Manitowoc (MTW) Q1 Earnings & Sales Top Estimates, Up Y/Y
Zacks Investment Research | May 10, 2019 07:23AM ET
The Manitowoc Company, Inc. (NYSE:MTW) delivered first-quarter 2019 adjusted earnings per share of 8 cents, beating the Zacks Consensus Estimate of a loss of 2 cents by a wide margin. Further, the company reversed its prior-year quarter’s loss of 12 cents per share.
Including special items, the company reported loss of 75 cents per share in first-quarter 2019, wider than the 28 cents per share recorded in the prior-year quarter.
Manitowoc’s revenues increased 8.3% year over year to $418 million in the reported quarter. The top-line figure also surpassed the Zacks Consensus Estimate of $394 million. This upside was driven by higher crane shipments in the Americas and EURAF regions, along with favorable price realization. This was partially offset by unfavorable changes in foreign-currency exchange rates.
The Manitowoc Company, Inc. Price, Consensus and EPS Surprise
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