Is MTW's Q3 2024 EPS growth sustainable long-term?

**MTW's Q3 2024 EPS growth may not be sustainable long-term** for several reasons:

1. **Recent Performance**: MTW's diluted EPS in Q3 2024 was $0.29, with a decrease of 1.69% year-over-year. This decline, although modest, indicates a short-term fluctuation rather than a sustained long-term trend.

|code|Ticker|Name|Date|Net Income YoY|Total Revenue YoY|Diluted EPS YoY|market_code|
|---|---|---|---|---|---|---|---|
|MTW|MTW.N|The Manitowoc|2023 Q4|94.5176960444136|-4.1505791505791505||169|
|MTW|MTW.N|The Manitowoc|2024 Q1|-72.72727272727273|-2.5968915994491444|-73.91304347826087|169|
|MTW|MTW.N|The Manitowoc|2024 Q2|-92.07920792079209|-6.751824817518248|-92.98245614035086|169|
|MTW|MTW.N|The Manitowoc|2024 Q3|-167.30769230769232|0.748704165866769|-168.9655172413793|169|

2. **Challenging Market Conditions**: The company operates in the construction and industrial equipment sectors, which are sensitive to economic cycles and market conditions. The global economic landscape, including factors like currency fluctuations and geopolitical risks, can impact MTW's performance.
3. **International Market Trends**: While MTW has significant international revenue contributions, as seen with MEAP and EURAF, international markets come with their own set of risks and uncertainties. Fluctuations in foreign currency translations and differing market dynamics can affect the company's performance.
4. **Strategic Shifts and Challenges**: MTW is undergoing a strategic shift, as indicated by the "Cranes plus 50" strategy and the spinoff of the food service business. These changes may impact the company's short-term performance as it navigates the transition.
5. **Financial Metrics**: MTW's operating margin, gross margin, and net margin have shown fluctuations over the past three years, with a significant decline in net margin in 2022. These fluctuations suggest that the company's profitability is subject to various internal and external factors that may not be sustainable in the long term.

|code|Ticker|Name|Date|Gross Profit Margin|Operating Profit Margin|Net Profit Margin|market_code|
|---|---|---|---|---|---|---|---|
|MTW|MTW.N|The Manitowoc|2022 Q1|18.5185|2.2222222222222223|0.6754|169|
|MTW|MTW.N|The Manitowoc|2022 Q2|18.1657|2.1543610123405146|1.9034|169|
|MTW|MTW.N|The Manitowoc|2022 Q3|17.5774|1.4317102558650505|1.453|169|
|MTW|MTW.N|The Manitowoc|2022 Q4|17.9336|-6.130381303813038|-6.0812|169|
|MTW|MTW.N|The Manitowoc|2023 Q1|20.9128|4.3478260869565215|3.2461|169|
|MTW|MTW.N|The Manitowoc|2023 Q2|20.6372|4.275042750427504|3.303|169|
|MTW|MTW.N|The Manitowoc|2023 Q3|19.9816|3.498774509803922|2.886|169|
|MTW|MTW.N|The Manitowoc|2023 Q4|19.0861|2.6259089684890924|1.7596|169|
|MTW|MTW.N|The Manitowoc|2024 Q1|18.6831|1.2118763886083619|0.9089|169|
|MTW|MTW.N|The Manitowoc|2024 Q2|18.1801|0.8796821793416572|0.577|169|

6. **Market Analysts' Perspectives**: Various analysts have lowered price targets and ratings for MTW, indicating a cautious outlook. This sentiment could persist if the EPS growth is not supported by a clear long-term strategy and consistent performance improvements.

In conclusion, while MTW has shown resilience in certain areas, such as record non-new machine sales, the current EPS growth trajectory, when considered against the broader economic and strategic context, does not appear to be firmly established for long-term sustainability. The company's ability to navigate these challenges and capitalize on growth opportunities will be crucial in determining the sustainability of its EPS growth over the long term.