injury caused by predatory pricing and advantages enjoyed by Chinese exporters, such as government subsidies and favorable financing.
Importance of European Cranes: European-made mobile cranes are vital for infrastructure, renewable energy, and defense projects, highlighting the industry's commitment to safety, performance, and compliance with EU standards.
See More
