3SOF

MTW is making all the cranes for the expansion in China.  

They made $0.76 last quarter, I expect this to be matched and exceeded in each of the next quarters, making MTW very cheap at $46.50.  I bought just now at $46.50.

So if they make $3 in the next year, the PE will be 15.  Deserves a higher valuation.  I'll sell closer to $100 than $50.   The street is catching on to everything that capitalizes on the huge growth in China.  MTW has seen some nice stock price appreciation but I think it has plenty left to give..

Thanks much bjc. MTW has been on my want list, but neglected to watch closely after missing the $44.50 pivot previously. Should be a great buy in right here. Gotta sell something else first though. :'(

Keep up the good work.

Bjc, just wondering if you subscribe to IBD. Most of your  picks are on the IBD 100. Funny thing though, MTW has been on the list for quite sometime, but checking today, it has been bumped off for whatever reason. I bought some anyway $46.46.

No, but I'll subscribe at some point.  I definitely agree with their analysis system, I think mine is basically very similar.  I just like stocks that are growing quickly and are still cheap.  EPS growth is very important to me and I know EPS growth is the main thing for IBD. 

Quote from: bjc on October 15, 2007, 04:29:35 PM
No, but I'll subscribe at some point.  I definitely agree with their analysis system, I think mine is basically very similar.  I just like stocks that are growing quickly and are still cheap.  EPS growth is very important to me and I know EPS growth is the main thing for IBD. 

Accelerating EPS and rev growth, profit margins, R.O.E., institutional accumulation, technicals, market leader stocks are all things they take into consideration, but not everything on the 100 list is cheap, many can grow very richly valued and some eventually can take a dump. Many can remain on the list for VERY long periods. Some people erroneously  think the IBD 100 list is a buy list. It is not. It is a list of market leading stocks (both fundamentally and technically). They are always stressing to never buy overextended, to use DD and only buy within proper buy points (technical) with confirming volume or positive pullbacks to key points. and then if it doesn't work out, to get out. I believe MTW is within that proper buy range, even though not on the list anymore, I already knew I wanted.

IBD sometimes gets a bad rap, I hear it all the time, because people think just because it's on the list it's an automatic buy, or some  stocks have rallied to above $15 and appeared on the list (they have to be above $15 to appear on the list, thats where IBD considers them to be institutional quality) and then the stock sells off and immediately dissappears from the list because it can't hold $15.. This does happen.

One that made the list Friday was ICOC at #9, the fundamentals were already there, it just needed to get above $15. It now has to stay above $15 to stay on the list. I think it will. Their comment s are that it is "33% past $12.18 buy pt of volatile 9-week cup base."
They are not endorsing a  buy here and won't until it either breaks out of a proper base or pulls back  to certain key points. But they do consider it a "market leader"

Anyway, enough of the IBD sales pitch. Thanks for the MTW tip. I'm also going to look again at SLT #53. Think I'm way too heavy in China and need to diversify some elsewhere. Have you kept up with the political situation between SLT and the government of India? Anything resolved?

I think that situation has been resolved, but I'm not sure. 

SLT is a rocketship, it was up $2+ at one point this morning.  I think mining stocks in general have the ability to appreciate a lot, especially the really cheap ones.  Companies like BHP have PEs expanding to the 18 range, while SLT is still in the single digits and FCX is in low teens.  A lot of room for appreciation if you ask me.

Quote from: bjc on October 15, 2007, 06:52:51 PM
I think that situation has been resolved, but I'm not sure. 

SLT is a rocketship, it was up $2+ at one point this morning.  I think mining stocks in general have the ability to appreciate a lot, especially the really cheap ones.  Companies like BHP have PEs expanding to the 18 range, while SLT is still in the single digits and FCX is in low teens.  A lot of room for appreciation if you ask me.

Looks like SLT wants to go all the way down to fill the gap at $20. Theres a thread on SLT with some pretty good info you might want to read. Haven't decided yet to buy or not. I think the issue with the Indian government is still a concern.

Nice buying opportunities today in a lot of stocks IMO.

SLT got crushed.

MTW came back a little bit more.  This stock, MTW, is so cheap it just can't really go down much more.  Unless suddenly they're going to stop selling more cranes than they can make, MTW is worth well over $75 a share. 

I'll look for the information in question on SLT.   I could swear the offering paid for the India government's stake.  I'll check into it.

On a sidenote, IBM down a couple % and INTC up 3% after each reported earnings a short time ago.

Quote from: bjc on October 16, 2007, 04:20:55 PM

I'll look for the information in question on SLT.   I could swear the offering paid for the India government's stake.  I'll check into it.

If so, the market is really pricing SLT inefficiently, and I'm going to want a piece of it. Thanks.

Quote from: bjc on October 16, 2007, 04:20:55 PM
MTW came back a little bit more.  This stock, MTW, is so cheap it just can't really go down much more.  Unless suddenly they're going to stop selling more cranes than they can make, MTW is worth well over $75 a share. 

Well, I guess I was wrong.  You could've gotten it for 6 points, or almost 15% less than what I thought if you were quick.  And you'd already be up over 10%.

MTW looks good.  Just broke the short term downtrend, MACD will have a bullish cross with a couple more nice up days. 

When the stock corrected / consolidated 20%, nothing changed at the company.  They're still selling a buttload of cranes in China.  TEX reported overall lackluster #s two nights ago, and MTW kinda got hit yesterday for it but held up well.  But the thing is, the big similarity between TEX and MTW is the cranes business, and TEX's cranes numbers were awesome. 

