15.03.2007

Manitowoc hikes forecasts by 10%

Manitowoc has raised its 2007 earnings estimates by 10 percent announcing that its earnings per share will now be in the region of $4.20 to $4.30 compared to its original forecasts of $3.85 to $4.00.

The reforcast is driven by a strong first quarter performance and order book for its crane division.

“Manitowoc Crane Group's broad product line and global customer base continue to generate outstanding results for our shareholders," said Terry D. Growcock, chairman and chief executive officer.

"All three of our business segments are performing well, but the operating leverage that strong current and near-term industry conditions have created for our crane segment are driving truly exceptional performance."