The Manitowoc Company, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2022
November 07, 2022 at 04:10 pm EST
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The Manitowoc Company, Inc. reported earnings results for the third quarter and nine months ended September 30, 2022. For the third quarter, the company reported sales was USD 454.7 million compared to USD 404.5 million a year ago. Net income was USD 2.3 million compared to net loss of USD 0.2 million a year ago. Basic earnings per share from continuing operations was USD 0.07 compared to basic loss per share from continuing operations of USD 0.01 a year ago. Diluted earnings per share from continuing operations was USD 0.07 compared to diluted loss per share from continuing operations of USD 0.01 a year ago.
For the nine months, sales was USD 1,410.9 million compared to USD 1,222.4 million a year ago. Net income was USD 20.5 million compared to USD 14.6 million a year ago. Basic earnings per share from continuing operations was USD 0.58 compared to USD 0.42 a year ago. Diluted earnings per share from continuing operations was USD 0.58 compared to USD 0.41 a year ago.
The Manitowoc Company, Inc. is a provider of engineered lifting solutions. The Company, through its wholly owned subsidiaries, designs, manufactures, markets, distributes, and supports comprehensive product lines of mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under the Aspen Equipment, Grove, Manitowoc, MGX Equipment Services, National Crane, Potain, and Shuttlelift brand names. Its segments include Americas segment, Europe and Africa (EURAF) segment and Middle East and Asia Pacific (MEAP) segment. The Americas segment includes the North America and South America continents. The EURAF segment includes the Europe and Africa continents, excluding the Middle East region. The MEAP segment includes the Asia and Australia continents and the Middle East region. Its crane products are used in a variety of applications throughout the world, including energy production/distribution and utility, petrochemical and industrial, and infrastructure.