Manitowoc Q1 Profit From Cont. Ops. Declines - Quick Facts

(RTTNews) - The Manitowoc Company Inc. (MTW) reported a first-quarter loss of $8.8 million, or $0.06 per share, compared to profit of $10.4 million, or $0.08 per share, in the first quarter of 2013. Earnings from continuing operations decreased to $6.0 million or $0.01 per share, from $13.8 million or $0.10 per share. Excluding special items, adjusted earnings from continuing operations was $23.7 million, or $0.17 per share, in the first quarter of 2014.

On average, 17 analysts polled by Thomson Reuters expected the company to report profit per share of $0.20 for the quarter. Analysts' estimates typically exclude special items.

Sales decreased to $850.0 million from $894.6 million. Analysts expected revenue of $908.89 million for the quarter.

The company reaffirmed its full-year guidance for 2014.