Manitex International, Inc. (MNTX)

[ofspring]

#54 Manitex International

MARKET CAP$155 MillionAs of October 2014

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INDUSTRYHeavy EquipmentDavid LangevinBridgeview, Illinois

Manitex International on Forbes Lists#54 America's Best Small Companies

Manitex International, Inc. provides engineered lifting solutions including cranes, rough terrain forklifts, reach stackers and container handling equipment and special mission oriented vehicles. The company operates through two segments: Lifting Equipment and Equipment Distribution. The Lifting Equipment segment designs, manufactures, and distributes boom trucks and crane products that are primarily used for industrial projects and energy exploration, as well as for infrastructure development, including, roads, bridges, and commercial construction; and specialized rough terrain cranes and material handling products for the construction, municipality, and railroad industries

[ofspring]

It should be up more imo... The last few weeks its been manipulated in the morning. .. Don't get this

[detearing]

MNTX now in the green...but what a ride, eh?

[ofspring]

This is bs how manipulative Manitex is... Markets go up Manitex goes down I dont even think they do business in China. .. I have to look and see maybe they do still bs...

[ofspring]

Looks like shorts are here today not for long...
http://shortsqueeze.com/?symbol=MNTX&submit=Short+Quote%99

[ofspring]

I took a tour a few weeks ago thru Iowa and lower Minnesota and saw Titan Machinery dealers stocked up with skid loaders TITN sells TEX ASV skid loaders and now MNTX as well .. They must be selling a lot to add on the ASV lines... I have been saying the construction has been really busy in the Midwest for awhile now on both ends..

[ofspring]

Manitex International, Inc. Announces Expansion of ASV Product Line and Distribution Update

By

Published: Aug 18, 2015 10:00 a.m. ET

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New Line of Skid Steer Loaders and New Compact Track Loader Model Are Simultaneously Introduced

BRIDGEVIEW, IL, Aug 18, 2015 (Marketwired via COMTEX) -- Manitex International, Inc. MNTX, +1.53% a leading international provider of cranes and specialized material and container handling equipment, today announced that ASV, its joint venture with Terex Corporation, has recently launched a completely new line of Skid Steer Loaders and has simultaneously expanded its existing line of Compact Track Loaders. The Company also announced that plans to reactivate the ASV dealer network have been successful, with ASV dealer count now up to approximately 50 locations, from zero at the beginning of the year. It is expected that this count will grow to 85 locations actively selling the product in the second half of 2015.

Jim DiBiagio, General Manager of ASV, commented, "We continue to introduce new products to the market as a result of our commitment to innovating and providing our customers with great products that address their needs. Although our skid steer loaders are new to the ASV brand, they represent many years of ongoing product development and field use though our various industry affiliations. We expect their reliability, productivity and customer acceptance to be high from the very start. Our new RT-75 Compact Track Loader is an exciting new part of our rubber-tracked product line which is already gaining traction in this expanding market.

"In the second quarter of 2015 we made significant progress in re-launching the ASV branded distribution network and we anticipate continued expansion of dealer coverage throughout this year and beyond. While there is a seasonality to this business in many of the areas we serve due to construction schedules slowing in winter months, dealers are enthusiastically welcoming in this product expansion. With the product launch, and the rising dealer count, ASV is positioned for future growth in this growing product category," concluded Mr. DiBiagio.

The ASV brand was re-launched in June of this year when ASV introduced three new ASV-branded Compact Track Loaders. ASV was one of the early developers of Compact Track Loaders and holds many patents for the proprietary design of its successful PosiTrack Loaders and unique rubber track undercarriages which originated in the late 1980s. The new model just introduced, the RT75, is the fourth in their Compact Track Loader line. ASV's newly introduced Skid Steer Loader product line also consists of four models. Skid Steer and Compact Track Loaders are primarily used in agricultural, light commercial and residential construction markets. Whereas skid steer loaders ride on rubber tires and are often used on improved surfaces, compact track loaders ride on rubber tracks and work better on soft, fragile or difficult surfaces. The new products are set to be manufactured at their manufacturing and assembly plant in Grand Rapids, Minnesota, and distributed through the new ASV distribution network under development in North America.

