MANITEX INTERNATIONAL Reports 5.7% Increase in Q2 FY2023 Revenue of USD 73.5 Million
August 9, 2023
☀️Earnings Overview
On June 30 2023, MANITEX INTERNATIONAL ($NASDAQ:MNTX) declared their earnings for Q2 of FY2023, revealing total revenue of USD 73.5 million; a 5.7% rise from the same quarter of the year prior. Net income for this period was USD 0.4 million, a 117.7% growth from the same quarter of the prior year.
Analysis
GoodWhale has recently conducted an analysis of MANITEX INTERNATIONAL‘s financials and the results show that this company is a high risk investment. According to GoodWhale’s Risk Rating, there are significant risks associated with the company’s financial and business aspects. These risks include three warning signals detected in the income sheet, balance sheet, and financial journal. Investors looking to invest in this company should definitely check out the GoodWhale website to investigate these warnings further. GoodWhale takes into account many factors when assessing the financials of a company, including liquidity, solvency, profitability, and free cash flow. It also evaluates the company’s debt levels to gauge its ability to pay off debt in the future. In addition, GoodWhale looks at the management of the company, taking into account its business processes and strategies. All of these assessments are taken into consideration when determining a company’s risk rating. Overall, GoodWhale’s analysis of MANITEX INTERNATIONAL’s financials reveals that the company is a high risk investment. As a result, investors should definitely use caution when investing in this company and make sure to check out GoodWhale’s website for further information on the risk warnings it has identified. More…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Manitex International. More…
| Total Revenues | Net Income | Net Margin |
| 285.26 | -2.42 | -0.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Manitex International. More…
| Operations | Investing | Financing |
| 0.26 | -9.37 | -1.71 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Manitex International. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 253.39 | 182.93 | 3.01 |
Key Ratios Snapshot
Some of the financial key ratios for Manitex International are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 12.8% | 46.0% | 2.4% |
| FCF Margin | ROE | ROA |
| -3.4% | 7.0% | 1.7% |
Peers
The company operates in North America, Europe, Asia, and Australia. Manitex International Inc’s products are used in a variety of industries including construction, mining, oil and gas, utilities, and forestry. The company’s primary competitors are Buhler Industries Inc, Groupe CRIT SA, REV Group Inc.
– Buhler Industries Inc ($TSX:BUI)
Buhler Industries Inc. is a diversified industrial company that manufactures and sells agricultural equipment, construction equipment, and other products in Canada, the United States, Europe, and Asia. The company was founded in 1961 and is headquartered in Winnipeg, Canada.
– Groupe CRIT SA ($LTS:0DZJ)
Groupe CRIT SA is a French company that provides staffing and other services. It has a market capitalization of 661.47 million as of 2022 and a return on equity of 9.1%. The company has a network of over 1,000 branches in more than 30 countries. It offers a variety of services, including temporary staffing, permanent placement, executive search, and outplacement.
– REV Group Inc ($NYSE:REVG)
REV Group Inc. is an American manufacturer of specialty vehicles and related aftermarket parts and services. It is headquartered in Milwaukee, Wisconsin. The company designs, manufactures, and distributes vehicles in six vehicle segments: ambulance, fire & emergency, recreational vehicles, bus, street legal golf carts, and other. As of 2020, it operated through a network of over 170 dealers and distributors in the United States, Canada, and Europe.
Summary
Investors may be encouraged by Manitex International’s second-quarter earnings report for FY2023, with total revenue of USD 73.5 million and net income of USD 0.4 million. This represents an impressive 5.7% increase in revenue and a dramatic 117.7% increase in net income from the same quarter of the prior year, indicating that Manitex is continuing to grow and generate strong financial returns. With these results, Manitex International is likely to remain an attractive investment option for those looking for long-term growth in the industrial sector.
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