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Manitowoc Company reports quarterly profits fell 6.3%

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MANITOWOC, WI (WTAQ) - The Manitowoc Company saw its quarterly profits go down by 6.3 percent in the last quarter.

The firm said its construction crane sales grew in the U.S., but the gains were offset by lower demands in Europe and Asia.

Manitowoc reports a net income of about $22 million from July through September. That’s down by $1.5 million from the same period a year ago. Earnings fell by a penny a share, to 17 cents. Total sales rose 2.2 percent to about $956 million.

The Manitowoc Company makes cranes and food service equipment. CEO Glen Tellock said his firm had several notable positives in its last quarter despite, “lingering uncertainty and continued pressure in the macro-economic environment.”

Total crane sales grew almost 5 percent from the third quarter of last year. 

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