Stock Story -
Crane and lifting equipment company Manitowoc (NYSE:MTW) will be announcing earnings results tomorrow afternoon. Here's what to look for.
Manitowoc met analysts' revenue expectations last quarter, reporting revenues of $495.1 million, down 2.6% year on year. It was a weak quarter for the company, with a miss of analysts' earningsand backlog sales estimates.
Is Manitowoc a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Manitowoc's revenue to be flat year on year at $598.1 million, slowing from the 21.2% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.49 per share.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Manitowoc has missed Wall Street's revenue estimates three times over the last two years.
Looking at Manitowoc's peers in the heavy machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Terex's revenues decreased 1.5% year on year, missing analysts' expectations by 3.2%, and Cummins (NYSE:CMI) reported revenues up 1.8%, topping estimates by 5.3%. Terex traded down 3.6% following the results while Cummins's stock price was unchanged.
Read the full analysis of Terex's and Cummins's results on StockStory.
Investors in the heavy machinery segment have had steady hands going into earnings, with share prices flat over the last month. Manitowoc is up 4.5% during the same time and is heading into earnings with an average analyst price target of $14.2 (compared to the current share price of $10.92).
![Earnings To Watch: Manitowoc (MTW) Reports Q2 Results Tomorrow](https://d68-invdn-com.investing.com/content/pic556fce132d2816d1d88905a96bea7436.jpeg)