Manitex releases Q1 financial results

By Hannah Sundermeyer08 May 2020

Manitex International, a leading international provider of cranes and specialized industrial equipment, has announced first quarter 2020 results. According to Steve Filipov, CEO of Manitex International, the team delivered another solid quarter in what continues to be a very challenging business environment.


Net revenues from continuing operations for the first quarter were $48.7 million, compared to $53.1 million in the fourth quarter last year, and net loss from continuing operations was $(7.0) million, or $(0.36) per share, of which $(0.38) was attributable to a $6.7 million non-cash charge related to goodwill and intangible asset impairment.

This compares to a slight loss, or $(0.00) per share in the fourth quarter of 2019. Adjusted net income from continuing operations in the first quarter 2020 was $1.6 million, or $0.08 per share, compared to $1.3 million, or $0.07 per share, for the fourth quarter of 2019.


Photo Credit:

“The dedicated team at Manitex worked hard to address the needs of our customers and dealers in the first quarter, which was subject to a not insignificant disruption with the global outbreak of Covid-19,” said Steve Kiefer, president and chief operating officer, Manitex. ”Thanks to our multi-year diversification strategy, our products currently serve a diversified array of end-markets, supporting critical infrastructure needs. Energy sector net sales now represent less than 10 percent of our total sales, and our participation in critical market segments such as telecom, electrical utility, military and construction continues to increase.”

Operating Highlights:

  • PM Group hits record sales and profitability
  • COVID-19 financial impact of $3 million in revenues due to shut downs
  • CONEXPO orders of $2 million
  • Backlog which was $57 million as of March 31, 2020, declined 12 percent
  • Book to bill ratio was 0.83:1 in Q1 2020
  • Sabre classified as “Discontinued Operation” in Q1 2020 and subsequent financial reports until a transaction is completed
Delivered directly to your inbox, World Crane Week Newsletter features the pick of the breaking news stories, product launches, show reports and more from KHL's world-class editorial team.
Latest News
Bigfoot Construction team joins outrigger committees
Jeff Steiner has joined the SC&RA outrigger pad resource task force, and he and his nephew, Eric Steiner, are members of the P30 standards outrigger pad subcommittee. 
Talbert celebrates anniversary of detachable gooseneck
First introduced in 1962, the hydraulic detachable gooseneck technology revolutionized safety in the trailer industry.
Sarens performs critical installation at nuclear site
The Tennessee Valley Authority (TVA) initiated a major nuclear refueling and maintenance outage so that four replacement steam generators could be installed at the Watts Bar nuclear plant.
D.Ann Shiffler Editor, American Cranes & Transport Tel: +1 512 869 8838 E-mail:
Matt Burk VP Sales Tel: +1 312 496 3314 E-mail: