The 10-second takeaway
For the quarter ended June 30 (Q2), Manitowoc missed estimates on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue increased and GAAP earnings per share increased significantly.
Margins increased across the board.
Manitowoc logged revenue of $1.01 billion. The 10 analysts polled by S&P Capital IQ anticipated a top line of $1.04 billion on the same basis. GAAP reported sales were 5.9% higher than the prior-year quarter's $949.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.32. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.26 per share. GAAP EPS of $0.33 for Q2 were much higher than the prior-year quarter's $0.02 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 24.8%, 120 basis points better than the prior-year quarter. Operating margin was 8.8%, 150 basis points better than the prior-year quarter. Net margin was 4.2%, 390 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $1.04 billion. On the bottom line, the average EPS estimate is $0.28.
Next year's average estimate for revenue is $4.04 billion. The average EPS estimate is $0.79.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,727 members out of 1,778 rating the stock outperform, and 51 members rating it underperform. Among 396 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 390 give Manitowoc a green thumbs-up, and six give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Manitowoc is outperform, with an average price target of $16.73.
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