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Manitowoc (MTW) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Manitowoc (MTW) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $614M · 2¢ of every $1 of revenue kept as net profit · operating margin 5.2%
Manitowoc made $614M in Q3 2026 (+11% Y/Y): New Machine Sales $440M, Non New Machine Sales $174M. Operating margin 5.2%, net earnings $11.0M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $613.8M in Q3 2026, up 11% year over year and up 3% from the previous quarter. New Machine Sales was the largest line at 72% of revenue. New Machine Sales added $63.7M year over year (up 17%), 105% of the total change. Non New Machine Sales declined 2%.
Gross margin was 19.8%, up 1.3 points from Q3 2025. Operating profit was $31.8M, a 5.2% margin (up 1.8 points year over year). Of the extra revenue versus Q3 2025, 22% reached operating profit, above the 3% margin then. Operating expenses grew 7% against revenue growth of 11%. Net earnings were $11.0M, up 120% year over year. The effective tax rate was 41.5%.
Operating cash flow was −$33.2M. Non-cash charges added back $14.8M of depreciation and amortization and $500K of share-based compensation. Working capital and other items used $59.5M. Capital expenditures of $8.9M exceeded it, leaving free cash flow of −$42.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 4, 2026 | $614M | +11% | 5.2% | $11.0M | −$33.2M |
| Q2 2026 | 10-Q | Aug 7, 2026 | $595M | +10% | 5.2% | $14.2M | $8.0M |
| Q1 2026 | 10-Q | May 6, 2026 | $495M | +5% | 0.6% | −$6.0M | $27.4M |
| Q4 2025 | 10-K | Feb 18, 2026 | $677M | +14% | 3.0% | $7.0M | $91.1M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $553M | +5% | 3.3% | $5.0M | −$14.1M |
| Q2 2025 | 10-Q | Aug 8, 2025 | $540M | -4% | 1.8% | $1.5M | −$67.7M |
| Q1 2025 | 10-Q | May 7, 2025 | $471M | -5% | 1.1% | −$6.3M | $12.9M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Manitowoc
The Manitowoc Company, Inc. (“Manitowoc” or the “Company”) was founded in 1902, and is headquartered in Milwaukee, Wisconsin, United States. Manitowoc, through its wholly-owned subsidiaries, provides high quality, customer-focused lifting products and services world-wide through its Grove, Manitowoc, National Crane, Potain, Shuttlelift, and Upfits by Aspen Equipment brands and its support-focused subsidiary MGX Equipment Services. For more information, visit www.manitowoc.com. The information on our website is not part of this or any other report we file with or furnish to the SEC and is not incorporated herein by reference.
In its own words, from its 10-K, filed Feb 18, 2026.
Manitowoc against its Construction Machinery & Equip peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +25%. Operating margin: 5.2% against the peers' median 6.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MTW Manitowoc | Q3 2026 | $614M | +11% | 5.2% |
| CAT Caterpillar | Q3 2026 | $20.7B | +17% | 20.4% |
| CNH CNH Industrial N.V. | Q2 2026 | $4.8B | +2% | 3.8% |
| CMCO Columbus McKinnon | Q2 FY27 | $539M | +107% | 6.5% |
| AEBI Aebi Schmidt Holding AG | Q2 2026 | $496M | +79% | 5.4% |
| ASTE Astec Industries | Q3 2026 | $352M | +0.7% | -0.9% |
| PLOW Douglas Dynamics | Q3 2026 | $218M | +34% | 14.3% |
| GENC Gencor Industries | Q3 FY26 | $33.8M | +25% | 17.2% |
Source: Manitowoc 10-Q on SEC EDGAR · CIK 61986 · Construction Machinery & Equip
Guidance and outlook
13F: who owns MTW and who is buying
More on MTW
- How Manitowoc makes money: revenue by segment
- Manitowoc next earnings date and what analysts expect
- Manitowoc stock forecast, price target and fair value
- Who owns Manitowoc stock: holders, funds and Congress trades
- Manitowoc guidance and outlook
- Is Manitowoc a takeover target? LBO and rumors
- Manitowoc recalls, complaints and regulation
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results
- Manitowoc guidance history: guided vs reported
- Manitowoc gross margin by quarter
- Manitowoc operating margin by quarter
- Manitowoc net income by quarter
- Manitowoc free cash flow by quarter
- Manitowoc capital expenditures by quarter
- Manitowoc New Machine Sales revenue by quarter
- Manitowoc Non New Machine Sales revenue by quarter