MTW

EX-99.1

2 mtw-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

The Manitowoc Company Reports Strong Third-Quarter 2026 Results; Raises Full Year Guidance

Third-Quarter 2026 Highlights

• Orders of $676.4 million, up 37.6% year-over-year. Backlog of $1,110.9 million

• Net sales of $613.8 million, up 10.9% year-over-year

• Net income of $11.0 million, up 120% year-over-year

• Adjusted EBITDA(1) of $47.4 million, up 39.0% year-over-year

MILWAUKEE, Wis. - The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”) today reported third-quarter net income of $11.0 million, or $0.30 per diluted share. Third-quarter adjusted net income(1) was $11.5 million or $0.31 per diluted share.

Orders in the third quarter were $676.4 million, a 37.6% increase from the prior year, resulting in backlog of $1,110.9 million at the end of the quarter.

Net sales in the third quarter were $613.8 million, an increase of 10.9% from the prior year. Non-new machine sales were $174.1 million, a decrease of 1.9% year-over-year. Adjusted EBITDA(1) was $47.4 million, an increase of 39.0% from the prior year.

“Manitowoc’s third quarter results exceeded our expectations, highlighted by robust orders, double-digit sales growth, and a significant improvement in adjusted EBITDA. Backlog expanded over the last four consecutive quarters, reflecting continued strength in crane demand, particularly in the Americas, Middle East, and Asia Pacific, providing good visibility to the fourth quarter and into 2027. I am proud of the team’s continued focus on serving our customers and executing our strategic priorities,” commented Aaron H. Ravenscroft, President and Chief Executive Officer of The Manitowoc Company, Inc.

“For the remainder of the year, our priorities remain clear: execute against our backlog, improve working-capital efficiency, and continue to grow the aftermarket business through our CRANES+50 strategy. Given our strong momentum, we have raised our guidance for adjusted EBITDA and adjusted diluted earnings per share,” concluded Ravenscroft.

Updated Full-Year 2026 Guidance

The Company’s updated guidance for adjusted EBITDA and adjusted diluted earnings per share, and a comparison to its prior guidance, is summarized in the table below.

Updated Guidance

Prior Guidance

Net sales

No change

$2.3 to $2.4 billion

Adjusted EBITDA

$160 to $175 million

$150 to $170 million

Depreciation and amortization

No change

$60 million

Interest expense

No change

$35 to $38 million

Provision for income tax expense

No change

$17 to $24 million, excluding one-time expenses

Adjusted diluted earnings per share

$0.90 to $1.25

$0.80 to $1.20

Capital expenditures

No change

$45 to $50 million, $25 million related to the rental fleet

Free cash flows

No change

$50 to $70 million

The Company’s guidance includes adjusted EBITDA, adjusted diluted earnings per share, and free cash flows, which are non-GAAP financial measures. The Company does not provide guidance for the most directly comparable U.S. GAAP measures because it is unable to predict, with reasonable certainty and without unreasonable effort, certain amounts that are excluded from these non-GAAP measures, including, but not limited to, restructuring expenses, other non-recurring items - net and other expense - net. These items are uncertain, depend on various factors and could have a material impact on the Company’s results calculated in accordance with U.S. GAAP. Accordingly, the Company has not provided reconciliations of its 2026 guidance for adjusted EBITDA, adjusted diluted earnings per share, and free cash flows to the most directly comparable U.S. GAAP measures because it would be too difficult to prepare a reliable U.S. GAAP quantitative reconciliation without unreasonable effort. The

Company also believes that providing such reconciliations would imply a degree of precision that could be confusing or misleading to investors.

The guidance set forth above constitutes forward-looking information and is subject to the risks and uncertainties described under "Forward-Looking Statements" below and in the Company's filings with the Securities and Exchange Commission.

Investor Conference Call

The Manitowoc Company will host a conference call for security analysts and institutional investors to discuss its third-quarter 2026 earnings results on Wednesday, November 4, 2026, at 10:00 a.m. ET (9:00 a.m. CT). Shareholders and prospective investors are encouraged to submit questions in advance to ion.warner@manitowoc.com. A live audio webcast of the call, along with the related presentation, will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website.

About The Manitowoc Company, Inc.

