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Manitowoc Today
By the People, for the People
Manitowoc Reports Solid Q4 Results, Guides for Improved 2026
Crane manufacturer sees growth in aftermarket and non-new machine sales, plans new locations and product launches.
Published on Feb. 12, 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. The company provided 2026 guidance for net sales of $2.25 billion to $2.35 billion and adjusted EBITDA of $125 million to $150 million, driven by pricing actions, the European tower crane market, and continued growth in the non-new machine business.
Why it matters
Manitowoc's results and outlook provide insight into the health of the global construction equipment market, which has faced headwinds from trade tensions and other macroeconomic factors. The company's focus on expanding its aftermarket and non-new machine sales reflects an effort to diversify its revenue streams and reduce cyclicality.
The details
For the fourth quarter, Manitowoc posted net sales of $677 million, up 14% year-over-year, driven by strong shipments in North America, European tower cranes, and continued growth from the company's non-new machine sales strategy. Non-new machine sales in the quarter were $191 million. Adjusted EBITDA was $40 million, up $5 million year-over-year, for an adjusted EBITDA margin of 5.8%. Tariffs unfavorably impacted quarterly results by $4 million. For the full year, Manitowoc reported net sales of $2.24 billion and adjusted EBITDA of $122 million, in line with expectations. Tariffs had a gross unfavorable impact of $39 million for the year, which the company mitigated approximately 85% through pricing and sourcing actions.
- Manitowoc reported fourth-quarter and full-year 2025 results on February 12, 2026.
- The company provided 2026 guidance for net sales and adjusted EBITDA.
- Manitowoc plans to unveil two new cranes at ConExpo in March 2026.
The players
Manitowoc
A global manufacturer of heavy-lift cranes and lifting equipment, including tower cranes, mobile hydraulic cranes, and engineered lifting solutions. The company serves a wide range of industries, including construction, infrastructure, energy, and industrial markets.
Aaron Ravenscroft
President and CEO of Manitowoc.
Regan
Chief Financial Officer of Manitowoc.
What they’re saying
“We must not let individuals continue to damage private property in San Francisco.”
— Robert Jenkins, San Francisco resident (San Francisco Chronicle)
“Fifty years is such an accomplishment in San Francisco, especially with the way the city has changed over the years.”
— Gordon Edgar, grocery employee (Instagram)
What’s next
The judge in the case will decide on Tuesday whether or not to allow Walker Reed Quinn out on bail.
The takeaway
This case highlights growing concerns in the community about repeat offenders released on bail, raising questions about bail reform, public safety on SF streets, and if any special laws to govern autonomous vehicles in residential and commercial areas.
