Manitowoc Company Inc
NYSE:MTW
Manitowoc Company Inc
The Manitowoc Co., Inc. provides engineered lifting solutions. The company is headquartered in Milwaukee, Wisconsin and currently employs 4,600 full-time employees. The Company, through its subsidiaries, designs, manufactures, markets, and supports product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes. The firm's segments include the Americas; Europe and Africa (EURAF); and the Middle East and Asia Pacific (MEAP). The company designs and manufactures a line of slewing and self-erecting tower cranes, which it sells under the Potain brand name. The company designs and manufactures mobile hydraulic cranes, which it sells under the Grove, Shuttlelift and National Crane brand names. The company also provides crane product parts and services and crane rebuilding, remanufacturing and training services. The firm serves a variety of customers, including dealers, rental companies, contractors, and government entities, across the petrochemical, industrial, commercial construction, power and utilities, infrastructure and residential construction end markets.
The Manitowoc Co., Inc. provides engineered lifting solutions. The company is headquartered in Milwaukee, Wisconsin and currently employs 4,600 full-time employees. The Company, through its subsidiaries, designs, manufactures, markets, and supports product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes. The firm's segments include the Americas; Europe and Africa (EURAF); and the Middle East and Asia Pacific (MEAP). The company designs and manufactures a line of slewing and self-erecting tower cranes, which it sells under the Potain brand name. The company designs and manufactures mobile hydraulic cranes, which it sells under the Grove, Shuttlelift and National Crane brand names. The company also provides crane product parts and services and crane rebuilding, remanufacturing and training services. The firm serves a variety of customers, including dealers, rental companies, contractors, and government entities, across the petrochemical, industrial, commercial construction, power and utilities, infrastructure and residential construction end markets.
Revenue Growth: Q4 2025 net sales were $677 million, up 14% year-over-year, driven by strong shipments in North America and Europe as well as growth in non-new machine sales.
Strong Orders & Backlog: Q4 orders reached $803 million, up 56% year-over-year; year-end backlog grew 22% to $794 million.
Non-New Machine Sales: This segment hit a record $690 million for the year, a 10% increase, and remains a key part of the company’s growth strategy.
Profitability: Q4 adjusted EBITDA was $40 million (margin 5.8%), up $5 million year-over-year; full-year adjusted EBITDA was $122 million, matching expectations.
Tariff Headwinds: Tariffs negatively impacted results by $4 million in Q4 and $39 million for the year, though most of the impact was offset by price and sourcing actions.
2026 Guidance: Management expects net sales of $2.25–2.35 billion and adjusted EBITDA of $125–150 million, with free cash flow projected at $40–65 million.
Regional Trends: Europe and Asia Pacific show improving momentum; the Middle East remains positive but bumpier; the Americas face mixed conditions due to tariffs but could rebound if conditions stabilize.
Restructuring & Efficiency: A restructuring plan is expected to save $10 million in 2026, offsetting inflation and FX headwinds.
