Stronger quarter for Manitowoc cranes

Crane manufacturer Manitowoc posted stronger financial results for the third quarter of 2025.

Net sales in the quarter were US$553.4 million, up 5.4 per cent on the same period in 2024. This figure included sales of used cranes at $177.4 million, up 4.9 % on the same quarter in 2024.

Potain tower crane sales in a recovering European market helped Manitowoc produce strong results in the third quarter. Photo: Manitowoc

Orders received were $491.4 million, up 15.7 % on the same period a year earlier. This pushed the order backlog to $666.5 million.

Net income was $5.0 million, up $12.0 million on a $7.0 million deficit last year. Adjusted earnings before interest and taxes (EBITDA) was $34.1 million, up 30.2 % on Q3 2024.

From the CEO

“Manitowoc delivered solid third quarter results driven by favourable 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 US tariff pressures. 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,” said Aaron Ravenscroft, Manitowoc Company president and chief executive officer.

“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,” Ravenscroft concluded.

*MGX Equipment Services is a Manitowoc subsidiary offering new and used cranes, rental, OEM parts, repair and remanufacturing. It also offers crane operator training and examinations under the NCCCO national certification programme.