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Last $16.62 USD
Change Today -0.46 / -2.69%
Volume 2.5M
MTW On Other Exchanges
Symbol
Exchange
New York
Berlin
As of 8:04 PM 09/1/15 All times are local (Market data is delayed by at least 15 minutes).

manitowoc company inc (MTW) Key Developments

the Manitowoc Company, Inc. Appoints Hubertus M. Muehlhaeuser as President and Chief Executive Officer of its Foodservice Segment, Effective August 3, 2015

On July 28, 2015, the Board of Directors of The Manitowoc Company, Inc. appointed Hubertus M. Muehlhaeuser as President and Chief Executive Officer of the company's Foodservice segment, effective August 3, 2015. Robert M. Hund, the current President of the Foodservice segment, will continue with the Foodservice segment in a different capacity, and will remain an executive officer of the company. Mr. Muehlhaeuser, age 45, has served as Chairman and Managing Partner of Karl-H. Muehlhaeuser GmbH & Co KG since 2013.

The Manitowoc Company, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Full Year of 2015

The Manitowoc Company, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $885.4 million compared to $1,012.8 million a year ago. Operating earnings were $60.4 million compared to $95.4 million a year ago. Earnings from continuing operations before taxes on income were $37.9 million compared to $66.1 million a year ago. Earnings from continuing operations were $23.2 million compared to $46.9 million a year ago. Net earnings were $23.3 million compared to $46.6 million a year ago. Net earnings attributable to the company were $23.3 million or $0.17 per diluted share compared to $46.6 million or $0.34 per diluted share a year ago. Amounts attributable to the company’s common shareholders: earnings from continuing operations were $23.2 million or $0.17 per diluted share compared to $46.9 million or $0.34 per diluted share a year ago. Net cash provided by operating activities was $55.5 million compared to $72.2 million a year ago. Capital expenditures were $17.5 million compared to $18.3 million a year ago. For the six months, the company reported net sales of $1,637.5 million compared to $1,862.8 million a year ago. Operating earnings were $73.1 million compared to $149.0 million a year ago. Earnings from continuing operations before taxes on income were $28.4 million compared to $74.7 million a year ago. Earnings from continuing operations were $14.9 million compared to $52.9 million a year ago. Net earnings were $14.9 million compared to $41.7 million a year ago. Net earnings attributable to the company were $14.9 million or $0.11 per diluted share compared to $37.8 million or $0.35 per diluted share a year ago. Amounts attributable to the company’s common shareholders: earnings from continuing operations were $14.9 million or $0.11 per basic and diluted share compared to $48.6 million or $0.28 per basic and diluted share a year ago. Net cash used for operating activities was $80.2 million compared to $199.2 million a year ago. Capital expenditures were $29.2 million compared to $35.0 million a year ago. The company revised earnings guidance for the full year of 2015. For the full-year 2015, the company is revising its previous guidance and now expects capital expenditures of approximately $70 million, depreciation & amortization of approximately $110 million, interest expense of approximately $80 million and effective tax rate of approximately 30%.

Alimak Group Co-Develops Tower Crane Elevators Together with the Manitowoc Company, Inc

Alimak Group has signed an agreement with Manitowoc Company Inc. regarding joint development and production of specialized internal tower crane elevators. The agreement covers co-development and distribution of tower crane elevators. Alimak will supply its standardized external operator elevators adapted to fit the Manitowoc range of cranes that will be offered in both Alimak's and Manitowo's respective global sales and distribution networks. In addition, Alimak has signed an exclusive distribution agreement with Manitowoc regarding an internal tower crane elevator, attached within the crane´s mast, which will be exclusively sold and distributed by Manitowoc.

Manitowoc Launches New Potain MDT CCS City Tower Crane Range

Manitowoc unveiled a new range of Potain MDT City tower cranes featuring the Crane Control System (CCS), which will be available for delivery in late 2015.

The Manitowoc Company, Inc. to Report Q2, 2015 Results on Jul 29, 2015

The Manitowoc Company, Inc. announced that they will report Q2, 2015 results on Jul 29, 2015

 

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