The Manitowoc Company, Inc. (“Manitowoc” or the “Company”) was founded in 1902, and is headquartered in Milwaukee, Wisconsin, United State

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EX-99.1

2 mtw-ex99_1.htm

EX-99.1

EX-99.1

Exhibit 99.1

The Manitowoc Company Reports First-Quarter 2026 Financial Results; Maintains Full Year 2026 Guidance

First-Quarter 2026 Highlights

• Orders of $645.7 million, up 5.8% year-over-year. Ending backlog of $939.9 million

• Net sales of $494.6 million, up 5.0% year-over-year

• Non-new machine sales of $165.7 million, up 3.2% year-over-year

• Net cash provided by operating activities of $27.4 million, free cash flows of $19.2 million

MILWAUKEE, Wis. - The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”) today reported a first-quarter net loss of $6.0 million, or $(0.17) per diluted share. First-quarter adjusted net loss(1) was $4.6 million or ($0.13) per diluted share.

Orders in the first quarter were $645.7 million, a 5.8% increase from the prior year, resulting in backlog of $939.9 million.

Net sales in the first quarter were $494.6 million, an increase of 5.0% from the prior year. Non-new machine sales were $165.7 million, an increase of 3.2% year-over-year. Adjusted EBITDA(1) was $19.6 million, a decrease of 9.7% from the prior year.

“The Manitowoc team delivered first quarter results in line with expectations. Backlog reached $940 million, our highest level in two years, reflecting strong demand for our products. Under our CRANES+50 strategy, non‑new machine sales rose 8% on a trailing twelve‑month basis to a record $696 million. In addition, customer feedback to our new products and aftermarket offerings at the ConExpo trade show was outstanding,” commented Aaron H. Ravenscroft, President and Chief Executive Officer of The Manitowoc Company.

“Backlog remains strong, orders are healthy, and customer sentiment continues to improve. In addition, our CRANES+50 strategy is driving more stable, higher‑margin recurring revenue, which sets a strong foundation for our long-term success,” concluded Ravenscroft.

Investor Conference Call

The Manitowoc Company will host a conference call for security analysts and institutional investors to discuss its first-quarter 2026 earnings results on Wednesday, May 6, 2026, at 10:00 a.m. ET (9:00 a.m. CT). Shareholders and prospective investors are encouraged to submit questions in advance to ion.warner@manitowoc.com. A live audio webcast of the call, along with the related presentation, will be available via webcast on the Manitowoc website at http://ir.manitowoc.com in the "Events & Presentations" section. A replay of the conference call will also be available at the same location on the website.

About The Manitowoc Company, Inc.

The Manitowoc Company, Inc. (“Manitowoc” or the “Company”) was founded in 1902, and is headquartered in Milwaukee, Wisconsin, United States. Manitowoc, through its wholly-owned subsidiaries, provides high quality, customer-focused lifting products and services world-wide through its Grove, Manitowoc, National Crane, Potain, Shuttlelift, and Upfits by Aspen Equipment brands and its support-focused subsidiary MGX Equipment Services. For more information, visit www.manitowoc.com.

Footnote

(1)Adjusted net loss, adjusted diluted net loss per share (“Adjusted DEPS”), EBITDA, adjusted EBITDA, adjusted operating income, adjusted return on invested capital ("Adjusted ROIC"), and free cash flows are financial measures that are not in accordance with U.S. GAAP. For definitions and a reconciliation to the most comparable U.S. GAAP numbers, please see the schedule of “Non-GAAP Financial Measures” at the end of this press release.

Forward-looking Statements

This press release includes “forward-looking statements” intended to qualify for the safe harbor from liability under the Private Securities Litigation Reform Act of 1995. Any statements contained in this press release that are not historical facts are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the current expectations of the management of the Company and are subject to uncertainty and changes in circumstances. Forward-looking statements include, without limitation, statements typically containing words such as “intends,” “expects,” “anticipates,” “targets,” “estimates,” and words of similar import. By their nature, forward-looking statements are not guarantees of future performance or results and involve risks and uncertainties because they relate to events and depend on circumstances that will occur in the future. There are a number of factors that could cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results and developments to differ materially include, among others:

• macroeconomic conditions, including inflation, elevated interest rates, and tariffs as well as prior supply chain, labor and logistics constraints, have had, and may continue to have, a negative impact on Manitowoc’s ability to convert backlog into revenu