03.11.2026

Another strong quarter from Manitowoc

US based crane manufacturer Manitowoc, which also includes Grove, Potain and National Crane, has reported its third quarter results

YTD
Total revenues for the nine months to the end of September were $1.7 billion, up 8.25% on the same point last year.
Order intake for the period was $2.03 billion, up 38% on 2025.
The backlog/order book at the end of September was $1.11 billion, up 67% on the same point last year.

Pre-tax profit improved from zero /break even at this time last year to $30.9 million profit this year, thanks to the higher revenues and tight control of operating costs.

Third Quarter

Total revenues for the quarter increased 10.9% to $613.8 million, following a 5.4% improvement in the same quarter last year.
Order intake jumped 37.6% to $676.4 million.
Pre-tax profit increased 2.5-fold, jumping from $7.5 million to $18.8 million this year, thanks to the higher volumes and flat operating costs.

Chief executive Aaron Ravenscroft said: “Manitowoc’s third quarter results exceeded our expectations, highlighted by robust orders, double digit sales growth, and a significant improvement in earnings.”
Backlog expanded over the last four consecutive quarters, reflecting continued strength in crane demand, particularly in the Americas, Middle East, and Asia Pacific, providing good visibility to the fourth quarter and into 2027.”

“For the remainder of the year, our priorities remain clear: execute against our backlog, improve working capital efficiency, and continue to grow the aftermarket business through our Cranes+50 strategy.”

Vertikal Comment

Another strong quarter from Manitowoc, building on the solid first half. In spite of this, the company is not upgrading its full-year revenue forecasts, leaving expectations at $2.3 to $2.4 billion.

Tomorrow’s conference call may provide a little more underlying detail, and if so, we will update this report.

But when all is said and done, Manitowoc is firmly on the comeback trail, and almost certainly increasing its market share.