I look forward to blowout earnigns, increased backlog, etc.  If we get that, it's a nice slow (or fast, I don't care) ride to about 75.  This growth is deserving of a higher multiple than 22.  MTW has gone up a point since I started typing this post I think, up 2.40 now. 

Chart..all indicators ready for a rally, slightly oversold if anything. 


By the way, it's nice to see the market finally respond to what I have thought has been an excellent round of earnings. 

bjc, it was a little disappointing to have it drop like that right after purchasing, but I held and should have added. I think CAT's disappointing guidance, maybe even Cummins affected it also, even though it shouldn't have come as any surprise. I watch lots of ER's, and for the most part have been VERY good, of course with the exception of financials.

Quote from: BigSully1 on October 26, 2007, 03:15:56 PM
bjc, it was a little disappointing to have it drop like that right after purchasing, but I held and should have added. I think CAT's disappointing guidance, maybe even Cummins affected it also, even though it shouldn't have come as any surprise. I watch lots of ER's, and for the most part have been VERY good, of course with the exception of financials.

Here's a few others that were ugly or disappointing- TRID, KLAC, CRUS, VSEA (Good ER, but very disappointing forward guidance)

Sully-

I don't expect anything but excellent news from MTW.  I think the stock's recent action supports my thinking, but of course we all know anything could happen.   And we're both finally in the green.   8)

The stock is acting quite strong, only 2 points from 52 week / all time highs.  It is simply really cheap, especially relative to growth.  I plan on making 50%+ in the next 6 months on MTW, if not more sooner. 


TEX is also looking attractive after getting crushed after it's earnings.  It is a similar stock to TEX with less growth trading at a lower multiple.  Value/growth hybrid investors like me will begin to flow in very soon I'd believe.  It's crane #s, the sector it has in common with MTW, were amazing this quarter.  Rest of ER disappointed.  Check it out, I don't know how much longer I'll be able to resist...I think it should get a nice bounce from buyers who want to get in under $70.

Hey bjc.

GEHL is another one in the Ag/construction equip. sector (tiny co.) that got crushed more today after ER.

Sully-

Are you concerned about MTW's earnings?  I'm confused..

MTW isn't really in any of the same businesses, just overall sector as these companies you keep providing.  These profiles are from Google Finance.

MTW -

The Manitowoc Company, Inc. is a diversified industrial manufacturer in three principal markets: Cranes and Related Products, Foodservice Equipment and Marine. The Crane business designs, manufactures and markets a line of crawler cranes, mobile telescopic cranes, tower cranes and boom trucks. Foodservice business is a manufacturer of cold side commercial foodservice products. It designs, manufactures and markets product lines of ice making machines, walk-in and reach-in refrigerators and freezers, fountain beverage delivery systems and other foodservice refrigeration products. Marine segment provides new construction, shiprepair and maintenance services for freshwater and saltwater vessels from four shipyards.


GEHL -

Gehl Company (Gehl) designs, manufactures and distributes compact equipment for construction and agriculture applications. Its compact equipment and related attachments are primarily used in a variety of earthmoving and material handling applications. The Company also provides financing for its dealers and their customers. Its compact equipment consists of skid loaders, telescopic handlers, compact excavators, compact track loaders, all-wheel-steer loaders, compact mini-loaders and asphalt pavers. The Company also provides an assortment of related attachments, including pallet forks, augers and backhoes, primarily for skid loaders. The Company operates in two segments, construction equipment and agricultural equipment. Its agricultural implements encompass a range of products, including haymaking, forage harvesting, manure handling and feed making equipment. In March 2006, the Company decided to discontinue the manufacturing and distribution of its agricultural implement products.


I just don't really see them as being all that similar.  MTW isn't going to see any slowdown selling cranes in Asia. 

What is your cost?  Are you going to sell before earnings Wednesday?

No, no bjc, I was just making comments, mostly regarding some tepid guidance on N. American sales and earnings on those in the general sector. Isn't TEX very similar to GEHL, only larger?

I realize that MTW is mostly in a different ballpark and yes, as of now I intend to hold through earnings. My position is small, I think at $46.46.

Cat's ER was just something I offered as a possible explanation (however illogical) on why MTW dropped after we bought.

Sorry bout the confusion.

MTW down a couple bucks after hours after the earnings, which brings it down to about even for the day, down $0.50 right now. 

But the earnings look great!  Guidance and everything..I think this is a false reaction downward and we should push to new highs if the market cooperates which it looks like it should.

Here's the PR.


Press Release   Source: The Manitowoc Company, Inc.

Global Crane Demand Drives Strong Third-Quarter Performance for Manitowoc
Wednesday October 31, 5:30 pm ET
- Third-quarter 2007 net sales top $1 billion, an increase of 29 percent from the third quarter of 2006
- Third-quarter 2007 diluted earnings from continuing operations before special items were a record $0.65 per share, an increase of 59 percent from the third quarter of 2006
- Strong long-term outlook supports manufacturing capacity expansion initiatives
- 2007 EPS guidance range raised to $2.45 - $2.50 excluding special items

MANITOWOC, Wis., Oct. 31 /PRNewswire-FirstCall/ -- The Manitowoc Company (NYSE: MTW - News) today reported its financial results for the quarter ended September 30, 2007, as continued strong global demand for the company's lifting solutions drove outstanding performance in sales, profitability, and earnings per share. For the quarter, net sales totaled $1.0 billion, an increase of 29 percent from the third quarter of 2006. Reported earnings per diluted share were $0.59 for the third quarter of 2007 compared to $0.40 for the third quarter of 2006.

