Manitowoc (NYSE:MTW) competes in just two broadly-defined markets, construction cranes and foodservice equipment. Unfortunately, these are not especially strong times for either market. Although Manitowoc was not bubbling over with optimism in its latest quarterly report, the Street was nevertheless very encouraged by what it heard. Even though this stock jumped more than 20% in the wake of its third quarter report, investors can still expect more to come from this small industrial stock.
Signs of Progress in Q3
Overall revenue rose 16% this quarter, with growth in the crane segment leading the way at 21%. Although slower, foodservice revenue growth of 10% was hardly terrible. Manitowoc management doesn't go as far into specifics as investors might like, but they did say that crane demand in the Americas was strong; not much of a surprise, really, considering the growth in markets like Brazil.
Read the full article here:
http://stocks.investopedia.com/stock-analysis/2011/Manitowoc-Has-More-Room-To-Grow-MTW-TEX-CAT-DE-ITW-DOV-PNRA-ETN-MIDD1031.aspx
No comments:
Post a Comment