$MTW
MANITOWOC CO INC

2022 Q2 Form 10-Q Financial Statement

#000095017022015140 Filed on August 05, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q4
Revenue $497.2M $459.0M $497.8M
YoY Change 7.25% 29.55% 15.69%
Cost Of Revenue $408.5M $374.0M $418.4M
YoY Change 9.46% 30.81% 18.76%
Gross Profit $88.70M $85.00M $79.40M
YoY Change -1.88% 24.27% 1.79%
Gross Profit Margin 17.84% 18.52% 15.95%
Selling, General & Admin $67.90M $69.90M $61.20M
YoY Change 14.31% 21.14% 13.97%
% of Gross Profit 76.55% 82.24% 77.08%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $15.60M $16.10M $16.70M
YoY Change 60.82% 61.0% 67.0%
% of Gross Profit 17.59% 18.94% 21.03%
Operating Expenses $68.70M $70.70M $61.90M
YoY Change 15.46% 22.32% 15.06%
Operating Profit $18.30M $17.60M $17.50M
YoY Change -31.46% 64.49% -27.69%
Interest Expense -$8.200M -$7.800M -$7.800M
YoY Change 7.89% 4.0% 0.0%
% of Operating Profit -44.81% -44.32% -44.57%
Other Income/Expense, Net -$10.30M -$8.000M $1.200M
YoY Change 114.58% -16.67% -121.05%
Pretax Income $8.000M $9.600M -$4.800M
YoY Change -63.47% 772.73% -151.61%
Income Tax -$7.100M $6.500M -$1.200M
% Of Pretax Income -88.75% 67.71%
Net Earnings $15.10M $3.100M -$3.600M
YoY Change -15.64% -200.0% -300.0%
Net Earnings / Revenue 3.04% 0.68% -0.72%
Basic Earnings Per Share $0.43 $0.09
Diluted Earnings Per Share $0.42 $0.09 -$103.2K
COMMON SHARES
Basic Shares Outstanding 35.28M 35.13M
Diluted Shares Outstanding 35.55M 35.57M

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $42.50M $51.60M $75.40M
YoY Change -73.19% -67.44% -41.41%
Cash & Equivalents $42.50M $51.60M $75.40M
Short-Term Investments
Other Short-Term Assets $33.60M $35.50M $36.80M
YoY Change -12.5% 16.01% 3.66%
Inventory $668.9M $643.1M $576.8M
Prepaid Expenses
Receivables $227.2M $242.2M $236.1M
Other Receivables $14.30M $14.90M $16.70M
Total Short-Term Assets $986.5M $987.3M $941.8M
YoY Change 1.43% 8.41% 8.75%
LONG-TERM ASSETS
Property, Plant & Equipment $322.2M $340.8M $358.8M
YoY Change 13.93% 19.04% 21.92%
Goodwill $247.3M $250.6M $249.7M
YoY Change 5.32% 6.73% 6.21%
Intangibles $132.5M $136.9M $139.6M
YoY Change 11.06% 15.33% 14.8%
Long-Term Investments
YoY Change
Other Assets $33.50M $41.50M $44.70M
YoY Change -13.88% -1.43% -8.02%
Total Long-Term Assets $771.3M $807.3M $833.4M
YoY Change 8.68% 12.58% 13.0%
TOTAL ASSETS
Total Short-Term Assets $986.5M $987.3M $941.8M
Total Long-Term Assets $771.3M $807.3M $833.4M
Total Assets $1.758B $1.795B $1.775B
YoY Change 4.49% 10.25% 10.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $282.6M $285.4M $238.8M
YoY Change 10.35% 27.35% 34.08%
Accrued Expenses $172.9M $177.4M $186.9M
YoY Change 8.67% 14.75% 15.51%
Deferred Revenue $28.00M $25.50M $28.70M
YoY Change 33.33% 18.06% 12.55%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $13.50M $9.100M $7.300M
YoY Change 264.86% -9.9% -30.48%
Total Short-Term Liabilities $566.5M $568.2M $521.0M
YoY Change 11.49% 18.77% 19.55%
LONG-TERM LIABILITIES
Long-Term Debt $379.7M $380.1M $399.9M
YoY Change 26.57% 26.66% 33.12%
Other Long-Term Liabilities $36.20M $51.00M $51.80M
YoY Change -83.12% -5.2% -3.72%
Total Long-Term Liabilities $538.1M $564.9M $591.8M
YoY Change 4.61% 9.39% 12.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $566.5M $568.2M $521.0M
Total Long-Term Liabilities $538.1M $564.9M $591.8M
Total Liabilities $1.105B $1.133B $1.113B
YoY Change 7.65% 13.9% 15.92%
SHAREHOLDERS EQUITY
Retained Earnings $246.1M $231.0M $227.9M
YoY Change 8.04% 5.07%
Common Stock $602.9M $602.1M $602.8M
YoY Change 0.89% 1.23%
Preferred Stock
YoY Change
Treasury Stock (at cost) $64.70M $62.90M $65.90M
YoY Change -9.5% -7.7%
Treasury Stock Shares $5.616M $5.475M $5.738M
Shareholders Equity $653.2M $661.5M $662.4M
YoY Change
Total Liabilities & Shareholders Equity $1.758B $1.795B $1.775B
YoY Change 4.49% 10.25% 10.71%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q4
OPERATING ACTIVITIES
Net Income $15.10M $3.100M -$3.600M
YoY Change -15.64% -200.0% -300.0%
Depreciation, Depletion And Amortization $15.60M $16.10M $16.70M
YoY Change 60.82% 61.0% 67.0%
Cash From Operating Activities $100.0K $5.600M $8.100M
YoY Change -98.88% -86.27% -77.37%
INVESTING ACTIVITIES
Capital Expenditures $8.100M $8.700M -$18.10M
YoY Change 9.46% 8.75% 64.55%
Acquisitions
YoY Change
Other Investing Activities $3.700M -$135.1M
YoY Change 3600.0% -45133.33%
Cash From Investing Activities -$4.400M -$8.700M -$153.2M
YoY Change -39.73% 8.75% 1331.78%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -5.200M -20.70M -1.500M
YoY Change 100.0% 650.0%
NET CHANGE
Cash From Operating Activities 100.0K 5.600M 8.100M
Cash From Investing Activities -4.400M -8.700M -153.2M
Cash From Financing Activities -5.200M -20.70M -1.500M
Net Change In Cash -9.500M -23.80M -146.6M
YoY Change 850.0% -179.87% -688.76%
FREE CASH FLOW
Cash From Operating Activities $100.0K $5.600M $8.100M
Capital Expenditures $8.100M $8.700M -$18.10M
Free Cash Flow -$8.000M -$3.100M $26.20M
YoY Change -633.33% -109.45% -44.02%

