The Manitowoc Company, Inc. MTW reported adjusted earnings per share (EPS) of 10 cents in fourth-quarter 2024, missing the Zacks Consensus Estimate of 14 cents. Compared with an EPS of 9 cents in the fourth quarter of 2023, Manitowoc’s earnings in the quarter under review marked an increase of 11%.

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Including one-time items, the company reported earnings of $1.59 per share in the fourth quarter of 2024 against the year-ago quarter’s loss of 23 cents.

MTW’s Orders Increase 8% Y/Y

Manitowoc’s revenues were fairly flat year over year at $596 million in the quarter under review. The top line surpassed the Zacks Consensus Estimate of $593 million. 

Orders increased 8.4% year over year to $516 million. The backlog at the end of the quarter was $650 million.

Manitowoc’s Margins Contract in Q4

The cost of sales declined 1.7% year over year to $500.8 million in the reported quarter. The gross profit was down 3.9% year over year to $95 million. The gross margin was 16% in the reported quarter compared with 16.6% in the year-ago quarter.

Engineering, selling and administrative expenses increased 12.6% year over year to $77 million. Total operating costs and expenses were $79 million in the quarter, down 11.5% year over year.

Adjusted operating income was $18.4 million in the quarter, down 12% from $20.9 million in the year-ago quarter. Adjusted EBITDA in the reported quarter was $34.9 million compared with $36.5 million in the year-ago quarter. The adjusted EBITDA margin declined to 5.9% from the year-ago quarter’s 6.1%.

MTW’s Cash Flow & Balance Sheet

Manitowoc reported cash and cash equivalents of $48 million at the end of 2024, up from $38 million at 2023 end. The long-term debt was $377 million at the end of 2024, up from $359 million at 2022 end.

The company generated $49 million in cash in operating activities in 2024 compared with $63 million in 2023.

Manitowoc’s 2024 Results

MTW reported adjusted EPS of 41 cents in 2024, 73% lower than the EPS of $1.52 in 2023. The bottom-line figure missed the Zacks Consensus Estimate of 45 cents.

Including one-time items, the company reported an EPS of $1.56 in 2024 compared with $1.09 per share in 2023.
Manitowoc’s revenues were down 4.4% year over year to $2.18 billion in 2024. The top line missed the consensus estimate of $2.17 billion.

MTW’s Guidance for 2025

Manitowoc expects revenues of $2.175-$2.275 billion in 2025. Adjusted EBITDA is projected between $120 million and $145 million. The company expects the adjusted EPS between 15 cents and 85 cents in 2025.

Manitowoc Stock’s Price Performance

In the past year, the company’s shares have lost 33.7% against the industry’s 10.9% growth.

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MTW’s Zacks Rank

Manitowoc currently carries a Zacks Rank #5 (Strong Sell). 

You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Performances of Other Manufacturing Stocks

Caterpillar Inc. CAT reported adjusted earnings per share of $5.14 for the fourth quarter of 2024, which beat the Zacks Consensus Estimate of $4.97 by a margin of 3%. However, the bottom line declined 2% year over year due to volume declines across its segments. The drop in sales volume was due to the impacts of changes in dealer inventories and lower sales of CAT equipment to end users.

Caterpillar reported fourth-quarter revenues of $16.2 billion, which missed the Zacks Consensus Estimate of $16.64 billion by a margin of 2.6%. The top line declined 5% year over year due to an overall decline in volumes in its segments and unfavorable price realization.

Terex Corporation TEX reported adjusted earnings per share of 77 cents, which beat the Zacks Consensus Estimate of 76 cents. The bottom line plunged 45% from the prior-year quarter due to lower volumes.

Revenues rose 1.5% year over year to $1.24 billion, which surpassed the Zacks Consensus Estimate of $1.23 billion. In October 2024, Terex completed the acquisition of Environmental Solutions Group, adding a market leader in waste and recycling to its portfolio. It will also enhance the company's financial profile, including revenues, free cash flow, the EBITDA margin and earnings per share.

Manufacturing Stock Awaiting Results

Hyster-Yale, Inc. HY, expected to release fourth-quarter 2024 results later this month, has a trailing four-quarter average earnings surprise of 10.3%. The Zacks Consensus Estimate for HY’s earnings is pegged at $1.38 per share, implying a year-over-year decline of 3.5%.

The consensus estimate for the company’s top line is pegged at $1.02 billion, indicating a 0.5% dip from the prior-year reported figure.

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