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Earnings per diluted share in the third quarter of 2007 include a $0.06 per share charge for costs related to the redemption of the company's Senior Subordinated Notes due 2012. Reported results for the third quarter of 2006 included $0.01 per share in nonrecurring charges related to the termination of a proposed acquisition. Reported earnings per diluted share for the nine months ended September 30, 2007 were $1.87, which is up 93 percent over the same period in 2006. Per share amounts for both periods reflect the two-for-one stock split on September 10, 2007. A reconciliation of GAAP earnings to earnings from continuing operations for the three months and nine months ended September 30, 2007 and 2006 is included later in this release.

"Strong global demand for lifting equipment continues to support the company's outstanding performance, and we believe that the fundamental drivers of this demand will remain intact for an extended period," said Glen E. Tellock, Manitowoc's president and chief executive officer. "The traditional lifting markets of North America and Western Europe continue to perform as expected in this current cycle. It is the strength and depth of demand in the emerging markets that gives us the confidence to make meaningful additions to our crane production capacity on a global basis. Customer feedback, coupled with our own market research, shows that the demand for lift solutions in emerging markets will continue to outpace current industry production capacity for several years."

Reflecting this long-term outlook, Manitowoc Crane Group has recently launched several production capacity expansion initiatives:

    -- A 57,000-square foot expansion of the company's crawler crane
       manufacturing facility in Manitowoc, WI;
    -- Expansion and process enhancements at the company's Port Washington, WI
       specialty machining facility to enhance crawler crane capacity;
    -- Entrance into the India market with the acquisition of Shirke
       Construction Equipment, a long-time Potain tower crane supplier; and
    -- Better access to the Eastern European markets through development of a
       manufacturing facility in Slovakia.


"In addition to strong Crane performance, our other business segments are also performing well. Manitowoc Foodservice Group continues to generate solid profit contributions, even though results for the current quarter reflect softer demand in the ice machine market," Tellock said. "Our Marine segment continues to show improved long-term performance trends. Results for the third quarter reflect strong commercial construction activity and the benefit of process improvements previously initiated in the Marine Group."

Business Segment Results

Third-quarter 2007 net sales in the Crane segment increased 39 percent to $812.3 million, the group's 26th consecutive quarter of improved year-over-year results. Operating earnings for the third quarter of 2007 increased 48 percent to $112.3 million, from $76.1 million in the same period last year. Backlog totaled $2.7 billion at September 30, 2007, an increase of 28 percent from June 30, 2007 and nearly double the level achieved at September 30, 2006.

"Demand for our full line of lifting solutions continues to be strong in all regions and for nearly all product lines," said Tellock. "Our view of the industry is that demand will remain strong through the end of the decade, with the potential for additional infrastructure and industrial projects in emerging markets to push that window of demand out even farther. Maintaining our global leadership position during this time of robust demand will remain an important strategic objective. Our investments in global capacity expansion are aimed at enhancing our ability to deliver and support high-quality products around the world in a timeframe that meets customer requirements."

In the Foodservice segment, third-quarter 2007 net sales decreased 1 percent to $112.9 million from $114.5 million in the third quarter of 2006. Operating earnings for the third quarter of 2007 were $17.9 million, a decrease of nearly 4 percent from the same period in 2006.

"The performance of the Foodservice segment this quarter reflects the impact of cooler weather in several of our larger markets compared to the prior year, which reduced the replacement demand for our ice machine products. In addition, lower capital spending by many of the major chains during the quarter further dampened our performance," Tellock said. "The ice business results were partially offset by continued improvements in our beverage and refrigeration businesses. Our beverage business is benefiting from new product introductions such as the Flex-Tower, even though a major national refresh program that was anticipated to begin in the second half of 2007 has been delayed until 2008. Additionally, manufacturing efficiency gains within our refrigeration division continue to improve its operating performance."

Revenue for the Marine segment during the third quarter of 2007 was $81 million, equaling the prior year's level; however, operating earnings grew significantly to $6.4 million in the third quarter of 2007 compared to $2.4 million in the third quarter of 2006. The improved operating margin was driven primarily by increased profit contributions from the company's backlog of commercial projects.

"The bulk of the Marine segment's improved profitability was driven by outstanding performance at Bay Shipbuilding, which is benefiting from process manufacturing efficiencies on repeat commercial projects. The Marine segment recently added to its strong commercial backlog with the signing of a tank barge/tug project for a new customer," Tellock said. "Manitowoc Marine Group is able to attract new business from existing customers and to attract new customers because of its reputation for outstanding quality and project management. These attributes were recently displayed when the US Navy conducted an extensive inspection of the Littoral Combat Ship FREEDOM. Although the future of the LCS program continues to evolve, the Navy's view of our shipbuilding abilities at Marinette Marine is extremely positive. We will continue to work with the Navy to serve as its partner on this and other important military programs."

Strategic Priorities

"The Manitowoc Company's solid performance is a tribute to our adherence to a set of strategic priorities," Tellock said. "Many companies embrace strategic planning during lean times, and then shift their focus to immediate opportunities during the inevitable upswing. Our role as managers is to maintain a long-term focus on these priorities throughout all phases of the business cycle and make the needed investments in capital and resources to ensure our success. We need only look to the current state of our Crane business to see the validation of this strategy."

Growth: Today, our greatest growth opportunities lie in capturing incremental sales from our current crane customers, and in exploring opportunities to grow our Foodservice segment through acquisitions and internal initiatives. We're investing in people, production capacity, and support infrastructure to meet these goals, which should drive continued strong performance in 2008.