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ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3947963
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
3
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
497200000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
463600000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
956200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
817900000
CY2022Q2 us-gaap Depreciation
Depreciation
15600000
CY2021Q2 us-gaap Depreciation
Depreciation
9700000
us-gaap Depreciation
Depreciation
31700000
us-gaap Depreciation
Depreciation
19700000
CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8100000
CY2021Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
7400000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
16800000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
15400000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
497200000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
463600000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
956200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
817900000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
16200000
CY2022Q2 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-1400000
CY2021Q2 us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
200000
us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-2000000.0
us-gaap Standard Product Warranty Accrual Foreign Currency Translation Gain Loss
StandardProductWarrantyAccrualForeignCurrencyTranslationGainLoss
-900000
CY2022Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
57200000
CY2021Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
59500000
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
497200000
CY2021Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
463600000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
956200000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
817900000
mtw Product Liability Self Insurance Retention Levels Fluctuation Period
ProductLiabilitySelfInsuranceRetentionLevelsFluctuationPeriod
P10Y
CY2022Q2 mtw Accrual Product Liability Current
AccrualProductLiabilityCurrent
8800000
CY2021Q4 mtw Accrual Product Liability Current
AccrualProductLiabilityCurrent
9000000.0
CY2022Q2 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
57200000
CY2021Q4 us-gaap Product Warranty Accrual
ProductWarrantyAccrual
60200000
CY2022Q2 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
14900000
CY2021Q4 us-gaap Loss Contingency Accrual At Carrying Value
LossContingencyAccrualAtCarryingValue
14900000
mtw Statutory Maximum Penalties
StatutoryMaximumPenalties
174000000.0
CY2022Q2 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
27400000
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
31000000.0
CY2022Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
40800000
CY2021Q4 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
36400000
CY2022Q2 mtw Loss Guarantees With Maximum Liabilities
LossGuaranteesWithMaximumLiabilities
14200000
CY2021Q4 mtw Loss Guarantees With Maximum Liabilities
LossGuaranteesWithMaximumLiabilities
15800000
mtw Standard Product Warranty Period Low End Of Range
StandardProductWarrantyPeriodLowEndOfRange
P12M
mtw Standard Product Warranty Period High End Of Range
StandardProductWarrantyPeriodHighEndOfRange
P60M
CY2022Q2 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
6300000
CY2021Q4 us-gaap Standard Product Warranty Accrual Noncurrent
StandardProductWarrantyAccrualNoncurrent
7000000.0
CY2022Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
59400000
CY2021Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
59900000
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
60200000
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
63200000
CY2022Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
5900000
CY2021Q2 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
7600000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
11800000
us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
13400000
CY2022Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
6700000
CY2021Q2 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
8200000
us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
12800000
CY2022Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
57200000
CY2021Q2 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
59500000

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