Manitowoc Reports Strong Q4 Orders and Sales Growth

Crane manufacturer sees backlog rise 22% in 2025 despite tariff headwinds

Published on Feb. 11, 2026

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Manitowoc (NYSE:MTW) reported fourth-quarter and full-year 2025 results that management said were in line with expectations, highlighted by a sharp increase in quarterly orders, year-over-year sales growth, and progress in expanding its aftermarket and other 'non-new machine' revenue streams.

Why it matters

Manitowoc's results demonstrate the company's ability to navigate a challenging operating environment in 2025, driven in part by the 'Great Trade Reset' in the U.S. The strong order growth and backlog build suggest continued demand for Manitowoc's cranes and lifting equipment, particularly in international markets like the Middle East and Europe.

The details

Orders and backlog rose sharply in the fourth quarter, with Manitowoc generating $803 million in orders, up 56% year-over-year. The company ended the year with a backlog of $794 million, up 22% from the prior year. Fourth-quarter sales grew 14% to $677 million, driven by strong shipments in North America, European tower cranes, and continued growth in non-new machine sales. However, tariffs unfavorably impacted quarterly results by $4 million, weighing on profitability.

  • Manitowoc reported fourth-quarter and full-year 2025 results on February 10, 2026.
  • The company generated $803 million in orders in the fourth quarter of 2025, up 56% year-over-year.
  • Manitowoc ended 2025 with a backlog of $794 million, up 22% from the prior year.

The players

Aaron Ravenscroft

President and CEO of Manitowoc.

Brian Regan

Chief Financial Officer of Manitowoc.

Manitowoc

A global manufacturer of heavy-lift cranes and lifting equipment, including tower cranes, mobile hydraulic cranes, and engineered lifting solutions.

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