Innovate: Our businesses rely on a "voice of the customer" approach to identify end-user needs. This approach is a vital element in our product development efforts which will result in our Crane and Foodservice segments introducing nearly 50 new products this year.

Customer Focus: One of the objectives of our capacity expansion efforts in the Crane segment is to be able to meet the delivery times that customers require. We've observed a compression in the crane purchasing decision cycle, with much less time available for manufacturers to bid, build, and deliver equipment. Our enhanced production capabilities should help keep Manitowoc Crane Group the favored choice for complex, global construction projects.

Excellence in Operations: The Marine segment has accomplished a tremendous turnaround in the past 18 months. By re-engineering many of its business and manufacturing processes, such as man-hour scheduling, supply chain logistics, and fully utilizing one of the nation's most experienced team of shipbuilders, our Marine segment has strengthened its reputation as a leading shipbuilder.

People and Organizational Development: Our employees are our most valuable resource. Internal training programs enable us to identify and train our next generation of supervisors and managers, while external relationships with colleges and trade schools enable us to recruit great people for our growing organization. These initiatives not only help to define our corporate culture, but are also a key component of our global growth strategies.

Aftermarket Support: We define world-class aftermarket support as a service offering that combines training, parts availability, real-time technical expertise, and on-the-ground partnerships to create a true competitive advantage for the Manitowoc customer. Our Crane and Foodservice segments fully embrace this strategy and are working to expand it globally.

Create Value: For the seventh consecutive quarter, all three business segments were positive EVA contributors, and through the nine months of 2007, EVA totaled nearly $150 million.

Earnings Guidance

"We are increasing our 2007 earnings guidance to $2.45 to $2.50 per share, excluding special items ($2.40 to $2.45 per share on a GAAP basis)," said Tellock. "Other financial expectations for 2007 include cash flow from operations at $300 million for the full year; capital expenditures of approximately $80 million; and a tax rate in the 27 to 28 percent range. Looking ahead, we expect to announce our preliminary guidance for 2008 prior to year-end."

Here's another one you might be interested in bjc. i don't feel like starting a new thread on it right now. I love these US companies with big exposure to global and emerging countries. Keeps me from getting overly exposed to actual foreign companies.

FLS - Flowserve Corp. just had another great ER, check it out.

I was just looking earlier to see if I ever started a thread on FLS!  I bought a little bit over a month ago at 75.  I was becoming impatient and almost sold yesterday to buy YHOO.  Thank goodness I didn't..

Are you long FLS?  It's one of my smallest holdings, i sold half a couple weeks ago.  But the EPS and revenue trends are fabulous and the stock should probably have a higher multiple.  I think it should be in triple digits in no time..   Has it been on the IBD 100 anytime lately?  It seems like a stock IBD would tout because of the strong momentum they have in earnings.  I figure they make $5 in the next 4 quarters, and The stock deserves a multiple of at least 20.  Probably 25.  So $125 target..

Karen Finerman talks about the stock often on Fast Money, she'll get some well deserved props tonight.  That's where I learned about the stock..

Yes, I have it. It was #2 or #3 on the IBD. I'll have to check again. Might be #1 after today.

I might add a little FLS if we get a pullback to the low 80s.  That would look good technically for a nice run higher..

Whoops. I blundered on the IBD llisting. It's not on the list all all (yet).

FTK - Flotek was #2 on the list. Earnings on FTK came out yesterday and took huge dive. Rebounding a little today. Maybe FLS will take FTK's place.

MTW has finally broken its downtrend.  It seems we were a bit early, Sully, but I think we'll both be fine.  Unless the global growth story is finished, which I don't believe to be the case by a long shot, then MTW should be just fine!

I'll continue to believe the stock is worth more like $75 until the fundamentals change.

I'm a little bit surprised MTW isn't busting through the 50 ma on one of these bullish, bullish days all across wall street.  The stock was great coming off the 200 ma but isn't raging through the 50 ma like I suspected it might.

I'll plan on continuing to hold, but if it starts going bearish again I may just take a 10% or so loss.  I definitely want it staying above the 20 ema.

I've read concerns that say MTW has such a low valuation based on its growth due its cyclical nature.  But almost everything I've read indicates crane demand will be strong well into the early 2010s.  Keep and eye on MTW, I wouldn't be surprised to see a +3 or +4 one day here and get it right within striking distance of all time highs.

4:55PM Manitowoc raises FY07 EPS above consensus; guides FY08 EPS above consensus (MTW) 43.55 -2.53 : Co raises FY07 EPS to $2.55-2.60 vs $2.50 First Call consensus, up from $2.45-2.50. Co issues upside guidance; co sees FY08 EPS of $3.20-3.40, excluding items, vs $3.10 First Call consensus. Co also gives segment revs data: Co expects that recent Crane segment capacity expansion projects in North America, Europe, and Asia will support 2008 revenue growth in excess of 20% from 2007 levels. Foodservice sales are expected to increase at a percentage rate in the mid-single digits, in spite of industry estimates for slowing sales growth. Revenue from the Marine segment is expected to be flat from 2007 levels as commercial projects and other government contracts replace the high level of production that was required in 2007 to prepare the Littoral Combat Ship for its delivery in the first half of 2008. Sales estimates for all segments exclude the impact of any potential acquisitions.

