Manitowoc Company Inc. Q2 Profit Decreases, misses estimates

(RTTNews) - Manitowoc Company Inc. (MTW) released a profit for second quarter that decreased from last year and missed the Street estimates.

The company's earnings totaled $15.1 million, or $0.42 per share. This compares with $17.9M, or $0.50 per share, in last year's second quarter.

Excluding items, Manitowoc Company Inc. reported adjusted earnings of $7.4 million or $0.21 per share for the period.

Analysts on average had expected the company to earn $0.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 7.2% to $497.2 million from $463.6M last year.

Manitowoc Company Inc. earnings at a glance (GAAP) :

-Earnings (Q2): $15.1 Mln. vs. $17.9M. last year. -EPS (Q2): $0.42 vs. $0.50 last year. -Analyst Estimates: $0.32 -Revenue (Q2): $497.2 Mln vs. $463.6M last year.