Manitowoc Company Inc. Bottom Line Retreats 74% In Q3

(RTTNews) - Manitowoc Company Inc. (MTW) revealed earnings for third quarter that dropped compared to the same period last year.

The company said its bottom line totaled $12.8 million, or $0.09 per share. This was lower than $50.1 million, or $0.36 per share, in last year's third quarter.

Analysts had expected the company to earn $0.10 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 12.5% to $863.5 million. This was down from $986.3 million last year.

Manitowoc Company Inc. earnings at a glance:

-Earnings (Q3): $12.8 Mln. vs. $50.1 Mln. last year. -Earnings Decline (Y-o-Y): -74.5% -EPS (Q3): $0.09 vs. $0.36 last year. -EPS Decline (Y-o-Y): -75.0% -Analysts Estimate: $0.10 -Revenue (Q3): $863.5 Mln vs. $986.3 Mln last year. -Revenue Change (Y-o-Y): -12.5%