MTW earnings analysis
What we found in MTW's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Manitowoc delivered a materially improved Q2 2026, with revenue of $594.9 million and diluted EPS of $0.46, both ahead of consensus and significantly above Q2 2025 levels of $540 million and $0.04, respectively. The supplied filing text does not provide current gross margin, operating margin, free cash flow, segment results, or explicit numeric guidance, limiting the assessment of operating quality and forward visibility. The main incremental risk is tariff uncertainty, including a prior disclosure concerning potential tariff-calculation errors after approximately $18.0 million of Section 232 tariffs were paid over five years.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Beat and Year-Over-Year Growth
- Q2 2026 revenue was $594.9 million, up from $540 million in Q2 2025, an increase of approximately 10.2% year over year and above the $564.2 million consensus estimate.
- Strong EPS Recovery
- Diluted EPS was $0.46 versus $0.04 in Q2 2025 and the $0.11 consensus estimate, indicating a substantial year-over-year earnings recovery and a $0.35 per-share beat.
- Effective Disclosure Controls
- The company reported no material changes to disclosure controls during the period, and management concluded that controls were effective as of June 30, 2026.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Potential Tariff Liability
- The company paid approximately $18.0 million of Section 232 tariffs over the five-year period from April 29, 2021 through April 29, 2026. A prior disclosure submitted on May 1, 2026 could result in incremental tariffs, refunds, credits, interest, or legal and administrative costs.
- Trade Policy and Supply-Chain Risk
- Imported components and raw materials, including steel and steel derivatives, expose the business to changing U.S. trade policy. The filing identifies potential higher input costs, supply-chain disruption, pricing pressure, reduced demand, and volatility, with uncertainty around tariffs covering the period through April 29, 2026.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.46
What they said about what is next.
No explicit quantitative revenue or EPS guidance was provided in the supplied 10-Q text; the filing states that market-risk disclosures were unchanged from the 2025 Form 10-K.
The filing reads better than the one before it.
What came before.
- 10-Q · May 6, 2026
- Manitowoc's Q1 2026 10-Q report revealed a disappointing quarter, with revenues of $494.6 million and an EPS of -$0.13, falling short of consensus estimates. This marks a period of increased revenue compared to last…
- 10-K · February 18, 2026
- Manitowoc presents a strategic shift to a customer-centric, aftermarket-driven business via its CRANES+50 strategy and The Manitowoc Way, while reporting modest top-line growth in 2025. The company launched ServiceMax…
- 10-K · February 21, 2025
- Manitowoc’s 10-K centers strategy CRANES+50 — a push to grow non-new machine (aftermarket and rental) sales and shorten product development cycles — while reiterating long‑term aspirations including $3.0 billion in net…
- 10-Q · October 31, 2024
- Manitowoc reported relatively flat quarter with consolidated net sales of $524.8 million, up 0.7% versus $520.9 million in Q3 2023, but gross profit fell to $87.6 million (16.7% of sales) from $96.8 million (18.6%).…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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