Why did MTW's Q4 2024 EPS slightly underperform?

The EPS of MTW's Q4 2024 underperformed slightly can be attributed to **Revenue Shortfall in Europe and Africa**. Manitowoc's revenue shortfall was primarily due to weaker demand in its key markets of Europe and Africa. The company's EURAF segment, which includes its Tower Crane business, has been a significant headwind, with order intake sluggish for mobile cranes in both Europe and North America. This downturn is attributed to various factors, including political uncertainties surrounding the U.S. election and the continued higher interest rate environment, which have led to a postponement of new crane purchases by customers. Additionally, the challenges related to supply-chain, labor, and logistic constraints have further exacerbated the revenue shortfall in these regions. These constraints have increased the cost of operations and reduced the efficiency of the business, ultimately impacting the profitability of the company. In summary, the revenue shortfall in MTW's Q4 2024 can be attributed to weaker demand in its key markets of Europe and Africa, primarily due to political uncertainties, higher interest rates, and supply-chain challenges. These factors have led to a decline in new crane purchases and an increase in costs, resulting in the underperformance of the company's EPS in the quarter.