Manitou (MTU) Q3 2026 earnings summary

Executive summary

• 9M 2026 revenue reached €2,069m, up 12.3% reported and 13.0% like for like; Q3 revenue was €642m, up 13.0% reported and 12.0% like for like.

• Activity was supported by European growth and a North American rebound, while LAPAM remained weaker; FY objectives were reaffirmed amid cost inflation and macroeconomic uncertainty.

Financial highlights

• 9M revenue increased from €1,842m to €2,069m, with positive volume of €149m, favorable mix and price of €89m, and unfavorable FX of €11m.

• 9M revenue by activity: machines €1,744m, up 14.1%; spare parts and attachments €256m, up 2.9%; services €69m, up 7.5%.

• Q3 revenue was €642m versus €568m; machines generated €534m, up 14.7%; spare parts and attachments €84m, up 6.3%; services €24m, up 2.1%.

Outlook and guidance

• FY 2026 objectives confirmed: revenue growth of 6.5%–8.0% versus 2025 and recurring operating profit margin of 5.3%–5.6%.

• Q4 activity expected to be good and close to Q4 2025, supported by a five-month order book at September 30, 2026.

• Priorities include productivity, cost control, pricing responses to inflation, competitiveness, and strengthening North American positioning for a 2027 recovery.