Manitowoc Company Inc. Q2 Profit Increases, beats estimates

(RTTNews) - Manitowoc Company Inc. (MTW) revealed a profit for its second quarter that increased from last year and beat the Street estimates.

The company's earnings totaled $20.2 million, or $0.57 per share. This compares with $15.1 million, or $0.42 per share, in last year's second quarter.

Excluding items, Manitowoc Company Inc. reported adjusted earnings of $26.6 million or $0.75 per share for the period.

Analysts on average had expected the company to earn $0.31 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.2% to $602.8 million from $497.2 million last year.

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

-Earnings (Q2): $20.2 Mln. vs. $15.1 Mln. last year. -EPS (Q2): $0.57 vs. $0.42 last year. -Analyst Estimate: $0.31 -Revenue (Q2): $602.8 Mln vs. $497.2 Mln last year.

-Guidance: Full year EPS guidance: $1.10 - $1.70 Full year revenue guidance: $2.1 - $2.2 Bln