=Manitowoc (MTW) reported 4Q earnings on Thur 28 Jan 2016 (a/h)

** charts before earnings **



** charts after earnings **

Manitowoc beats by $0.23, reports revs in-line :

• Reports Q4 (Dec) earnings of $0.43 per share, excluding non-recurring items,$0.23 better than the Capital IQ Consensus of $0.20; revenues fell 9.9% year/year to $934.8 mln vs the $932.15 mln Capital IQ Consensus.
• The company is initiating separate full-year 2016 guidance in anticipation of the separation of the Crane and Foodservice businesses
• For the full-year 2016, Manitowoc Foodservice expects:
  • Organic Revenue -- up 2% - 4% over 2015 net sales -- as adjusted (excludes KPS)
  • Organic operating margin -- between 16% and 17% (excludes KPS, includes corporate costs)
• For the full-year 2016, Manitowoc Cranes expects:
• Revenue -- approximately flat
• Operating margin -- approximately 4%

"The full-year 2016 net sales outlook for Manitowoc Cranes assumes no improvement in the global economic backdrop, but modest stabilization in demand. The full-year 2016 operating margin outlook incorporates the incremental corporate expenses Cranes will assume post-spin, offset by the cost optimization efforts we will continue to undertake."