Pandemic affects Manitowoc’s second quarter financials
06 August 2020
Manitowoc reports a second quarter loss due to a decline in sales and reduced manufacturing activity.
The Manitowoc Company reported a second-quarter net loss of US$12.7 million, or $0.37 per diluted share. Second-quarter adjusted net loss of $16.2 million, or $0.47 per diluted share, declined $49.7 million year-over-year.
Net sales in the second quarter of 2020 decreased 35 percent, year-over-year to $328.3 million. The Covid-19 pandemic…