Is Manitowoc Company profitable in 2026?

Barely. FY2025 adjusted net income was just $7.2M on $2.24B net sales, down about 87% year over year. Q1 2026 posted an actual net loss of $6.0M despite orders rising 5.8% YoY, showing tariff and cost pressure are outweighing revenue growth as of May 2026.

Could AI replace jobs at Manitowoc?

Unlikely for core work. Manitowoc's crane manufacturing, rigging, and safety-critical assembly are physical and safety-certified, not AI-replaceable. The company uses AI only in back-office and field-service tools like ServiceMax AI (GA February 2025) and says it integrated AI into operational processes per its Q1 2025 call, with no quantified productivity impact disclosed.

Who is Manitowoc's biggest competitor?

Liebherr and Tadano are its closest peers in mature markets, per a June 2026 Vertikal.net industry review naming Liebherr, Manitowoc/Grove, and Tadano as the leading all-terrain crane makers. Chinese manufacturers Zoomlion, SANY, and XCMG are gaining share in emerging markets, prompting Manitowoc's own trade complaints.

Who owns Manitowoc Company?

Manitowoc (NYSE: MTW) is publicly traded with no parent company. Institutional investors held roughly 78.7% of shares as of May 2026, per MarketBeat. It became a standalone crane manufacturer after spinning off its foodservice division, later Welbilt, in March 2016.

What is Manitowoc's stock outlook in 2026?

Bearish among analysts. As of July 23, 2026, MarketBeat reported a consensus 'Strong Sell' rating with a price target of $10.33 to $10.50, well below the roughly $13 to $14 trading price, despite backlog growth and a favorable anti-dumping ruling that same week.

Is Manitowoc at risk from Chinese crane manufacturers?

Yes, in emerging markets. Zoomlion, SANY, and XCMG are gaining share in Southeast Asia through lower pricing and local manufacturing, prompting Manitowoc to file a European trade complaint against Chinese mobile-crane imports, reported November 18, 2025, and to pursue similar U.S. trade protections.

Manufacturing companies · United States

Manitowoc Company, Inc.

manitowoc.com ↗

Manitowoc builds mobile, tower, and crawler cranes for construction and industrial lifting worldwide.

Protection under test

Assessed 24 July 2026 · Evidence as of 24 July 2026

Something worth protecting exists and is being tested right now.

On the recordSince 24 July 2026 · Checkable from August 2026 · Every call on the record Checkpoint: Q2 2026 earnings release and EU anti-dumping ruling on Chinese mobile cranes

The call

Orders and backlog are climbing, but margins stay razor thin, leaving Manitowoc's protection against China and cyclicality intact but unproven at scale.

Manitowoc is a 124-year-old company that builds and sells cranes used in construction and heavy industry around the world. The company is hard to replace because customers stick with its equipment after buying it, trust its brand and safety record, and a recent trade rule through July 2026 blocks cheap Chinese cranes from flooding the market. However, the company is making almost no profit right now (less than half a penny per dollar of sales), and costs like tariffs and ups-and-downs in the construction business keep squeezing what little money it makes, even though it has lots of orders waiting to be filled. What matters most: whether the company can turn all those waiting orders into actual money and real profits when results come out in mid-August 2026, and whether a new trade complaint in Europe could change the competitive picture.

Why

AI pressure: AI-driven telematics and predictive-maintenance platforms (e.g. Trackunit-style fleet software). Smarter fleet software could let owners predict maintenance and source parts elsewhere, chipping at Manitowoc's high-margin aftermarket business. Could AI do the core job? Unlikely.

Bigger players: Zoomlion, SANY, and XCMG (Chinese crane makers). Lower-cost Chinese cranes are already selling into Southeast Asia and emerging markets, pressuring Manitowoc outside its home turf. Could a giant copy it? Probably.

What protects it. A large installed fleet locks owners into Manitowoc parts and service, plus safety certification and new anti-dumping tariffs on Chinese imports.

What would change this call

EU anti-dumping ruling on Chinese mobile-crane imports, decision pending. A favorable ruling would extend trade protection Manitowoc already has in the US to its second-largest market.
Manitowoc's Q2 2026 earnings print, expected around Aug 6-12, 2026. Shows whether adjusted EBITDA margin is recovering toward the 8-10% range or staying compressed.
Cranes+50 non-new-machine revenue reported in coming quarterly filings versus the $1B five-year target. Indicates whether aftermarket lock-in is actually growing fast enough to offset thin new-crane margins.

