Manitowoc
The 10-second takeaway
For the quarter ended Sep. 30 (Q3), Manitowoc missed estimates on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue grew slightly and GAAP earnings per share dropped.
Gross margins grew, operating margins dropped, net margins dropped.
Revenue details
Manitowoc logged revenue of $955.7 million. The 11 analysts polled by S&P Capital IQ expected a top line of $1.05 billion on the same basis. GAAP reported sales were 2.2% higher than the prior-year quarter's $935.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS details
EPS came in at $0.17. The 15 earnings estimates compiled by S&P Capital IQ predicted $0.29 per share. GAAP EPS of $0.17 for Q3 were 5.6% lower than the prior-year quarter's $0.18 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
Margin details
For the quarter, gross margin was 24.7%, 80 basis points better than the prior-year quarter. Operating margin was 7.4%, 10 basis points worse than the prior-year quarter. Net margin was 2.3%, 20 basis points worse than the prior-year quarter.
Looking ahead
Next quarter's average estimate for revenue is $1.06 billion. On the bottom line, the average EPS estimate is $0.21.
Next year's average estimate for revenue is $3.98 billion. The average EPS estimate is $0.83.
Investor sentiment
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,719 members out of 1,771 rating the stock outperform, and 52 members rating it underperform. Among 419 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 416 give Manitowoc a green thumbs-up, and three 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 $16.29.
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