Manitowoc Company Inc. Q1 Profit Increases, beats estimates

(RTTNews) - Manitowoc Company Inc. (MTW) reported a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $16.5 million, or $0.46 per share. This compares with $3.1 million, or $0.09 per share, in last year's first quarter.

Excluding items, Manitowoc Company Inc. reported adjusted earnings of $16.5 million or $0.46 per share for the period.

Analysts on average had expected the company to earn $0.15 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 10.7% to $508.3 million from $459.0 million last year.

Manitowoc Company Inc. earnings at a glance (GAAP) :

-Earnings (Q1): $16.5 Mln. vs. $3.1 Mln. last year. -EPS (Q1): $0.46 vs. $0.09 last year. -Analyst Estimate: $0.15 -Revenue (Q1): $508.3 Mln vs. $459.0 Mln last year.