07.08.2026

Strong first half at Manitowoc

Manitowoc Crane - Grove, Potain, National Crane and Manitowoc - has reported a strong improvement in first half sales and profits.

Year To Date
Total revenues for the six months to the end of June increased eight percent over the same period last year to $1.09 billion. With growth in both new equipment sales and services revenue.

Order Intake for the six months was almost 28 percent higher than last year at $1.35 billion, leaving the backlog/Order book at the end of June at $1.05 billion, up 44 percent on this time last year.

Pre-tax profit for the six months was $12.1 million compared to last year's loss of $7.5 million. This due to higher sales volumes, improved product mix, and tight control on costs.

Second Quarter

Revenues for the three months to the end of June increased 10.3 percent to $594.9 million, while non-new equipment sales were 6.6 percent higher at $172.2 million.
Order intake was the star of the show, leaping 56.1 percent to $708.7 million, as was pre-tax profit, which came in at $7.2 million compared to a $200,000 loss in the same period last year.

Full year Outlook
On the basis of the strong first half and order intake in the second quarter, the company has increased its full year revenue forecasts to a range of between $2.3 and $2.4 billion, which equates to a three to seven percent increase over 2025, while tariff refunds should boost the bottom line by around $16 million.

Chief executive Aaron Ravenscroft said:“Our second quarter results exceeded our expectations. Net sales increased 10% year over year, and adjusted EBITDA grew 86%. Customer sentiment remained positive, as strong quoting activity translated into higher order intake across our business. I am extremely pleased with the team’s performance and the continued momentum in non-new machine sales.”

“Looking ahead, we remain focused on executing our CRANES+50 strategy and continue to see opportunities for growth. While the market environment remains dynamic, we believe our disciplined approach, strong customer relationships, and strategic initiatives position Manitowoc well for the remainder of 2026.”

Vertikal Comment

What a positive first half year, it looks as though all the efforts made by the management team and employees to turn the company around over the past few years and build a strong base really are beginning to pay off now. There's still much to be done, but this is a really good sign that the corner has been turned, and we won’t slip back next quarter as we have sometimes seen in the past.

Signs are that the company is also gaining some decent upward momentum, while gaining an underlying stability from the less cyclical services business, led by MGX.

It would not surprise me to see the company beat the new higher top end projections, assuming a half-decent third quarter, of course.