Manitowoc Company Inc. reported its fourth-quarter (Q4) and full-year (FY) 2025 earnings, with FY net sales reaching USD 2.25 billion to USD 2.35 billion. Adjusted EBITDA for the full year was within the guidance range, at USD 125 million to USD 150 million. Free cash flow for FY 2025 included a USD 45 million payment related to the settlement of an EPA matter and environmental mitigation project. The company achieved a record USD 690 million in non-new machine sales for the year, representing a 10 percent year-over-year increase. Manitowoc expanded its aftermarket footprint, increased field service technician headcount by 12 percent to over 500, and launched 11 new models during 2025. The CRANES+50 strategy continued to gain momentum, focusing on growing field service capabilities, expanding and upgrading locations, and introducing new complementary products. For 2026, Manitowoc provided full-year guidance of net sales between USD 2.25 billion and USD 2.35 billion, adjusted EBITDA between USD 125 million and USD 150 million, depreciation and amortization of USD 60 million, interest expenses of USD 35 million to USD 38 million, provision for income tax expense of USD 11 million to USD 15 million, adjusted diluted EPS of USD 0.45 to USD 0.90, capital expenditures of USD 45 million to USD 50 million (with USD 25 million related to the rental fleet), and free cash flow of USD 40 million to USD 65 million. The company noted improved overall customer sentiment, favorable macroeconomic drivers, and an impending fleet replacement cycle. Regionally, sentiment in Europe was positive, driven by public stimulus funding and continued improvement in tower and mobile crane demand, while North American sentiment remained muted due to tariff-related uncertainty. Manitowoc also announced a new Hiab distribution agreement as part of its ongoing strategic initiatives.

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