The Manitowoc Company Inc. (NYSE: MTW), Manitowoc, WI, reported sales for the second quarter of $1.1 billion, an increase of 5 percent compared to the same period a year ago, primarily driven by an increase in crane segment sales. Profit increased 27.2 percent to $57.6 million.
Crane segment sales were $656.9 million, up 7.6 percent from the second quarter of 2012, driven primarily by continued growth in the Americas region related to the increased activity with crawler cranes and large rough-terrain cranes, as well as solid results from Manitowoc Crane Care. Operating earnings were $65 million, up 25 percent compared to the same period last year.
Second-quarter sales in the foodservice segment were $389.7 million, up 0.8 percent from the second quarter of 2012, driven by sales of new products and growth in the Americas and EMEA regions. Operating earnings were $63 million, down 4.7 percent from the second quarter of 2012.
For the first six months, sales for Manitowoc were $1.9 billion, an increase of 5.2 percent compared to the same period a year ago. Profit increased 51.1 percent to $68 million.