Q4 2025 Manitowoc Company Inc Earnings Call Transcript
Key Points
- Manitowoc Co Inc (MTW) achieved a record in non-new machine sales, growing 10% to $690 million.
- The company launched 11 new cranes in 2025, including the largest topless tower crane and the largest luffing tower crane ever produced by the company.
- Manitowoc Co Inc (MTW) expanded its aftermarket footprint by adding territory coverage in several U.S. states and key provinces in France.
- The company achieved a recordable injury rate (RIR) of 0.94, reducing recordable injuries significantly over the past decade.
- Orders for the fourth quarter were up 56% year-over-year, with a backlog increase of 22% from the previous year.
- The tariff situation remains fluid, creating headwinds and impacting the cost of new cranes.
- Rental rates have remained flat, which is a concern as the cost of new cranes is increasing.
- The Middle East market is experiencing tightening cash flow, causing nervousness despite ongoing projects.
- The Asia Pacific market, while improving, still faces challenges such as a weak currency in South Korea.
- The company faced a $39 million unfavorable impact from tariffs for the year, affecting overall financial performance.
Good morning, and welcome to the Manitowoc Company fourth-quarter 2025 earnings conference call. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Ion Warner, Senior Vice President, Marketing and Investor Relations. Please go ahead.
Good morning, everyone, and welcome to our earnings call to review the company's fourth quarter and full-year 2025 financial performance and business update as outlined in last evening's press release. Joining me this morning with prepared remarks are Aaron Ravenscroft, our President and Chief Executive Officer; and Brian Regan, our Executive Vice President and Chief Financial Officer. Earlier this morning, we posted our slide presentation to the Investor Relations section on our website, www.manitowoc.com, which you can use to follow along with our prepared remarks.
Please turn to slide 2.
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