Manitowoc reports Q1 adjusted EPS 14c, consensus 18c

Reports Q1 revenue $495.1M, consensus $494.9M. “Manitowoc’s first-quarter performance was in line with our expectations. Although we continue to face unfavorable mix with the continuing slowdown in the European tower crane market, our orders in the first quarter were up 5.6% year-over-year; we ended the quarter with a strong backlog. As we look at the balance of 2024, we remain focused on reducing our inventory and generating free cash flows,” commented Aaron H. Ravenscroft, President and Chief Executive Officer of The Manitowoc Company, Inc.