Pandemic affects Manitowoc’s second quarter financials

D.Ann Shiffler

06 August 2020

Manitowoc reports a second quarter loss due to a decline in sales and reduced manufacturing activity.

The Manitowoc Company reported a second-quarter net loss of US$12.7 million, or $0.37 per diluted share. Second-quarter adjusted net loss of $16.2 million, or $0.47 per diluted share, declined $49.7 million year-over-year.

Net sales in the second quarter of 2020 decreased 35 percent, year-over-year to $328.3 million. The Covid-19 pandemic…

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