Manitowoc Co. Inc. Files Q3 2024 10-Q
Ticker: MTW · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 61986
Sentiment: neutral
Topics: 10-Q, financials, debt, credit-facility
Related Tickers: MTW
TL;DR
MTW Q3 10-Q filed. Financials and segment data updated. Check for debt and credit facility details.
AI Summary
Manitowoc Co Inc. reported its third-quarter results for the period ending September 30, 2024. The company's filing indicates financial activities and segment performance, including details on "NonNewMachineSales" and "MiddleEastAndAsiaPacificSegment" operations. Specific financial figures such as "SeniorNotesDue2026" and "ABLRevolvingCreditFacility" are mentioned, alongside changes in "RetainedEarnings" and "AccumulatedTranslationAdjustment" from previous periods.
Why It Matters
This 10-Q filing provides investors with a detailed look at Manitowoc's financial health and operational performance for the third quarter of 2024, influencing investment decisions.
Risk Assessment
Risk Level: medium — The filing contains detailed financial information, including debt and credit facilities, which are key indicators of financial risk for a company.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the end of the fiscal quarter being reported.)
- 2024-10-31 — Filing Date (Shows when the report was officially submitted to the SEC.)
- 2023-06-30 — Previous Period End Date (Provides a comparative point for financial metrics like Retained Earnings.)
- 2022-12-31 — Prior Year End Date (Used for year-over-year comparisons of financial statements.)
- 2023-01-01 — Start of Prior Year Period (Marks the beginning of the comparative period for segment and RSU data.)
Key Players & Entities
- MANITOWOC CO INC (company) — Filer
- 20240930 (date) — Period of Report
- 20241031 (date) — Filed as of Date
- MTW (company) — Ticker Symbol
- SeniorNotesDue2026 (dollar_amount) — Debt Instrument
- ABLRevolvingCreditFacility (dollar_amount) — Credit Facility
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the quarter ended September 30, 2024.
When was this 10-Q filing submitted to the SEC?
This 10-Q filing was submitted to the SEC on October 31, 2024.
What specific debt instrument is mentioned in the filing?
The filing mentions "SeniorNotesDue2026".
What credit facility is referenced in the document?
The filing references the "ABLRevolvingCreditFacility".
Which business segment's performance is highlighted for the period January 1, 2023, to September 30, 2023?
The "MiddleEastAndAsiaPacificSegment" is highlighted for the period January 1, 2023, to September 30, 2023.
Filing Stats: 4,532 words · 18 min read · ~15 pages · Grade level 7 · Accepted 2024-10-31 16:11:06
Filing Documents
- mtw-20240930.htm (10-Q) — 2447KB
- mtw-ex31.htm (EX-31) — 25KB
- mtw-ex32_1.htm (EX-32.1) — 7KB
- mtw-ex32_2.htm (EX-32.2) — 7KB
- img165356707_0.jpg (GRAPHIC) — 11KB
- 0000950170-24-119534.txt ( ) — 11403KB
- mtw-20240930.xsd (EX-101.SCH) — 1381KB
- mtw-20240930_htm.xml (XML) — 2579KB
FINANCI AL INFORMATION
PART I. FINANCI AL INFORMATION
Financ ial Statements
Item 1. Financ ial Statements THE MANITOWOC COMPANY, INC. Condensed Consolidated S tatements of Operations For the three and nine months ended September 30, 2024 and 2023 (Unaudited) ($ in millions, except per share and share amounts) Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 Net sales $ 524.8 $ 520.9 $ 1,582.0 $ 1,632.0 Cost of sales 437.2 424.1 1,302.2 1,305.9 Gross profit 87.6 96.8 279.8 326.1 Operating costs and expenses: Engineering, selling and administrative expenses 78.9 77.4 238.6 240.1 Amortization of intangible assets 0.7 0.7 2.2 2.4 Restructuring expense 0.5 0.7 3.4 1.0 Total operating costs and expenses 80.1 78.8 244.2 243.5 Operating income 7.5 18.0 35.6 82.6 Other income (expense): Interest expense ( 9.6 ) ( 8.4 ) ( 28.4 ) ( 25.5 ) Amortization of deferred financing fees ( 0.3 ) ( 0.3 ) ( 1.0 ) ( 1.0 ) Other income (expense) - net ( 4.9 ) 1.1 ( 3.9 ) ( 10.0 ) Total other expense ( 14.8 ) ( 7.6 ) ( 33.3 ) ( 36.5 ) Income (loss) before income taxes ( 7.3 ) 10.4 2.3 46.1 Provision (benefit) for income taxes ( 0.3 ) — 3.2 ( 1.0 ) Net income (loss) $ ( 7.0 ) $ 10.4 $ ( 0.9 ) $ 47.1 Per Share Data and Share Amounts: Basic net income (loss) per common share $ ( 0.20 ) $ 0.30 $ ( 0.03 ) $ 1.34 Diluted net income (loss) per common share $ ( 0.20 ) $ 0.29 $ ( 0.03 ) $ 1.31 Weighted average shares outstanding - basic 35,123,015 35,080,037 35,251,847 35,095,211 Weighted average shares outstanding - diluted 35,123,015 35,787,704 35,251,847 35,836,672 The accompanying notes are an integral part to these Condensed Consolidated Financial Statements. 2 THE MANITOWOC COMPANY, INC. Condensed Consolidated Statement s of Comprehe