The Manitowoc Company, Inc. (NYSE:MTW) Q2 2022 Earnings Conference Call August 5, 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

Stephen Volkmann - Jefferies

Tami Zakaria - JPMorgan

Joe Grabowski - RW Baird

Seth Weber - Wells Fargo Securities

Steven Fisher - UBS

Timothy Thein - Citigroup

Larry DeMaria - William Blair

Operator

Good day, everyone and welcome to The Manitowoc Second 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 second 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 and Presentation. 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 2. 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 statement, whether as a 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 3. Our financial results in the second quarter were relatively in line with our expectations. The team made monumental efforts to deliver just shy of $500 million in revenue and over $36 million of adjusted EBITDA. These results reflect the team’s hard work to find solutions to our part shortages, implement price increases, and manage costs. I am very proud of our team’s metal in an extremely difficult operating environment. Day-to-day execution in our business remains challenging and the team continues to face a multitude of logistical and supply chain constraints. I would like to take the opportunity to thank The Manitowoc team for going above and beyond to achieve these results.