Manitowoc posts 30 percent gains in 2006

15 April 2008

Net sales at the Manitowoc Company in 2006 were a record $2.9 billion, up more than 30% on 2005. Cranes, from the Manitowoc Crane Group (MCG), were by far the largest contributor accounting for $2.2 billion of the total net sales.

Results for the most recent quarter (Q4 2006) show a 32% increase in the Manitowoc Company's net sales to $775.2 million from $589.3 million during the fourth quarter of 2005. An even bigger increase was in the fourth quarter 2006 net sales for the MCG segment, which increased 38% to $604.6 million, from $438.9 million in the fourth quarter of 2005.

Operating earnings at MCG for the fourth quarter of 2006 increased 159% to a record $77.6 million, from $30 million in the same period last year. The order backlog was $1.5 billion at year-end, 10% higher than at the end of September 2006, and 77% higher than at the end of 2005.

The crane segment will be the primary growth driver in 2007, where revenue growth of more than 20% in 2007 is forecast, according to a company statement.

“The crane segment continues to drive outstanding financial performance through its global positioning and strong product line,” Terry Growcock, Manitowoc chairman and chief executive officer, said.

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
Bauma premiere for Jaso flat top crane
The company will exhibit the J235.12 at the exhibition alongside the Low Top J390
Looking back at the iconic Bauma trade show
After a delay and other challenges associated with the Covid-19 pandemic, Bauma 2022 will happen this month in Munich!
Barnhart opens second Ohio location
The addition of the Columbus branch enhances Barnhart’s presence in the Midwest. 
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: