Manitowoc Reports $0.2 Million Net Income for Nine Months Ended September 30, 2025

The Manitowoc Company, Inc. reported a net income of $0.2 million for the nine months ended September 30, 2025, a significant improvement from a net loss of $0.9 million during the same period in 2024. The company’s revenue for the nine months decreased slightly by 1.2% to $1.563 billion, down from $1.582 billion in the prior year. The decline in revenue was attributed to lower new machine sales in the mobile product line, particularly in the Europe and Africa (EURAF) segment, which saw a decrease of $40 million due to reduced crane shipments. However, the Americas segment experienced a 2.5% increase in revenue, driven by higher non-new machine sales.

In terms of operational metrics, Manitowoc's gross profit for the nine months increased by 4.1% to $291.4 million, with a gross profit margin improvement to 18.6%, up from 17.7% in the previous year. This increase was primarily due to a favorable product mix, although it was partially offset by lower manufacturing volume in the Americas segment. The company’s engineering, selling, and administrative expenses rose by 6.3% to $253.7 million, reflecting higher costs associated with new product development and the triennial bauma trade show.

Manitowoc's cash flow from operating activities showed a net outflow of $68.9 million, an increase from $63.2 million in the prior year, largely due to a $43.2 million payment related to a legal settlement with the Environmental Protection Agency (EPA). The company also reported a net cash outflow from investing activities of $37.1 million, which included a $12.9 million acquisition of assets from Ring Power Corporation. In contrast, financing activities provided $95.9 million, an increase from $81 million in the previous year, primarily due to additional borrowings under the asset-based revolving credit facility.

The company’s total backlog as of September 30, 2025, was $666.5 million, reflecting a 2.5% increase from the end of 2024 but a 10.2% decrease from the previous year. Orders for the third quarter increased by 15.7% to $491.4 million, driven by higher demand in the Americas and EURAF segments. Looking ahead, Manitowoc anticipates continued challenges from macroeconomic conditions, including inflation and supply chain disruptions, but remains focused on leveraging its product offerings and operational efficiencies to drive future growth. The company believes its liquidity position is sufficient to meet operational needs over the next twelve months.