- 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.