The Manitowoc Company Sales Up 5% in 2Q

The increase was primarily driven by strong crane segment sales.

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. 

About the Author
Recommended Reading
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.

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to MDM.com
  • 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

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

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

1

article
left

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 mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

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

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.