Manitex International, Inc. (NASDAQ:MNTX) Q4 2023 Earnings Conference Call February 29, 2024 9:00 AM ET

Company Participants

Paul Bartolai - Investor Relations

Michael Coffey - CEO

Joseph Doolan - CFO

Conference Call Participants

Ted Jackson - Northland Securities

Operator

Greetings. Welcome to Manitex International's Fourth Quarter and Full-Year 2023 Results Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions]. I will now turn the conference over to your host, Paul Bartolai, of Investor Relations. You may begin.

Paul Bartolai

Thank you. Welcome to Manitex International's fourth quarter and full-year 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 fourth quarter and full-year 2023 operational and financial results. This release, together with the 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, who'll provide a review of our recent business performance, including an update on the progress we have made on our new Elevating Excellence initiatives as well as our key priorities for 2024, 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, everyone, who is joining us on the call today. Our fourth quarter results were a strong finish to a transformative year at Manitex. One year ago, we introduced Elevating Excellence, a strategy focused on growth, operational efficiency and a disciplined approach to capital allocation. In one year of Elevating Excellence, we delivered 40% year-over-year growth in adjusted EBITDA, nearly 240 basis points of adjusted EBITDA growth, margin expansion and a significant reduction in our net leverage profile.