What is the revenue and EPS growth rate for The Manitowoc year over year?

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Did The Manitowoc beat or miss consensus estimates last quarter?

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- **Revenue & Profit Growth**: Q3 revenue +5% YoY to $553M, adj. EBITDA +30% to $34M (6% margin). Non-new machine sales hit $667M (12M trailing) with 35% margins.
- **Order Momentum**: Q3 orders +16% YoY to $491M, tower cranes +34% YoY for 5th straight quarter. Backlog $667M.
- **Tariff Mitigation**: 2025 tariff cost est. $44M, 80-90% mitigated; Q3 impact $2M.
- **Strategic Initiatives**: CRANES+50 strategy driving aftermarket growth; new Grove crane launch in 2026.

**【CEO Summary Section】**
- **Revenue Growth**: Q3 revenue of $553 million, up 5% YoY, driven by European tower crane and MGX businesses. Adjusted EBITDA rose 30% YoY to $34 million (6% margin). 
- **Order Momentum**: Q3 orders $491 million (+16% YoY), with tower cranes up 34% YoY for 5th straight quarter. Backlog at $667 million.
- **Market Highlights**: 
  - Europe: France housing permits up, Germany infrastructure spending ($500B fund), Spain housing shortage.
  - Middle East: UAE data center project (20 cranes), potential Dubai Airport deal (150 cranes).
  - North America: 20% YoY order growth despite tariff uncertainty; dealer inventory at all-time lows.
- **Operational Excellence**: Zhangjiagang factory productivity +30% YoY with same headcount. RIR safety metric improved 36% YoY to 0.83.

**【CFO Financial Commentary】**
- **Financial Performance**: 
  - GAAP net income $420M; Non-GAAP EPS $1.08 (vs. $0.95 prior).
  - Non-new machine sales $667M (12M trailing), 35% gross margin contribution.
- **Tariff Impact**: 2025 tariff cost est. $44M, 80-90% mitigated. Q3 tariff impact $2M.
- **Liquidity**: Cash $40M, total liquidity $213M. Net leverage 3.9x.
- **Guidance**: Full-year adj. EBITDA at low end of range due to working capital delays.

**【Q&A Key Highlights】**
- **Margin Expansion**: Driven by higher-margin non-new machine sales (+8% YoY) and improved tower crane mix.
- **Sales Growth**: Sequential recovery from Q2, partly due to delayed shipments.
- **Tariff Strategy**: As U.S. crane manufacturer, domestic production mitigates impact; 50% steel derivative tariffs on imports expected to reduce demand but benefit domestic share.
- **2026 Outlook**: New Grove 8-axle crane launch (2027 serial production, $100M+ potential).

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