Manitowoc Announces Pre-2Q Results

Friday, July 11, 2003
The Manitowoc Company, Inc. stated that it expects second quarter earnings to be in the range of $0.30 to $0.35 per share, excluding special charges. The average of published analyst estimates is $0.56 per share. The company also anticipates for the full year, earnings per share to fall in the $0.80 to $1.00 range versus a published analyst average of $1.48.

These estimates reflect ongoing adverse conditions and increased pricing pressure in the company's crane markets. Therefore Manitowoc plans to take special charges of $15 to $20 million, principally for consolidation, restructuring and other actions designed to eliminate excess manufacturing capacity, improve operational efficiency, quickly generate positive cash flow, and enhance future earnings. The bulk of these changes will be recorded in the second quarter, but due to accounting rules, the remainder will be recorded during the balance of the year.

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

New CEO for Evergas

Evergas has appointed Steffen Jacobsen as CEO of the company as of 8 May 2015 Mr. Jacobsen joined Evergas 1 February 2015 as Vice President, Fleet after almost 35 years in Maersk.

NCSP Group Cargo Traffic Up 6% in Q1 2015

Novorossiysk Commercial Sea Port Group (NCSP Group or the Group) (LSE: NCSP, Moscow Exchange: NMTP) reports that Group’s consolidated cargo turnover in Q1 2015 increased by 2 million tonnes or 6.

Naming Ceremony of Evergreen's EVER LYRIC

Evergreen Group today held the naming ceremony for EVER LYRIC, the eighth of its L-type vessels built by CSBC Corporation in Taiwan. The ceremony took place

Finance

Seaspan Takes Delivery of New Containership

Seaspan Corporation (SSW) has accepted delivery of a 14000 TEU containership, the YM Wellhead.    The new containership, which was constructed at Hyundai Heavy Industries Co.

'Make in India’ - the Newbuzzword in Indian Shipping Sector

The Prime Minister Narendra Modi's  'Make in India’ initiative offers a plethora of opportunities in the maritime sector, particularly in shipbuilding, with the

Baltic Index Perks up on Increased Rates for Bigger Vessels

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, edged higher on Thursday as rates for bigger vessels rose.

 
 
Maritime Standards Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2493 sec (4 req/sec)