Manitowoc sees growth as global crane demand improves
Net sales up 5.4% YoY
Manitowoc reported third-quarter net income of $5 million, compared with a $7 million loss in Q3 2024, as stronger European demand and resilient aftermarket and used machine sales offset softness in the Americas.
Orders rose 15.7% year over year to $491.4 million, bringing backlog to $666.5 million, according to a Manitowoc release today. Net sales increased 5.4% to $553.4 million, including $177.4 million in non-new machine sales, up 4.9%.
The results were driven by product mix, performance at Manitowoc’s subsidiary MGX Equipment Services and continued growth in aftermarket and used-equipment sales, which helped counter U.S. tariff pressures and weak crane demand, Manitowoc Cranes president and chief executive Aaron Ravenscroft said in the release. The European tower crane market posted its fifth straight quarter of year-over-year order growth.
Manitowoc expects to finish 2025 at the lower end of its adjusted EBITDA guidance following adjusted EBITDA that climbed 30.2% to $34.1 million, representing a 6.2% margin, according to the release. The company continues to invest in product development and expand its aftermarket business.
Founded in 1902 and headquartered in Milwaukee, Manitowoc designs, manufactures and supports a range of lifting equipment, according to the release. The company manufactures material handling equipment under the Grove, Manitowoc, National Crane, Potain, Shuttlelift, MGX Equipment Services, and Upfits by Aspen Equipment brands.
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