Manitowoc reports Q2 adjusted EPS 75c, consensus 31c

Reports Q2 revenue $602.8M, consensus $524.11M. “Manitowoc’s strong second-quarter revenue and double-digit adjusted EBITDA margin exceeded our expectations. We continue to make progress on CRANES+50 with an 8.1% increase in non-new machine sales year-over-year contributing to these results. The overall market remained strong in the Americas which offset softness in the European tower crane business,” commented Aaron H. Ravenscroft, President and Chief Executive Officer of The Manitowoc Company, Inc.