The Manitowoc Company, Inc. (MTW - Free Report) reported third-quarter 2017 adjusted earnings of 9 cents per share, a reversal from the prior-year quarter’s loss of 28 cents. The year-over-year improvement was mainly driven by focus on consolidating manufacturing footprint and reducing cost of organizational structure as well as positive momentum in certain end markets such as the U.S. energy and commercial construction markets. Earnings also beat the Zacks Consensus Estimate of a loss of 4 cents per share.
Including special items, the company posted earnings of 7 cents in the reported quarter. It had posted a loss of $1.01 per share in the year-ago quarter.
Manitowoc witnessed a 14% year-over-year improvement in sales to $399.4 million in the reported quarter. Higher demand, primarily in the U.S. markets, partly offset by lower demand in the Asia-Pacific market, drove revenues in the quarter. Approximately 40% of unit revenue in the third-quarter stemmed from new products introduced since becoming a stand-alone crane company. Additionally, revenues beat the Zacks Consensus Estimate of $381 million.
Manitowoc Company, Inc. Price, Consensus and EPS Surprise
Year to date, Manitowoc has outperformed the industry with respect to price performance. The stock gained around 69.9%, while the industry recorded growth of 47.0%.
Zacks Rank & Stocks to Consider
Currently, Manitowoc carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the sector include Caterpillar Inc. (CAT - Free Report) , Terex Corporation (TEX - Free Report) and H&E Equipment Services, Inc. (HEES - Free Report) . All three stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Caterpillar has expected long-term growth rate of 10.33%.
Terex has expected long-term growth rate of 11.25%.
H&E Equipment Services has expected long-term growth rate of 15.55%.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
The Manitowoc Company, Inc. (MTW - Free Report) reported third-quarter 2017 adjusted earnings of 9 cents per share, a reversal from the prior-year quarter’s loss of 28 cents. The year-over-year improvement was mainly driven by focus on consolidating manufacturing footprint and reducing cost of organizational structure as well as positive momentum in certain end markets such as the U.S. energy and commercial construction markets. Earnings also beat the Zacks Consensus Estimate of a loss of 4 cents per share.
Including special items, the company posted earnings of 7 cents in the reported quarter. It had posted a loss of $1.01 per share in the year-ago quarter.
Manitowoc witnessed a 14% year-over-year improvement in sales to $399.4 million in the reported quarter. Higher demand, primarily in the U.S. markets, partly offset by lower demand in the Asia-Pacific market, drove revenues in the quarter. Approximately 40% of unit revenue in the third-quarter stemmed from new products introduced since becoming a stand-alone crane company. Additionally, revenues beat the Zacks Consensus Estimate of $381 million.
Manitowoc Company, Inc. Price, Consensus and EPS Surprise
Year to date, Manitowoc has outperformed the industry with respect to price performance. The stock gained around 69.9%, while the industry recorded growth of 47.0%.
Zacks Rank & Stocks to Consider
Currently, Manitowoc carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the sector include Caterpillar Inc. (CAT - Free Report) , Terex Corporation (TEX - Free Report) and H&E Equipment Services, Inc. (HEES - Free Report) . All three stocks flaunt a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Caterpillar has expected long-term growth rate of 10.33%.
Terex has expected long-term growth rate of 11.25%.
H&E Equipment Services has expected long-term growth rate of 15.55%.
Zacks' Hidden Trades
While we share many recommendations and ideas with the public, certain moves are hidden from everyone but selected members of our portfolio services. Would you like to peek behind the curtain today and view them?
Starting now, for the next month, I invite you to follow all Zacks' private buys and sells in real time from value to momentum...from stocks under $10 to ETF to option movers...from insider trades to companies that are about to report positive earnings surprises (we've called them with 80%+ accuracy). You can even look inside portfolios so exclusive that they are normally closed to new investors.
Click here for Zacks' secret trade>>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Get the latest research report on MTW - FREE
Get the latest research report on CAT - FREE
Get the latest research report on TEX - FREE
Get the latest research report on HEES - FREE