The Manitowoc Company, Inc. (NYSE:MTW) Q3 2022 Earnings Conference Call November 8, 2022 10:00 AM ET

Company Participants

Ion Warner - Vice President, Marketing and Investor Relations

Aaron Ravenscroft - President and Chief Executive Officer

Brian Regan - Executive Vice President and Chief Financial Officer

Conference Call Participants

Jamie Cook - Credit Suisse

Seth Weber - Wells Fargo Securities

Stanley Elliott - Stifel

Tami Zakaria - JPMorgan

Operator

Good day, everyone, and welcome to The Manitowoc Second (sic) [Third] Quarter 2022 Earnings Call. For your information, today's call is being recorded.

At this time, for opening remarks and introductions, I'd like to turn the call over to Mr. Ion Warner, Vice President, Marketing and Investor Relations. Please go ahead, sir.

Ion Warner

Good morning, everyone, and welcome to The Manitowoc conference call to review the company's third quarter 2022 financial performance and business update, as outlined in last evening's press release. Participating on the call today are Aaron Ravenscroft, President and Chief Executive Officer; and Brian Regan, Executive Vice President and Chief Financial Officer.

Today's webcast includes a slide presentation which can be found in the Investor Relations section of our website under Events & Presentations. We will reserve time for questions and answers after our prepared remarks. I would like to request that you limit your questions to one and a follow-up and return to the queue to ensure everyone has an opportunity to ask their questions.

Please turn to slide two. Please note our safe harbor statement in the material provided for this call. During today's call, forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995 are made based on the company's current assessment of its markets and other factors that affect its business. However, actual results could differ materially from any implied or actual projections due to one or more of the factors, among others, described in the company's latest SEC filings. The Manitowoc Company does not undertake any obligation to update or revise any forward-looking statements, whether the result of new information, future events or other circumstances.

And with that, I will now turn the call over to Aaron.

Aaron Ravenscroft

Thank you, Ion, and good morning, everyone. Please turn to slide three. Our third quarter operating environment was similar to that of the last few quarters, significant part shortages, labor constraints, logistics disruptions and inflation. I greatly appreciate the persistence and determination of The Manitowoc team for managing through these difficult times while executing our four breakthrough initiatives to grow our aftermarket business. Growing our aftermarket reduces our cyclicality, provides recurring revenue streams and improves our margins over the long term.