Quarterly ResultMay 5, 2026, 04:27 PM
Manitowoc Q1 Net Sales $494.6M, Orders Up 5.8%; Maintains Guidance
AI Summary
The Manitowoc Company reported mixed first-quarter 2026 financial results, with net sales increasing 5.0% to $494.6 million and orders up 5.8% to $645.7 million, leading to a two-year high backlog of $939.9 million. Despite the revenue growth and strong demand indicators, the company posted a net loss of $(6.0) million and adjusted EBITDA declined 9.7% to $19.6 million. Manitowoc reaffirmed its full-year 2026 guidance, highlighting the strength of its CRANES+50 strategy in driving stable, higher-margin recurring revenue.
Key Highlights
- Orders increased 5.8% year-over-year to $645.7 million, with backlog reaching $939.9 million.
- Net sales rose 5.0% year-over-year to $494.6 million.
- Reported a net loss of $(6.0) million, or $(0.17) per diluted share.
- Adjusted net loss was $(4.6) million, or $(0.13) per diluted share.
- Adjusted EBITDA decreased 9.7% year-over-year to $19.6 million.
- Net cash provided by operating activities was $27.4 million, with free cash flows of $19.2 million.
- Non-new machine sales grew 3.2% year-over-year to $165.7 million.
- Company maintains its full-year 2026 guidance.