That ER looks great.  I sold at 44.90 ah two days ago.  I just wanted to reduce my exposure and build a cash position for an occurrence like this.  I sold a bunch of good stocks..MTW should continue to perform well by my estimation.  Looks like it got back all the losses from today, trading a bunch of shares after hours at 46.  If the market performs tomorrow I think it could make a new 52 week high.

Nice move for MTW today.  All time high..wish I had held on.  Hope it hits my target of $75 for you Sully. 

The Manitowoc Company Reports Record Sales and Earnings for Fourth-Quarter and Full Year 2007
Monday February 4, 5:28 pm ET 
- Fourth-quarter 2007 net sales exceed $1.1 billion, an increase of 44 percent from the fourth quarter of 2006
- Fourth-quarter 2007 diluted earnings from continuing operations totaled $0.74 per share, an increase of 111 percent from the fourth quarter of 2006
- Full-year 2007 net sales exceed $4 billion, an increase of 37 percent from 2006
- Full-year earnings per share from continuing operations of $2.68 before special items, an increase of more than 90 percent from 2006 adjusted EPS
- EVA totaled $207 million, an increase of 77 percent from 2006


MANITOWOC, Wis., Feb. 4 /PRNewswire-FirstCall/ -- The Manitowoc Company (NYSE: MTW - News) today reported its financial results for the quarter ended December 31, 2007. For the quarter, the company again set records for net sales and earnings per share as robust global construction activity continues to drive demand for the company's lifting solutions. Net sales for the quarter totaled $1.1 billion, an increase of 44 percent from the fourth quarter of 2006. Reported net earnings per diluted share were $0.76 for the fourth quarter of 2007, more than double the $0.35 for the fourth quarter of 2006.
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Earnings per diluted share in the fourth quarter of 2007 include a $0.02 per share benefit from positive trends in liabilities recorded related to the sale of the company's Manlift business in 2004. There were no special items recorded during the fourth quarter of 2006.

Reported earnings per diluted share for the 12 months ended December 31, 2007 were $2.64, which represents an increase of 100 percent over the 12 months of 2006. Earnings per share from continuing operations before special items for 2007 were $2.68, up 90 percent from 2006. Earnings per share from continuing operations including special items for 2007 were $2.62, up 97 percent from 2006. Per share amounts for all periods reflect the two-for-one stock split on September 10, 2007. A reconciliation of GAAP earnings to earnings from continuing operations before special items for the three months and 12 months ended December 31, 2007 and 2006 is included later in this release.

"The Manitowoc Company's exceptional performance in 2007 is an impressive achievement for which every one of our employees can take credit," said Glen E. Tellock, Manitowoc's president and chief executive officer. "Led by our Crane segment and supported by strong contributions from our Foodservice and Marine segments, our company's focus on delivering world-class products with superior quality and unrivaled after-market support has been the key to our results. In 2008, we will continue to make significant investments to ensure

that we have the capacity, technology, and people to continue to perform at these levels.

"Manitowoc Crane Group continues to serve as our primary growth driver," Tellock said. "Our global network of manufacturing and service facilities allows us to be a preferred lifting equipment provider in both established and emerging markets. Much of our planned 2008 capital expenditures will enable Manitowoc to meet the continued strong demand and provide delivery schedules that our customers require. That combination of global reach and responsiveness has been a key factor in our recent performance, and we will make the necessary investments to maintain our leadership position.

"Our Foodservice and Marine segments also were strong performers, generating increased operating profits for both the fourth quarter and the full year," Tellock said. "The Foodservice segment's new-product pipeline has helped drive improved top-line performance and increased operating leverage. Our Marine segment completed an outstanding quarter and full year due primarily to improved manufacturing efficiencies and strong repair activity."

Business Segment Results

Fourth-quarter 2007 net sales in the Crane segment increased 56 percent to $945.5 million. Operating earnings for the fourth quarter of 2007 increased 83 percent to $141.7 million, from $77.6 million in the same period last year. Backlog totaled $2.9 billion at December 31, 2007, an increase of 8 percent from September 30, 2007 and up 88 percent from the level achieved at December 31, 2006.

"As shown by our growth in sales and backlog, demand for our full line of lifting solutions continues to be strong on a global basis," said Tellock. "Demand in emerging markets is especially strong, and our new manufacturing facilities in India and Slovakia have begun production to help meet this demand. Our discussions with customers coupled with independent market research all indicate that demand for lift solutions will continue to be strong at least through the end of the decade. Demand for civil infrastructure, new energy and petrochemical capacity, and urban development all point to strong longer-term demand for our line of crawler, tower, and mobile hydraulic cranes. Our minimal exposure to the U.S. housing market reinforces our belief that we have ample opportunity for continued growth."

In the Foodservice segment, fourth-quarter 2007 net sales increased 7 percent to $100.4 million from $94.0 million in the fourth quarter of 2006. Operating earnings for the fourth quarter of 2007 were $10.2 million, an increase of 11 percent from the same period in 2006.

"The improved performance in our Foodservice segment reflects a strong focus on maintaining operating leverage in an industry that is experiencing pressures on capital spending," Tellock said. "All three of our Foodservice product lines focused on their competitive strengths to grow revenue and increase margins. Our ice business uses the industry's most advanced designs to provide customers with higher levels of energy savings than any competitor. Our beverage business is following the success of the Flex-Tower with the FlavorPic, a multi-flavor beverage/ice dispenser that is specifically tailored for convenience stores. Our refrigeration business is implementing the last stages of our enterprise resource planning (ERP) system, which should enhance that unit's ability to leverage additional cross-selling opportunities and operating synergies."

