Manitowoc (MTW) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Wed, May 6, 2026 astatine 10:06 AM CDT 17 min read

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DATE

Wednesday, May 6, 2026 astatine 10 a.m. ET

CALL PARTICIPANTS

• President & Chief Executive Officer — Aaron H. Ravenscroft

• Executive Vice President & Chief Financial Officer — Brian P. Regan

• Senior Vice President, Marketing & Investor Relations — Ion M. Warner

Full Conference Call Transcript

Aaron H. Ravenscroft: Thank you, Ion, and bully morning, everyone. I would similar to instrumentality a infinitesimal to convey The Manitowoc Company, Inc. squad for their unwavering committedness to serving our stakeholders. Over the past 12 months, the squad has continued to execute our Cranes+50 strategy, enabling america to upwind the downturn successful the crane rhythm and beryllium amended positioned for the adjacent limb up. Although determination is simply a large woody of uncertainty successful the Middle East, Ukraine, and adjacent successful the United States with respect to tariffs, the wide marketplace has been resilient. Our orders during the archetypal 4th were astir $650 million, and our backlog ended the play astatine $940 million. In addition, rates successful April remained strong.

Please crook to Slide three. Starting with the Manitowoc Way, I precocious challenged our enactment to destruct hammers, akin to what we did with ladders a fewer years ago. We are simply excessively reliant connected hammers. They make prime problems and are a large root of information risk. In our Katy Grove works alone, we had implicit 1,200 hammers successful use. Thus far, we person eliminated 264. As you tin spot connected this slide, the enactment has rapidly developed a assortment of improvements ranging from elemental to ingenious solutions. Eliminating hammers not lone helps make a safer workplace but besides supports the Manitowoc Way civilization arsenic we consistently thrust for continuous betterment and innovation.

Ultimately, the extremity is to person zero injuries. In presumption of caller merchandise development, successful March we unveiled an 80-ton roar motortruck and an 800-ton eight-axle all-terrain crane astatine CONEXPO. Both received outstanding feedback from customers and crane operators. The eight-axle crane was a existent caput turner astatine the show, and I truly look guardant to getting the archetypal units into the tract successful 2027. Please determination to Slide four. Turning to our Cranes+50 strategy, our non-new instrumentality income for the 4th grew 3% twelvemonth implicit year. On a trailing twelve-month basis, we improved 8% to $696 million.

Growing this portion of our business, which is little impacted by economical cycles and produces higher returns, is simply a cardinal portion of our strategical program and is moving well. As I preach to our teams, for america to continuously turn our non-new instrumentality sales, we person to absorption connected 4 large buckets. Number one, we are adding much work locations. For example, successful Australia we doubled the capableness of our Sydney facility, and we precocious approved caller work centers successful Brisbane and Melbourne. Brisbane volition big the 2032 Olympics, and we are preparing for a batch of enactment successful the region. Number two, we are adding much aftermarket income representatives and tract work techs.