Manitowoc Co Q1 2024 Adj EPS $0.14 Misses $0.18 Estimate, Sales $495.100M Beat $494.898M Estimate
Portfolio Pulse from Benzinga Newsdesk
Manitowoc Co (NYSE:MTW) reported Q1 2024 adjusted EPS of $0.14, missing the $0.18 estimate, and sales of $495.1M, slightly above the $494.898M estimate. This represents a 69.57% decrease in earnings and a 2.6% decrease in sales from the same period last year.

May 07, 2024 | 9:28 pm
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NEGATIVE IMPACT
Manitowoc Co reported a significant decrease in earnings and a slight decrease in sales for Q1 2024, missing EPS estimates but beating sales forecasts.
The miss on the EPS estimate and the significant year-over-year decrease in earnings are likely to negatively impact investor sentiment towards MTW in the short term. Although the slight beat on sales provides a positive note, the overall decrease in sales compared to the previous year and the earnings miss are more likely to weigh on the stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100