Revenue for the Marine segment during the fourth quarter of 2007 was $72.3 million, a decrease of 6 percent from the 2006 quarter. Operating earnings rose 68 percent to $5.7 million from $3.4 million in the fourth quarter of 2006. The improved operating margin stemmed from increased contributions on government and commercial projects as well as an early start to this year's winter repair season.

"The bulk of the Marine segment's improved profitability was driven by outstanding performance on our backlog of commercial projects, particularly the OPA-90 barges. The repeat nature of these projects has created significant operating efficiencies. During the quarter, we delivered our 16th tank barge, and the delivery was well ahead of schedule," Tellock said. "Our backlog of government projects remains solid as well, with work on the Navy's Improved Naval Lighterage System ramping up to offset the delivery of the Littoral Combat Ship FREEDOM later this year. The Navy continues to indicate that the LCS program is an integral factor in its long-range plans and that it is very pleased with the performance of Manitowoc Marine."

Strategic Imperatives

"Much of our success in 2007 can be traced to our strategic priorities," Tellock said. "They keep us focused on value-added activities and motivate us to look for new ways to improve. Our current position is enviable, but our long history has shown that markets change. By adhering to these principles, we can put our company in the best position to succeed both today and tomorrow."

Growth: Our capacity expansion initiatives in the Crane segment are aimed at capturing near-term growth opportunities while minimizing unnecessary costs. We also intend to grow the Crane and Foodservice segments by introducing new products and entering new geographic markets. These growth initiatives will be accomplished both organically and through strategic acquisitions that meet our investment criteria.

Innovate: We have a strong track record of innovation, and our recent launches of the GTK1100 crane and FlavorPic beverage unit are examples that we will continue to use innovation as a competitive advantage. These innovations not only keep our product lines fresh for current customers, but allow the company to enter new markets and geographies. In 2008, we plan to introduce 50 new products worldwide.

Customer Focus: Regardless of which product we provide, our customers all want exceptional value. We deliver that value by partnering with best-in-class suppliers and constantly driving new designs developed from a "voice of the customer" approach that provide greater efficiency and more competitive costs.

Excellence in Operations: Whether it is investments in capacity, equipment, or technology, our initiatives are focused on enhancing operational excellence. In 2008 this will include ERP deployments as well as several capacity expansions. These projects, coupled with ongoing Lean, Six Sigma, and Voice of the Customer initiatives, are all targeted at boosting our productivity, efficiency, and quality.

People and Organizational Development: We support our aggressive growth plans with programs that ensure we have the people and knowledge to continue to grow as a company. Throughout the organization we have implemented formal programs to provide technical and management training, succession planning, and sharing of best practices. Less formal, but no less important, are our everyday efforts to communicate the benefits of being part of the Manitowoc team and our efforts at keeping all employees engaged in meeting our goals.

Aftermarket Support: Crane CARE sets the standard for world-class support in the lifting industry, and our Foodservice and Marine segments are using that same model to create an additional competitive advantage.

Create Value: For the eighth consecutive quarter, all three business segments were positive EVA contributors. For the full-year of 2007, EVA increased more than 77 percent from 2006, well in excess of the 50 percent increase that we had forecast. For 2008, we are again targeting a 50 percent increase in EVA as well as cash flow from operations in excess of $400 million.

2008 Guidance

"We are affirming the current earnings guidance for 2008 earnings per share, excluding any unusual items, of being in a range of $3.20 to $3.40," said Tellock. "This guidance was issued late in the fourth quarter and represents an increase of between 19 percent and 27 percent from our outstanding 2007 results. In addition, given the continued strong outlook in the Crane segment, we are increasing our 2008 capex guidance to approximately $120 million."

Manitowoc Shares Popped: What You Need to Know...

What: Shares of crane-maker Manitowoc (NYSE: MTW) skyrocketed a whopping 20% in intraday trading Tuesday after the company's quarterly results easily topped Wall Street expectations.

So what: Excluding special items, Manitowoc posted fourth-quarter adjusted earnings of $15 million, or $0.11 per share, versus the average analyst estimate of just $0.04 per share. The embattled Manitowoc has struggled massively to pay down its big debt load during the downturn, but today's results seem to be giving investors plenty of hope that the worst is finally behind it.

Now what: I'd wait for a pullback before jumping into Manitowoc. With today's 20% surge, the shares have now more than doubled from the 52-week lows set this past summer and trade at a 25-ish forward P/E. While management believes that the crane segment will post impressive double-digit sales growth in 2011, Mr. Market already seems to be discounting much of that improvement.

Manitowoc, Silicon Motion Technology: Biggest Price Gainers (MTW, SIMO) .
Manitowoc Surges on Upbeat Results



Technicals
Record Price High
Close Above the 13-day EMA
Close Above the 50-day EMA
Most Actives
Record Price Break Out
Gap Up
Percentage Gainer
Price Gainer

Last Price Quote is:
27.03%above 13-day EMA
32.92%above 50-day EMA
RS Rating: 94 

Also the Golden Cross has taken place...
Moved very well off the Double Bottom (reversal) pattern put in.

Materials and Construction Manitowoc Surges on Upbeat Results
By Scott Eden    02/01/11 - 12:16 PM EST

MILWAUKEE (TheStreet) -- Shares of crane-maker Manitowoc(MTW_), which has struggled mightily as demand for its core construction products evaporated during the recession, surged more than 20% Tuesday after the company gave hope to investors in its fourth-quarter earnings release.

