Manitowoc (MTW) Misses Q1 EPS by 15c

Manitowoc (NYSE: MTW) reported Q1 EPS of ($0.18), $0.15 worse than the analyst estimate of ($0.03). Revenue for the quarter came in at $329.1 million versus the consensus estimate of $358.1 million.

2020 Outlook

Due to uncertainty related to the COVID-19 pandemic, the Company withdrew guidance on March 27, 2020 and is not providing a financial outlook for 2020 at this time. While Manitowoc, its suppliers and customers operations have begun to resume activity, the Company does expect a significant impact to its second quarter and full year results due to the magnitude of supply chain and business disruptions. For now, the Company anticipates weaker demand levels to continue in the near term. In response to these challenges, the Company has reduced its production levels and initiated a set of cost reduction actions and will continue to closely monitor market conditions and adjust its plans accordingly.

For earnings history and earnings-related data on Manitowoc (MTW) click here.

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