The Manitowoc Company Reports Third-Quarter 2023 Financial Results; Updates Full-Year 2023 Guidance; Announces $35 million Share Repurchase Program
The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”) today reported third-quarter net income of $10.4 million, or $0.29 per diluted share.
- The Manitowoc Company, Inc. (NYSE: MTW) (the “Company” or “Manitowoc”) today reported third-quarter net income of $10.4 million, or $0.29 per diluted share.
- Net sales increased 14.6% year-over-year to $520.9 million and were favorably impacted by $14.5 million from changes in foreign currency exchange rates.
- Adjusted EBITDA(1) was $33.3 million, an increase of $9.3 million or 38.8% from the prior year.
- Backlog increased $3.5 million to $1,028.1 million as of September 30, 2023 from $1,024.6 million as of June 30, 2023.