Manitowoc, which also makes industrial-size food-service equipment, has labored to pay down more than $1 billion in debt incurred at the peak of the last boom, when it acquired a British manufacturer of food-processing machinery called Enodis.
"We were pleased with the actions taken during the year to diligently manage working capital, amend our credit agreement, and reduce leverage," Manitowoc CEO Glen Tellock said in a prepared statement.
That leverage wouldn't have been so burdensome if it weren't for an almost total collapse of the U.S. commercial construction industry, upon which Manitowoc depends for sales of its massive cranes.
Though the company gave no specific quantitative guidance for 2011, Tellock said: "We are optimistic about the recovery signs we're seeing, and through continued focus on our initiatives and operating objectives, we are looking forward to continued sales and profitability growth in 2011."

In late-morning trading Tuesday, Manitowoc shares were changing hands at $16.09, up 20%, on volume of nearly 9 million shares. Daily turnover averages about 2 million shares. The company released its results after the closing bell Monday.
The sharp rise may have been aided by short covering. Because of Manitowoc's debt concerns, shorts sellers had taken positions in the stock. As of Jan. 14, shorts held 6.7% of the company's float.
Manitowoc said it was encouraged by an upturn in orders toward the end of the fourth quarter. Tellock said the company's dealers were beginning to "replenish their inventories."
The company expects its crane revenue to show percentage growth in 2011 in the low double digits. In the fourth quarter, the crane unit took in revenue of $491 million, up 2.3% from a year ago. Manitowoc said crane backlog totaled $572 million as of Dec. 31, about 28% more than the end of 2009.
Overall in the fourth quarter, Manitowoc continued to spill red ink, posting a loss of $63.8 million, or 49 cents a share, wider than the year-ago loss of $23.5 million, or 18 cents a share.

Excluding charges and other items, Manitowoc said it would have been in the black, with adjusted earnings of $15 million, or 11 cents a share.

The results surpassed Wall Street expectations. On average, sell-side analysts were calling for adjusted earnings of 4 cents a share.
Revenue in the final period of 2010 rose 4% to $831 million from a year ago, which fell short of the $850 million targeted by Wall Street analysts.

Boenning & Scattergood raises their MTW tgt to $24 from $16 saying with management on today's year-end conference call referring to 2010 as a "trough year" for its crane operation and citing strong advances in orders and significant increases in backlogs, they predict that Manitowoc can "earn the years", i.e., produce profits of $1.00 per share in 2011, $2.00 in 2012 and $3.00 in 2013.

Whoa! What Just Happened to My Stock?

Resist the urge to high-five everyone in the cubicles next to you. Your stock may have just strapped on a rocket pack and taken off for the moon, but smart investors won't celebrate until they know that upward leap was justified. Without a fundamental basis for the bounce, these stocks can quickly make the return trip down.

Is now the time to lock in profits, or is this just the first step toward even higher valuations down the road? Let's examine several stocks that just hit the afterburners, and see whether they're truly headed into orbit.

Making it to the big time
After it posted growth in both the cranes and food-service segments of its business, investors bid up Manitowoc's shares. Although some analysts are concerned that it won't be able to maintain the momentum it's generated, Manitowoc seems to be gaining traction where rival Illinois Tool Works (NYSE: ITW) is slipping. The industrial rival reported profits that fell 19% from the year-ago period, and missed the targets analysts set.

Manitowoc has taken the necessary steps to get its debt load under control and will be returning to profitability. The question remains whether the global economy will support growth for this maker of boats and cranes. China still has lots of potential for MTW, as does Mid-East markets, if political unrest and economic factors don't drag things down too far.

You can watch Manitowoc's progress by adding the stock to your watchlist and having all the news and analysis about it gathered in one place.


Day's Range: 17.32 - 18.39
52wk Range: 8.48 - 18.39
Volume: 11,844,941
Avg Vol (3m): 2,312,780
Market Cap: 2.39B
P/E (ttm): N/A
EPS (ttm): -0.23
Div & Yield: 0.08 (0.60%)


Technicals
Record Volume
Record Price High
Close Above the 13-day EMA
Close Above the 50-day-EMA
Percentage Gainer

Last Price Quote is:
inf%above 13-day EMA
inf%above 50-day EMA
RS Rating: 95 

The Manitowoc Company to Participate in Barclays Capital Industrial Select Conference

Press Release Source: The Manitowoc Company, Inc. On Wednesday February 2, 2011, 4:22 pm

MANITOWOC, Wis.--(BUSINESS WIRE)-- The Manitowoc Company, Inc. (NYSE:MTW - News) today announced that it will participate in the Barclays Capital Industrial Select Conference, which will be held at the Ritz Carlton Hotel in Miami Beach, FL. Carl J. Laurino, senior vice president and chief financial officer, and Steve Khail, director of investor relations and corporate communications, will present an update on Manitowoc's strategies and growth initiatives on Wednesday, February 9, 2011, at 2:45 pm, Eastern time.


A live audio webcast of Manitowoc's presentation will be available through the company's website at www.manitowoc.com. In addition, the presentation can be accessed through the following link: http://cc.talkpoint.com/barc002/020811a_lp/?entity=5_BONFHR6


About The Manitowoc Company, Inc.

The Manitowoc Company, Inc. is a multi-industry, capital goods manufacturer with nearly 100 manufacturing, distribution, service, and/or office facilities in 26 countries. It is recognized as one of the world's largest providers of lifting equipment for the global construction industry, including lattice-boom cranes, tower cranes, mobile telescopic cranes, and boom trucks. Manitowoc also is one of the world's leading innovators and manufacturers of commercial foodservice equipment serving the ice, beverage, refrigeration, food prep, and cooking needs of restaurants, convenience stores, hotels, healthcare, and institutional applications.


