Manitex International, Inc. (NASDAQ:MNTX) Q2 2023 Earnings Conference Call August 3, 2023 9:00 AM ET

Company Participants

Paul Bartolai - IR

Michael Coffey - CEO

Joseph Doolan - CFO

Conference Call Participants

Matthew Koranda - ROTH MKM Partners

Operator

Greetings and welcome to the Manitex International Second Quarter of 2023 Earnings Conference Call. At this time all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Mr. Paul Bartolai. You may begin.

Paul Bartolai

Thank you. Good morning, everyone and welcome to Manitex International's second quarter 2023 results conference call. Leading the call today are CEO, Michael Coffey; and CFO, Joseph Doolan. We issued a press release earlier today detailing our second quarter operational and financial results. This release together with accompanying presentation materials are publicly available in the Investor Relations section of our corporate website at www.manitexinternational.com.

I would like to remind you that management's commentary and responses to questions on today's conference call may include forward-looking statements, which, by their nature are uncertain and outside of the company's control. Although these forward-looking statements are based on management's current expectations and beliefs, actual results could differ materially. For a discussion of some of the factors that could cause actual results to differ, please refer to the Risk Factors section of our latest filings with the SEC. Additionally, please note that you can find reconciliations of historical non-GAAP financial measures in the press release issued earlier today and in the appendix of this presentation.

Today's call will begin with prepared remarks from CEO, Michael Coffey; we'll provide a review of our recent business performance, including an update on the progress we have made on our new elevating excellence initiative, followed by a financial update and outlook from our CFO, Joseph Doolan. At the conclusion of these prepared remarks, we will open the line for your questions. With that, I'll turn the call over to Mike.

Michael Coffey

Thank you, Paul, and good morning to everyone joining us on the call today. Please turn your attention to Page 3 of our presentation, where we will begin with a discussion of our second quarter results. Our team delivered another quarter of strong financial performance, highlighted by solid organic growth in both lifting equipment and rental, continued margin expansion, and further execution against our elevating excellent value creation initiatives. Demand is trending favorably across the end markets, contributing to continued new order momentum in the second quarter with backlog increasing above prior year level. While backlog growth did decline modestly from the first quarter, this is largely due to the timing of orders and improved manufacturing output.