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Manitowoc +4% after easy Q4 earnings, revenue beats

Feb. 07, 2019 5:52 PM ETThe Manitowoc Company, Inc. (MTW) StockMTWBy: Carl Surran, SA News Editor1 Comment
  • Manitowoc (NYSE:MTW+4.3% after-hours as it easily beats expectations for Q4 earnings and revenues.
  • MTW says Q4 orders of $485.7M fell 22% Y/Y but year-end 2018 backlog jumped 11% Y/Y to $670.6M from $606.6M at the end of 2017.
  • Q4 adjusted EBITDA totaled $31.1M, the seventh consecutive quarter of Y/Y adjusted EBITDA percentage improvement.
  • "For the year, we delivered a double-digit increase in sales, a 157-basis point improvement in adjusted EBITDA margin, while increasing our cash by nearly 20% in a challenging market," the company says.
  • For FY 2019, MTW forecasts revenues of $1.85B-$1.95B, in line with $1.93B analyst consensus estimate, and adjusted EBITDA of $125M-$145M.

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