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Manitowoc Co Inc  (MTW)
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EARNINGS REPORT by CSIMarket

Earnings helped by tax benefit


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A $11 million tax benefit, helped Manitowoc Co Inc to post $0.32 eps in the third quarter 2018, revenue expected to reach $3,770 millions, for the Year



For the third quarter 2018 earnings per share soared by 357.14 % to $0.32 per share, followed by Sales increase of 12.69 % to $450 millions, compared with the prior year period.

From second quarter 2018, income per share increased by 18.52 % from $0.27 per share and Sales deteriorated by -9.13 % from $495 millions.
Manitowoc Co Inc said it's sales growth was driven by Foodservice equipment segment up 1.97%, while sales in Cranes or related products segment fell -23.01%.
All of the company's earnings growth, was located in Foodservice equipment segment, while growth was cut back by -89.66% in Cranes or related products business. Earnings grew 19.79 % to $12 millions for the third quarter 2018, compare to income of $10 millions achieved a year before.

The company's bottom-line growth was helped by $11 million tax benefit, without it, the third quarter 2018 results would be much more moderate. Manitowoc Co Inc also emphasized it's improving profit margins, where net margin rose to 2.55% in third quarter 2018, and operating margin edged up to 3.75%. Company provided revenue outlook in the range between, $3,692 millions and $3,848 millions.

The Construction & Mining Machinery company, also outlined contraction in Crane segment backlog -11.82 %.

Manitowoc Co Inc is expected to report next financial results on February 04, 2019.
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Manitowoc Co Inc reported second quarter 2018 earnings

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