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The Zacks Consensus Estimate for MTW’s first-quarter revenues is pegged at $466.1 million, indicating growth of 1.6% from the year-ago quarter’s reported figure. The consensus mark for earnings per share is pegged at 5 cents, suggesting an improvement of 66.6% from the prior-year quarter.
Q4 Results
In the last reported quarter, Manitowoc’s earnings and revenues increased year over year. Both the bottom and top-line figures beat the respective Zacks Consensus Estimate. The company delivered a trailing four quarters average earnings surprise of 38.8%.
The Manitowoc Company, Inc. Price and EPS Surprise
In North America, demand from residential and non-residential construction is likely to have driven demand for Manitowoc’s equipment in the first quarter. Demand in the Middle East is expected to have been robust in the March-end quarter.
Moreover, the pressing need to replace the aging crane fleet is expected to have supported demand for Manitowoc’s equipment. The company's focus on innovation is also likely to aid the quarter’s result by providing differentiated products that add value to customers.
However, MTW’s performance in the to-be-reported quarter is likely to have been impacted by higher steel, logistics, and transportation costs (both ocean and land freight). Even though the company has raised prices to mitigate the impact of cost inflation, it might not have been adequate to counter the impact of high costs.
The results are also likely to be affected by supply chain shortages. Skilled labor constraints also remain headwinds. The semiconductor chip shortage has created significant issues throughout its supply base, which is likely to have weighed on the first-quarter’s margin.
What the Zacks Model Indicates
Our proven model doesn’t conclusively predict an earnings beat for Manitowoc this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that’s not the case here.
Earnings ESP: Manitowoc has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Shares of the company have gained 16.2% in the past year compared with the industry’s 2.1% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some Industrial Products stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases.
Ingersoll Rand Inc. (IR - Free Report) is scheduled to report its first-quarter 2023 results on May 3. It has an Earnings ESP of +2.32% and currently sports a Zacks Rank #1. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at 52 cents per share. This suggests year-over-year growth of 6.1%.
The Zacks Consensus Estimate for IR’s quarterly revenues is pegged at $1.5 billion, indicating year-over-year growth of 10.7%. IR has a trailing four-quarter earnings surprise of 8.5%, on average.
A. O. Smith Corporation (AOS - Free Report) is set to release its first-quarter 2023 results on Apr 27. AOS currently has an Earnings ESP of +5.78% and a Zacks Rank #2. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at 77 cents per share, suggesting no year-over-year change.
The Zacks Consensus Estimate for AOS’ quarterly revenues is pegged at $913 million, indicating a year-over-year decline of 6.5%. The company has a trailing four-quarter earnings surprise of 3.2%, on average.
Illinois Tool Works (ITW - Free Report) is scheduled to report its first-quarter 2023 results on May 2. The company currently has an Earnings ESP of +1.49% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at $2.19 per share. This suggests year-over-year growth of 3.8%.
The Zacks Consensus Estimate for quarterly revenues is pegged at $4 billion, indicating growth of 0.6% from the prior-year quarter’s reported level. ITW has a trailing four-quarter earnings surprise of 0.9%, on average.
Image: Bigstock
Manitowoc (MTW) to Report Q1 Earnings: What's in Store?
The Manitowoc Company Inc. (MTW - Free Report) is scheduled to report its first-quarter 2023 results on May 2.
Q1 Estimates
The Zacks Consensus Estimate for MTW’s first-quarter revenues is pegged at $466.1 million, indicating growth of 1.6% from the year-ago quarter’s reported figure. The consensus mark for earnings per share is pegged at 5 cents, suggesting an improvement of 66.6% from the prior-year quarter.
Q4 Results
In the last reported quarter, Manitowoc’s earnings and revenues increased year over year. Both the bottom and top-line figures beat the respective Zacks Consensus Estimate. The company delivered a trailing four quarters average earnings surprise of 38.8%.
The Manitowoc Company, Inc. Price and EPS Surprise
The Manitowoc Company, Inc. price-eps-surprise | The Manitowoc Company, Inc. Quote
Key Factors
In North America, demand from residential and non-residential construction is likely to have driven demand for Manitowoc’s equipment in the first quarter. Demand in the Middle East is expected to have been robust in the March-end quarter.
Moreover, the pressing need to replace the aging crane fleet is expected to have supported demand for Manitowoc’s equipment. The company's focus on innovation is also likely to aid the quarter’s result by providing differentiated products that add value to customers.
However, MTW’s performance in the to-be-reported quarter is likely to have been impacted by higher steel, logistics, and transportation costs (both ocean and land freight). Even though the company has raised prices to mitigate the impact of cost inflation, it might not have been adequate to counter the impact of high costs.
The results are also likely to be affected by supply chain shortages. Skilled labor constraints also remain headwinds. The semiconductor chip shortage has created significant issues throughout its supply base, which is likely to have weighed on the first-quarter’s margin.
What the Zacks Model Indicates
Our proven model doesn’t conclusively predict an earnings beat for Manitowoc this season. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat. However, that’s not the case here.
Earnings ESP: Manitowoc has an Earnings ESP of 0.00%. You can uncover the best stocks before they’re reported with our Earnings ESP Filter.
Zacks Rank: The company currently carries a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Price Performance
Shares of the company have gained 16.2% in the past year compared with the industry’s 2.1% growth.
Image Source: Zacks Investment Research
Stocks to Consider
Here are some Industrial Products stocks worth considering, as our model shows that these have the right combination of elements to beat on earnings in their upcoming releases.
Ingersoll Rand Inc. (IR - Free Report) is scheduled to report its first-quarter 2023 results on May 3. It has an Earnings ESP of +2.32% and currently sports a Zacks Rank #1. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at 52 cents per share. This suggests year-over-year growth of 6.1%.
The Zacks Consensus Estimate for IR’s quarterly revenues is pegged at $1.5 billion, indicating year-over-year growth of 10.7%. IR has a trailing four-quarter earnings surprise of 8.5%, on average.
A. O. Smith Corporation (AOS - Free Report) is set to release its first-quarter 2023 results on Apr 27. AOS currently has an Earnings ESP of +5.78% and a Zacks Rank #2. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at 77 cents per share, suggesting no year-over-year change.
The Zacks Consensus Estimate for AOS’ quarterly revenues is pegged at $913 million, indicating a year-over-year decline of 6.5%. The company has a trailing four-quarter earnings surprise of 3.2%, on average.
Illinois Tool Works (ITW - Free Report) is scheduled to report its first-quarter 2023 results on May 2. The company currently has an Earnings ESP of +1.49% and a Zacks Rank #3. The Zacks Consensus Estimate for first-quarter 2023 earnings is pegged at $2.19 per share. This suggests year-over-year growth of 3.8%.
The Zacks Consensus Estimate for quarterly revenues is pegged at $4 billion, indicating growth of 0.6% from the prior-year quarter’s reported level. ITW has a trailing four-quarter earnings surprise of 0.9%, on average.
Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.