MTW News & Events

Reports Q revenue $494.6M, one estimates $516.6M. "The Manitowoc team delivered first quarter results in line with expectations. Backlog reached $940 million, our highest level in two years, reflecting strong demand for our products. Under our CRANES+50 strategy, non-new machine sales rose 8% on a trailing twelve-month basis to a record $696 million. In addition, customer feedback to our new products and aftermarket offerings at the ConExpo trade show was outstanding," commented Aaron H. Ravenscroft, President and Chief Executive Officer of The Manitowoc Company. "Backlog remains strong, orders are healthy, and customer sentiment continues to improve. In addition, our CRANES+50 strategy is driving more stable, higher-margin recurring revenue, which sets a strong foundation for our long-term success."

The Manitowoc Company announced that Jennifer Peterson has been appointed Executive Vice President, Chief Legal and People Officer, and Secretary. In her expanded role, Peterson will lead Manitowoc's global human resources, legal, and risk management functions.

Following Friday's broad-based gains, U.S. equity markets continued their rebound on Monday, with Basic Materials leading the charge but Technology - a sector responsible for much of the volatility last week - also extending its gains.  The Software Application group was still mixed, but Semiconductors and AI-related large-cap Software Infrastructure traded with greater conviction as Nvidiarose 2.5%, Microsoftrallied 3%, and Oracle- down 60% from September high as recently as last week - spiked 10%.  In the opening hour of the evening session, futures are in consolidation mode - S&P e-minis and Nasdaq 100 are both trading flat.Strength in commodities continues to drive in bid in Basic Materials and Energy - the top two sectors year-to-date.  In the evening session, WTI Crude Oil remains above $64 per barrel, with Gold and Silver at $5,060 and just shy of $82 per ounce respectively.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -Ichorup 19.7&Credo Technologyup 14.6%AECOMup 3.2%Amkor Technologyup 2.5%ALSO HIGHER -RingCentralup 5.3% after entering S&P SmallCap 600DOWN AFTER EARNINGS -Upworkdown 24.2%Goodyear Tire & Rubberdown 11.0%Amentum Holdingsdown 10.8%ZoomInfodown 6.0%Principal Financial Groupdown 5.5%ON Semidown 5.0%Medpace Holdingsdown 4.8%Manitowoc Companydown 2.2%ALSO LOWER -REGENXBIOdown 17.1% after FDA issues CRL for BLA for RGX-121