Key numbers

Q1 2026 backlog hit $939.9M, highest in two years (2026-05-06)
FY2025 net sales $2.24B but adjusted net income just $7.2M (2026-02-09)
Aftermarket sales hit record $690.5M, targeting $1B (2026-02-09)

Named risks

Thin and volatile margins, including a Q1 2026 net loss of $6.0M despite order growth. Severity: high
US Section 232 steel tariffs and trade-policy shifts pressuring costs and demand through 2026. Severity: high
Chinese manufacturers Zoomlion, SANY, XCMG gaining share in emerging markets via lower pricing. Severity: medium
Analyst consensus Strong Sell with price target well below trading price signals possible re-rating risk. Severity: medium
Executive turnover, including EVP of HR resignation effective March 2026. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Zoomlion, SANY, XCMG	losing to	Chinese makers gaining share in Southeast Asia, prompting Manitowoc EU trade complaint reported Nov 18, 2025
Liebherr	contesting	Named alongside Manitowoc/Grove and Tadano as leading all-terrain crane makers, Vertikal.net, June 2026
Tadano	contesting	Co-leader in all-terrain crane segment per June 2026 Vertikal.net industry review

Questions people ask

Is Manitowoc Company profitable in 2026?: Barely. FY2025 adjusted net income was just $7.2M on $2.24B net sales, down about 87% year over year. Q1 2026 posted an actual net loss of $6.0M despite orders rising 5.8% YoY, showing tariff and cost pressure are outweighing revenue growth as of May 2026.
Could AI replace jobs at Manitowoc?: Unlikely for core work. Manitowoc's crane manufacturing, rigging, and safety-critical assembly are physical and safety-certified, not AI-replaceable. The company uses AI only in back-office and field-service tools like ServiceMax AI (GA February 2025) and says it integrated AI into operational processes per its Q1 2025 call, with no quantified productivity impact disclosed.
Who is Manitowoc's biggest competitor?: Liebherr and Tadano are its closest peers in mature markets, per a June 2026 Vertikal.net industry review naming Liebherr, Manitowoc/Grove, and Tadano as the leading all-terrain crane makers. Chinese manufacturers Zoomlion, SANY, and XCMG are gaining share in emerging markets, prompting Manitowoc's own trade complaints.
Who owns Manitowoc Company?: Manitowoc (NYSE: MTW) is publicly traded with no parent company. Institutional investors held roughly 78.7% of shares as of May 2026, per MarketBeat. It became a standalone crane manufacturer after spinning off its foodservice division, later Welbilt, in March 2016.
What is Manitowoc's stock outlook in 2026?: Bearish among analysts. As of July 23, 2026, MarketBeat reported a consensus 'Strong Sell' rating with a price target of $10.33 to $10.50, well below the roughly $13 to $14 trading price, despite backlog growth and a favorable anti-dumping ruling that same week.
Is Manitowoc at risk from Chinese crane manufacturers?: Yes, in emerging markets. Zoomlion, SANY, and XCMG are gaining share in Southeast Asia through lower pricing and local manufacturing, prompting Manitowoc to file a European trade complaint against Chinese mobile-crane imports, reported November 18, 2025, and to pursue similar U.S. trade protections.

Timeline

2026-05-06Q1 2026 results: net sales $494.6M, net loss $6.0M, backlog $939.9M, highest in two years
2026-03-26EVP of Human Resources James S. Cook resigns effective this date per 8-K filing
2026-02-09FY2025 results reported: net sales $2.24B, adjusted net income $7.2M; FY2026 guidance issued
2026-01Restructuring plan announced targeting about $10M in annualized savings
2025-11-18Reported that Manitowoc filed/joined EU trade complaint against Chinese mobile-crane imports
2025-02-12ServiceMax AI, an agentic AI field-service assistant used by Manitowoc's vendor stack, goes generally available
2024-09Manitowoc raises $300M via post-IPO debt round
2016-03Manitowoc spins off its foodservice division, later Welbilt
1902Company founded in Manitowoc, Wisconsin as a shipbuilder

Revision history

24 July 2026

First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.

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