Given the cyclical nature of Manitowoc Company's (NYSE:MTW) business, it isn't surprising to see its revenues take a hit in a down cycle as it has this year. But the steep fall in the company's profits has baffled investors: its net income plunged a staggering 82% during the nine months through September. What's more alarming is that peers Caterpillar (NYSE:CAT) and Terex (NYSE:TEX) haven't suffered as much despite similar business conditions, with Caterpillar, in particular, having significant exposure to the struggling mining and oil and gas industries unlike Manitowoc.
Unfortunately, some of the things that Manitowoc's interim CEO, Kenneth W. Krueger, said on the company's recent earnings call indicate that its struggles are far from over. In fact, present business conditions now raise a big question about Manitowoc's plans to separate its cranes and foodservices businesses by early next year. Find out what it is in the slideshow below to get a sense of where the company is headed.