Crane and lifting equipment company Manitowoc (NYSE:MTW) fell short of analysts’ expectations in Q2 CY2024, with revenue down 6.8% year on year to $562.1 million. The company’s full-year revenue guidance of $2.2 billion at the midpoint also came in 3.5% below analysts’ estimates. It made a non-GAAP profit of $0.25 per share, down from its profit of $0.75 per share in the same quarter last year.
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Manitowoc (MTW) Q2 CY2024 Highlights:
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Revenue: $562.1 million vs analyst estimates of $598.1 million (6% miss)
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EPS (non-GAAP): $0.25 vs analyst expectations of $0.49 (48.5% miss)
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EPS (non-GAAP) guidance for the full year is $0.68 at the midpoint, missing analyst estimates by 42.3%
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EBITDA guidance for the full year is $132,500 at the midpoint, below analyst estimates of $159.5…
