Manitowoc Reports $8.2 Million Net Income and 7.8% Revenue Growth for First Half of 2026

The Manitowoc Company, Inc. reported a net income of $8.2 million for the six months ended June 30, 2026, a significant recovery from a net loss of $4.8 million during the same period in 2025. The company’s revenue for the first half of 2026 reached $1.09 billion, marking a 7.8% increase from $1.01 billion in the prior year. This growth was driven by higher new machine sales, particularly in the Europe and Africa (EURAF) and Middle East and Asia Pacific (MEAP) segments, which collectively contributed to a $83 million increase in new machine sales compared to the previous year.

In terms of operational performance, Manitowoc's gross profit for the first half of 2026 was $218.4 million, up 15.7% from $188.8 million in 2025. The gross profit margin also improved to 20.0%, compared to 18.7% in the prior year, largely due to a $11.8 million benefit from tariff refunds under the International Emergency Economic Powers Act (IEEPA). However, the company faced challenges with increased costs related to tariffs, which partially offset these gains.

Manitowoc's strategic developments included a notable increase in orders, which rose 27.3% to $1.35 billion for the first half of 2026, compared to $1.06 billion in the same period in 2025. The backlog as of June 30, 2026, was $1.05 billion, reflecting a 32.3% increase from the end of 2025. The company also reported a cash flow from operating activities of $35.4 million, a turnaround from the $54.8 million used in the same period last year, driven by improved working capital management and tariff refunds.

Geographically, the Americas segment saw a decline in sales, with revenues decreasing by 6.6% to $301.9 million for the second quarter of 2026, while the EURAF segment experienced a 29.3% increase in sales to $197.2 million. The MEAP segment also reported a strong performance, with a 50.2% increase in sales to $95.8 million. The company’s total cash and cash equivalents at the end of June 2026 stood at $95.8 million, up from $32.9 million a year earlier, indicating improved liquidity.

Looking ahead, Manitowoc's management expressed optimism about future growth, citing strong demand across all segments and a focus on operational efficiencies. However, they acknowledged ongoing risks related to macroeconomic conditions, including inflation and trade policies, which could impact the company's ability to convert backlog into revenue. The company remains committed to monitoring these factors closely as it navigates its strategic initiatives and operational challenges.