Industry sources (Yengst Associates) report that during 2014, over 37,000 skid steer loaders were manufactured for North American users and compact track loaders are expected to account for over 30,000 units manufactured for the North American market during 2015.

[BostonBull1990]

Love the news today about expanding their ASV line with Terex

[BostonBull1990]

Do you think there's a chance Terex and Konecranes make an offer to buy (at least some) of MNTX?

[BostonBull1990]

Considering the markets are taking a beating today, I'm very pleased MNTX has been green most of the day! Hoping we start to get support around 7.00 and start moving toward 8.00

[ofspring]

Full range of product for H2-2015 (skid steer and compact track loaders) oNew ASV dealer sign-ups accelerating into second half of the year. ?6/30/15 Backlog of $97.5 million (12/31/14, $107.3 million; 6/30/14, $102.5 million): o Broad based order book: ASV 13%, PM 18% both increases quarter over quarter, Manitex 69% oMilitary orders for second half of 2015 shipments included

[ofspring]

Thats alright we got a upgrade from Roth... Just thought I should post since we have Tex as well...

[BostonBull1990]

I was hoping that Terex news bumped MNTX north today!

[ofspring]

Big news with TEX today remember Manitex now owns 51% of ADV and Terex owns 49% of ASV. MNTX
Getting interesting in heavy equipment crane boom sector...

Terex and Konecranes to Combine in an All-Stock MergerDate :08/11/2015 @ 2:00AMSource :Business WireStock :Terex Corp. (TEX)Quote : 21.83  0.99 (4.75%) @ 8:00PM

Terex and Konecranes to Combine in an All-Stock Merger

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Alert

Terex (NYSE:TEX)
Intraday Stock Chart

Today : Tuesday 11 August 2015

Combination of Two Highly Complementary Businesses to Create a Global Leader in Lifting & Material Handling Solutions

Creates an industry leader with expected $10.0 billion in pro forma 2014 revenueResults in a stronger more competitive global lifting and material handling companyExpected to be accretive to both companies' shareholders in first full yearIdentified annual after-tax synergies of at least $119 millionNew Company plans to authorize a $1.5 billion share repurchase and initial annual dividend of approximately $1.15 per share

Terex Corporation (NYSE:TEX) ("Terex") and Konecranes Plc (Helsinki: KCR1V.HE) ("Konecranes") today jointly announced that their respective Boards of Directors have unanimously approved a definitive business combination agreement and the resulting all-stock merger of equals.

Konecranes and Terex will combine to create a single company with estimated pro forma 2014 revenues and EBITDA of $10.0 billion and $845 million, respectively. Upon completion of the transaction, Terex shareholders will own approximately 60% of the combined company and Konecranes shareholders will own approximately 40%. The new company will be named Konecranes Terex Plc and will be incorporated in Finland.

Compelling Strategic Rationale

The combination will bring together two complementary leaders in cranes, materials handling, and equipment servicing solutions to create a premier industrial company. The combined company is expected to create enhanced shareholder value in a variety of ways, among them:

Increased global scale with enhanced competitiveness to rival low-cost emerging market players;Broader presence in key sectors with greater opportunity to capitalize on growth trends in the port and industrial sectors as well as services;More robust portfolio of complementary products and customer solutions;Critical scale for further technology development and enhanced R&DSignificant operational and corporate synergies and complimentary geographic profiles; andStrong balance sheet and cash flow generation to support growth and return of capital to shareholders

Terex CEO Ron DeFeo commented “This merger brings together two great businesses and through synergies provides another lever that is within our control to deliver value-creation to both the shareholders of Terex and Konecranes. We have a deep respect for Konecranes and look forward to joining forces with them to build a stronger and more diverse company that will be in an excellent position to succeed in a dynamic and highly competitive global industry.”

"The combination of Konecranes and Terex is a defining step in the history of both companies," added Stig Gustavson, Chairman of Konecranes. "With a focus on Lifting and Material Handling solutions, Konecranes Terex will be in an excellent position to deliver enhanced growth in revenue and margins through several strategic advantages, including significant cross-selling opportunities. There is a common culture between the two organizations, with both companies having long histories of designing competitive and innovative solutions. Together, we will have the opportunity to expand what Konecranes and Terex have built and become even stronger in the future

[ofspring]

Manitex International Earns Buy Rating from Roth Capital (MNTX)

http://www.tickerreport.com/banking-finance/706891/manitex-international-earns-buy-rating-from-roth-capital-mntx/

[ofspring]

http://www.manitexinternational.com/pdf/MNTX_Q2_2015_EarningsPresentation%20FINAL%2008052015%20.pdf

[detearing]

Yep...solid. mntx

[BostonBull1990]

Another good day!

