The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Manitowoc beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue grew and GAAP earnings per share increased significantly.
Margins grew across the board.
Manitowoc booked revenue of $1.13 billion. The 11 analysts polled by S&P Capital IQ predicted net sales of $1.09 billion on the same basis. GAAP reported sales were 9.3% higher than the prior-year quarter's $1.03 billion.
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 $0.27. The 14 earnings estimates compiled by S&P Capital IQ predicted $0.24 per share. GAAP EPS of $0.25 for Q4 were 108% higher than the prior-year quarter's $0.12 per share. (The prior-year quarter included -$0.01 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 21.8%, 150 basis points better than the prior-year quarter. Operating margin was 7.3%, 170 basis points better than the prior-year quarter. Net margin was 3.1%, 160 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $927.5 million. On the bottom line, the average EPS estimate is $0.19.
Next year's average estimate for revenue is $4.22 billion. The average EPS estimate is $1.33.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 1,714 members out of 1,767 rating the stock outperform, and 53 members rating it underperform. Among 461 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 455 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 $16.86.
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Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor of Motley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.