Published on 29 Feb 2024 on GuruFocus.com via Yahoo Finance

Manitex International Inc (MNTX) Reports Solid Q4 and Full-Year 2023 Results

Revenue: Q4 net revenue holds steady at $78.7 million; Full-year revenue rises to $291.4 million.Net Income: Q4 GAAP Net Income surges to $5.2 million; Full-year net income reaches $7.4 million.Adjusted EBITDA: Q4 Adjusted EBITDA at $8.0 million; Full-year Adjusted EBITDA climbs to $29.6 million.Gross Margin: Q4 gross margin improves to 20.9%, a 162 basis point increase year-over-year.Backlog: Year-end backlog stands at $170 million, providing strong visibility into 2024.Leverage: Net leverage ratio reduced from 3.9x to 2.9x year-over-year.Liquidity: Total liquidity at approximately $31 million, supporting growth initiatives.

Warning! GuruFocus has detected 5 Warning Signs with MNTX.

On February 29, 2024, Manitex International Inc (NASDAQ:MNTX) released its 8-K filing, detailing the financial outcomes for the fourth quarter and the full year of 2023. Manitex, a leading provider of truck cranes and specialized industrial equipment, reported a steady Q4 net revenue of $78.7 million and a significant increase in full-year revenue to $291.4 million. The company's strategic initiatives, including the Elevating Excellence strategy, have led to a nearly 40% growth in full-year Adjusted EBITDA and a notable improvement in gross margin.