Manitowoc Hikes Net Sales 5.4 Percent in Third Quarter 2025
Manitowoc Co. posted $553.4 million in third quarter 2025 net sales, compared to $524.8 million in the third quarter of 2024, a 5.4-percent year-over-year increase. For the first nine months of the year, net sales totaled $1,563.8 million compared to $1,582.0 million in the first nine months of 2024, a 1.2-percent decrease.
Gross profit for the third quarter of 2025 was $102.6 million, compared to $87.6 million in Q324, a 17.1-percent increase. Gross profit for the first nine months of 2025 totaled $291.4 million compared to $279.8 million for the year-ago period, a 4.1-percent jump.
Orders in the third quarter were $491.4 million, a 15.7-percent increase from the previous year, resulting in backlog of $666.5 million.
“Manitowoc delivered solid third quarter results driven by favorable product mix, strong execution by our MGX distribution business, continued growth in our non-new machine sales, and actions to offset tariffs; all while battling softness in crane demand in the Americas caused by ongoing U.S. tariff pressures,” said Aaron Ravenscroft, president and CEO of The Manitowoc Co. “The European tower crane market continues to recover, marking the fifth consecutive quarter of year-over-year order growth. Our Q3 results help support our view that we will finish the year at the lower end of our adjusted EBITDA guidance range.
“Despite the near-term challenges, Manitowoc’s long-term outlook remains strong. We continue to invest in new product development and expand our aftermarket product offerings to service customers and grow our recurring higher margin non-new machine sales.”
About the Author
Michael Roth
Editor
Michael Roth has covered the equipment rental industry full time for RER since 1989 and has served as the magazine’s editor in chief since 1994. He has nearly 30 years experience as a professional journalist. Roth has visited hundreds of rental centers and industry manufacturers, written hundreds of feature stories for RER and thousands of news stories for the magazine and its electronic newsletter RER Reports. Roth has interviewed leading executives for most of the industry’s largest rental companies and manufacturers as well as hundreds of smaller independent companies. He has visited with and reported on rental companies and manufacturers in Europe, Central America and Asia as well as Mexico, Canada and the United States. Roth was co-founder of RER Reports, the industry’s first weekly newsletter, which began as a fax newsletter in 1996, and later became an online newsletter. Roth has spoken at conventions sponsored by the American Rental Association, Associated Equipment Distributors, California Rental Association and other industry events and has spoken before industry groups in several countries. He lives and works in Los Angeles when he’s not traveling to cover industry events.