What caused MTW's Q2 2024 EPS to miss forecasts?

The Manitowoc Company's (MTW) Q2 2024 EPS fell short of forecasts due to several key factors:

1. **Ongoing Weakness in EURAF Segment**: The Europe and Africa (EURAF) segment has been a significant drag on MTW's performance, contributing to the decline in revenues and profits. This segment has seen a consistent decrease in new and non-new machine sales, primarily due to weak housing permits in key markets like France and Germany.
2. **Supply-Chain, Labor, and Logistic Constraints**: MTW has faced challenges in managing its supply chain, labor, and logistics effectively. These constraints have led to increased costs, including labor, raw materials, and components, which have adversely impacted the company's profitability.
3. **Decreased Manufacturing Volume**: The company has experienced a reduction in manufacturing volume, particularly in the EURAF segment, which has led to decreased absorbed costs and an unfavorable product mix. This decrease in volume has also contributed to lower gross profit and adjusted operating income.
4. **Energy Costs**: MTW has had to contend with higher energy costs, which have added to the company's expense burden, further compressing margins.

In summary, MTW's Q2 2024 EPS miss can be attributed to the combined effect of weak segment performance, operational inefficiencies, and external cost pressures.