The 2020 Mid-Year Economic Update_long

Manitowoc First-Quarter Sales Down 5%

Profit reported at a loss of $8.8 million.

The Manitowoc Company Inc. (NYSE: MTW), Manitowoc, WI, reported sales for the first quarter of $850 million,  a decrease of 5 percent compared to the same period a year earlier. Profit reported was a loss of $8.8 million, compared to a year-ago profit of $10.4 million.

First-quarter sales in the Crane segment were $466.7 million, down 14.2 percent from the first quarter of 2013. The decline resulted from the lower level of backlog at the start of the year coupled with some customer-related project delays.Operating earnings were $22.6 million, down 35.2 percent from the same period last year.

First-quarter sales in the Foodservice segment were $383.3 million, up 9.3 percent from the first quarter of 2013. The increase was driven by sales of new products and balanced growth across all geographies. Foodservice operating earnings were $57.9 million, up 17.9 percent from the prior-year period.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events


articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.