What: Shares of Manitowoc Company Inc. (NYSE:MTW) jumped as much as 14.7% after the company announced earnings.

So what: Fourth-quarter revenue declined 9.9% to $934.8 million but earnings grew 30% to $43.8 million, or $0.32 per share. Adjusted for one-time items, the company earned $59.7 million, or $0.43 per share, crushing the $0.21 per share that analysts expected.  

Now what: The foodservice business is performing well ahead of its spinoff, growing in the mid-single digits. Management said that by the end of the first quarter it hoped to have the spinoff completed, which could unlock significant value but would also leave the crane business standing alone.

Crane sales dropped 18.1% in the quarter, and that's what has me wary of the pop today. Low energy prices will keep pressure on the business for the foreseeable future, and even more so as a stand-alone company. Investors will want to watch how the crane business progresses in 2016 because management needs to keep costs low while sales struggle. If it can do that, this could be a great value stock if energy demand recovers.