The Manitowoc Company Updates FY24 EPS Guidance From $0.95-$1.55 To $0.45-$0.90 Vs $1.17 Est.; Revenue From $2.275B-$2.375B To $2.175B-$2.225B Vs $2.28B Est.

Author: Benzinga Newsdesk | August 07, 2024 05:38pm

Updated Full-Year 2024 Guidance

Manitowoc is updating its full-year 2024 guidance as follows:

Net sales – $2.175 billion to $2.225 billion (previously $2.275 billion to $2.375 billion)

Adjusted EBITDA – $125 million to $140 million (previously $150 million to $180 million)

Depreciation and amortization - $60 million to $63 million (previously $63 million to $67 million)

Interest expense - $36 million to $38 million (previously $32 million to $34 million)

Provision for income taxes - $9 million to $13 million (previously $18 million to $22 million)

Adjusted diluted earnings per share - $0.45 to $0.90 (previously $0.95 to $1.55)

Capital expenditures - $60 million of which approximately $25 million is for the rental fleet

Free cash flows - $30 million to $50 million (previously $30 million to $60 million)

Posted In: MTW