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Manitowoc 2nd-qtr profit beats Street
August 6, 2012 / 10:06 PM / 5 years ago

Manitowoc 2nd-qtr profit beats Street

Aug 6 (Reuters) - Diversified industrial manufacturer Manitowoc Co Inc reported a better-than-expected quarterly profit as demand in the Americas boosted its crane segment revenue by 10 percent.

Manitowoc, known for its crawler cranes and boom trucks, reported net earnings of $42.5 million, or 32 cents per share, compared with earnings of $3.0 million, or 2 cents per share a year ago.

Excluding items, it earned 32 cents per share from continuing operations.

Revenue rose 6 percent to $1.0 billion, including about $610.7 million from its crane segment.

Analysts on average were expecting earnings of 25 cents per share, before one-time items, on revenue of $1.04 billion, according to Thomson Reuters I/B/E/S.

Manitowoc shares closed at $12.46 on Monday on the New York Stock Exchange.

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