Contact:
The Manitowoc Company, Inc.Steven C. Khail, 920-652-1713Director of Investor Relations & Corporate Communications

Mixed Results for Manitowoc...

Zacks Equity Research, On Tuesday February 1, 2011, 9:15 am EST

Manitowoc Co. Inc. (NYSE: MTW - News) has delivered an adjusted EPS of 11 cents in its fourth quarter ended December 31, 2010, outperforming the Zacks Consensus Estimate of 4 cents. The company also reversed its prior-year adjusted loss per share of 9 cents.

The EPS reported in the quarter excluded special items viz. loss on early extinguishment of debt of 14 cents and allowance for deferred tax asset valuation allowance of 39 cents. The year-ago EPS excludes the loss on early extinguishment of debt of 4 cents, restructuring expense of 1 cent and loss on sale of product lines of 6 cents. Netting these items, the company reported loss per share from continuing operations of 41 cents in the quarter compared with a loss of 19 cents in the year-ago quarter.

Revenues increased 4.1% year over year to notch $830.9 million, missing nevertheless the Zacks Consensus Estimate of $859 million. The year-over-year improvement was propelled by strong performance across the segments.

Cost and Margin Performance 

Cost of sales increased 2% to $635.6 million in the quarter, but based on revenues, improved 160 basis points to 76.5%. Accordingly, gross profit upped 12% year over year to $195 million and gross margin expanded 160 basis points to 23.5%.

Engineering, selling and administrative expenses increased 6% to $132 million in the quarter and, based on revenues, increased 30 basis points year over year. Manitowoc's adjusted operating income increased 50% to $53.7 million with operating margin growing 200 basis points to 6.5%. Including special items, operating income was $52.8 million, a 68% year-over-year increase and operating margin surged 250 basis points to 6.4%.

Segment Performance

The Foodservice segment recorded a revenue growth of 7% to reach $339 million driven by introduction of new products and continued geographic penetration. The segment's operating income increased 6% year over year to $42 million. However, operating margin of 12.4% reflected a 10-basis point contraction hurt by difficult comparables resulting from a major product rollout that began in late 2009 and continued into early 2010.

The Crane segment registered a 2% climb in revenues grossing $491.4 million mostly owing to strong order rates at the end of the quarter. The segment operating income rose a convincing 66% to $30 million and operating margin expanded 240 basis points to 6.2%. As of December 31, 2010, the segment backlog increased 27% due to a solid ramp-up in demand across all end markets and most product lines.

Fiscal 2010 Performance

Manitowoc's adjusted EPS for fiscal 2010 was 15 cents, a 48% drop from the prior year but above the Zacks Consensus Estimate of 8 cents. Fiscal 2010 EPS excluded special items viz. loss on early extinguishment of debt of 22 cents, restructuring expense of 2 cents, deferred tax asset valuation allowances of 39 cents and other items of 2 cents. The previous year's adjusted EPS excluded asset impairment charge of $4.95, loss on early extinguishment of debt of 5 cents, restructuring expense of 20 cents, loss on sale of product lines of 6 cents and other items to the tune of 3 cents.

Including the above mentioned special items, in fiscal 2010, loss from continuing operations per share was 49 cents versus loss per share of $4.97 in fiscal 2009. Fiscal 2010 revenues dropped 13.2% to $3.14 billion and missed the Zacks Consensus Estimate of $3.3 billion.

Financial Position

As of December 31, 2010, Manitowoc had cash and cash equivalents of $86.4 million, down from $115.9 million as of September 30, 2010 and $106.3 million as of December 31, 2009. During the year, the company generated cash flow from operating activities of $205.3 million, down from $344.4 million in the prior year.

As of December 31, 2010, the debt-to-capitalization ratio worsened to 80.6% from 79.2% as of September 30, 2010. Management remains focused on improving its balance sheet and committed to its debt reduction goal of $200 million in fiscal 2011. By virtue of its divestiture of the Kysor/Warren business in January 2011, the company has paid back more than $1 billion in debt.

Fiscal 2011 Outlook

For fiscal 2011, Manitowoc expects the Foodservice segment to post revenue growth in the high single digits and margins in the mid teens. The company expects revenues at Crane to grow in the low double digits accompanied by improving margins.

The company plans capital expenditure of $70 million and depreciation and amortization of $125 million for fiscal 2011. Interest expenses are expected to be $160 million.

Our Take

Manitowoc holds a strong market position in the Cranes business. After suffering  repeated revenue declines ever since the third quarter of 2008, the segment finally posted positive growth in the current quarter.

Though we see significant long-term growth potential in this market, driven by an increase in global energy consumption and the need for infrastructure upgrade in both the developed as well as developing nations, it remains to be seen whether the segment can sustain its growth revival over the short term.

Furthermore, Manitowoc's high debt level remains a point of concern. We currently have a Zacks #3 Rank (short-term Hold recommendation) on the stock.

Manitowoc is a multi-industry, capital goods manufacturer with over 100 manufacturing and service facilities in 26 countries. It is one of the world's largest providers of lifting equipment for the global construction industry.

It is also a leading manufacturer of commercial foodservice equipment serving the ice, beverage, refrigeration, food preparation and cooking needs of restaurants, convenience stores, hotels, health care and institutional applications. Manitowoc competes with Terex Corp. (TEX) and privately held Altec Industries Inc. and American Panel Corporation.