The Manitowoc Company (MTW) investor relations material

Executive summary

• Q3 net sales rose 10.9% YoY to $613.8M; adjusted EBITDA increased 39.0% to $47.4M, with a 7.7% margin.

• Orders rose 37.6% YoY to $676.4M and backlog reached $1,110.9M, up 66.7% YoY and extending its expansion to four consecutive quarters.

• FY2026 adjusted EBITDA and adjusted diluted EPS guidance increased; net sales guidance remained $2.3B–$2.4B.

Financial highlights

• Q3 operating income increased to $31.8M from $18.5M; net income was $11.0M versus $5.0M, and diluted EPS was $0.30 versus $0.14.

• Adjusted net income was $11.5M and adjusted diluted EPS $0.31, versus $5.0M and $0.14; adjusted EBITDA was $47.4M versus $34.1M.

• Gross profit rose 18.7% to $121.8M; gross margin increased to 19.8% from 18.5%, primarily on price realization.

• Non-new machine sales were $174.1M, down 1.9% YoY; lower used-crane shipments were offset by growth in higher-margin parts and service.

• 9M sales grew 8.9% to $1.703B; net income was $19.2M versus $0.2M, and adjusted net income was $23.7M versus $2.1M.

Outlook and guidance

• FY2026 adjusted EBITDA guidance increased to $160M–$175M from $150M–$170M; adjusted diluted EPS guidance rose to $0.90–$1.25 from $0.80–$1.20.

• FY2026 net sales guidance remained $2.3B–$2.4B; backlog provides visibility into Q4 and 2027.

• Roughly half of the backlog is expected to ship in Q4; about $90M of Q4 free cash flow is needed to reach the full-year guidance midpoint.

• 2027 demand indicators were healthy, but no 2027 guidance was issued; year-end net leverage was expected to approach 2x.

• Priorities include backlog execution, working-capital efficiency and aftermarket growth through CRANES + 50; long-term aspirations remain $3B revenue, 12% EBITDA and 15% ROIC.