Manitex International Earnings: Here’s Why the Stock is Rising Now

Manitex International, Inc. (NASDAQ:MNTX) delivered a profit and met Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.89%.

Manitex International, Inc. Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 77.78% to $0.16 in the quarter versus EPS of $0.09 in the year-earlier quarter.

Revenue: Rose 54.6% to $56.52 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Manitex International, Inc. reported adjusted EPS income of $0.16 per share. By that measure, the company missed the mean analyst estimate of $0.16. It beat the average revenue estimate of $51.85 million.

Quoting Management: Chairman and Chief Executive Officer, David Langevin, commented, “2012 was an exciting year of growth for Manitex, despite the continuing challenges of a weak global economy. We turned in record performance for revenues, EPS, EBITDA, backlog and other key metrics, due to solid execution of our business plan across the board. Our investment in new products has already assisted in our growth, with products we’ve developed and launched in the last three years now accounting for nearly 25% of our annual revenues, and we believe these will help drive us further in the future.”

Key Stats (on next page)…