Baird's analyst, Mircea Dobre, has adjusted the price target for Manitowoc (MTW, Financial), reducing it from $12 to $11. The Neutral rating on the shares remains unchanged. The revision follows an evaluation of the company's first-quarter performance, which indicated strong order volumes. However, ongoing concerns about tariff impacts have led Baird to maintain its cautious stance.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 5 analysts, the average target price for Manitowoc Co Inc (MTW, Financial) is $10.65 with a high estimate of $16.00 and a low estimate of $8.25. The average target implies an upside of 24.42% from the current price of $8.56. More detailed estimate data can be found on the Manitowoc Co Inc (MTW) Forecast page.
Based on the consensus recommendation from 5 brokerage firms, Manitowoc Co Inc's (MTW, Financial) average brokerage recommendation is currently 3.0, indicating "Hold" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Manitowoc Co Inc (MTW, Financial) in one year is $13.00, suggesting a upside of 51.87% from the current price of $8.56. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Manitowoc Co Inc (MTW) Summary page.
MTW Key Business Developments
Release Date: May 07, 2025
- Revenue: $471 million for the first quarter.
- Adjusted EBITDA: $22 million, with an adjusted EBITDA margin of 4.6%.
- Orders: $610 million, a 10% increase year-over-year.
- Backlog: $798 million as of March 31.
- Non-New Machine Sales: $161 million, up 11% year-over-year.
- SG&A Expenses: $83 million, representing 18% of sales.
- Net Working Capital: $489 million, down $20 million year-over-year.
- Operating Cash Flow: $13 million provided during the quarter.
- Capital Expenditures: $11 million, including $4 million for the rental fleet.
- Net Leverage Ratio: 3 times, with total liquidity of $307 million.
- Tariff Impact: Estimated $60 million impact for the year, with plans to mitigate 80%-90% of costs.
- Full Year Guidance: Net sales of $2.175 billion to $2.275 billion and adjusted EBITDA of $120 million to $145 million.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
- Manitowoc Co Inc (MTW, Financial) exceeded expectations with $471 million in revenue and $22 million in adjusted EBITDA for the first quarter of 2025.
- Orders were strong at $610 million, with a backlog just short of $800 million, indicating robust demand.
- Non-new machine sales increased by 11% year-over-year, reaching $161 million, showcasing growth in aftermarket sales.
- The company successfully integrated AI into its improvement processes, saving 2,000 man-hours and avoiding $400,000 in costs.
- European tower crane orders were up nearly 70% year-over-year, marking the third consecutive quarter of growth, signaling a market recovery.
Negative Points
- Net sales decreased by 5% year-over-year, indicating some challenges in maintaining sales momentum.
- Adjusted EBITDA margin decreased to 4.6%, a 31% decline year-over-year, reflecting pressure on profitability.
- The company faces $60 million in incremental costs due to tariffs, with mitigation plans covering only 80% to 90% of these costs.
- There is uncertainty regarding the impact of tariffs on demand and pricing, making it difficult to predict future financial performance.
- The Middle East saw a small year-over-year decline in first-quarter orders, indicating potential regional challenges.