[ofspring]

Green MNTX. ..

[BostonBull1990]

On Etrade it shows market edge upgraded MNTX from avoid to hold

[detearing]

I believe in what I see...and I see solid production and upside. MNTX

[ofspring]

It's luck getting the bottom but this company is a good company the merges kicked in the debt paid down no insiders sells got great team here and its diversified. .. I am long with Manitex I really think teens will be back... The analysis might have been right short-term but not long and they dont even give a hint on when to get in on the bottom that what you call street's smart... Nice job Detearing. ..

[BostonBull1990]

Let's run again today! Can easily see this back in the 8s by the end of month, IMO!

[detearing]

Loved it...so glad I bought near today's bottom. Aw shucks, had some luck.

[ofspring]

Feels good wanted a buck past $7. Will get there Surprise surprise the market liked the report... Let's keep it going MNTX. .

[detearing]

UP Chuck...for sizzle...15% loving this MNTX

[ofspring]

Lets push
a buck MNTX...

[bar1080]

But the dip to $5.75 was on July-27th?

[detearing]

MNTX $7.03...long ways up from $5.75

Yes, I like it. I like it a lot.

Well pps tanked to $5.75 and I bought a lil' more.

[ofspring]

You got it the debate and Manitex. ..

[detearing]

Well, I am glad I bought the dip...hoping this don't slip...so I can skip and cheer all day...later a beer to watch the debates...MNTX give me a green lift here today...horay

[ofspring]

Its great to have top of line ceo and management at Manitex. . It would have been a disaster if they didn't diversify. .. I think we should be heading up from here revenues kicked in from the merges debt paid down all looks good...

[detearing]

Well pps tanked to $5.75 and I bought a lil' more.

[BostonBull1990]

I'm actually pretty happy with these results

[ofspring]

Cash went up 6,3 from 4,3... That's good also

[ofspring]

Hope so too get out of this rut..

[detearing]

That's what I am looking at...the other numbers are not as good as last year but they repaid this debt...to me looks like we will go up tomorrow...cross your fingers.

[ofspring]

ASV finally kicked in...
Chairman and Chief Executive Officer, David Langevin, commented, “While the unprecedented downturn in the energy market continues to challenge us to preserve our margins, our long-term strategy to build a diversified portfolio of niche products as a market leader has enabled us to withstand the pressure of the sales decline that we’ve seen throughout the boom truck industry. As a result of our recent PM acquisition and our recent ASV joint venture, our sales and EBITDA have reached a higher level than ever before, and we continue to pursue our plan to emerge from current headwinds in the industry with a stronger balance sheet, higher margins, and greater earnings power than ever in our company’s history. While the boom truck demand picture has been quite subdued for several quarters, we remain optimistic and prepared for a turn in the cycle and the demand for our products that it will bring.

“Our acquisition of PM Group in January 2015 marked our expansion into the growing knuckle boom crane market, and with revenues of over $23 million for the second quarter, compared to approximately $16 million in the first quarter, and with EBITDA contribution in the second quarter of 10% of sales, PM already represents a solid contributor to the value of our Company. Further, as stated in our first quarter release, we continue on the path of integrating PM production with our North American crane production facilities as well as aligning the PM products with our core North American sales and marketing channels. This initiative will make our PM knuckle boom crane the most complete product range of its kind made in the USA, and give us a strong competitive edge. Finally, ASV, our venture with Terex Corporation, contributed $32 million in sales for the current quarter with EBITDA margins above our historical corporate average. These two new product areas were significant contributors to our Company’s financialperformance thus far this year, and we remain excited about their contribution going forward.

[ofspring]

Repaid $5.2 million of term debt in the quarter, to bring total term debt payments in 2015 to $8.0 million and total debt reduction of $18.1 from year end 2014 adjusted for acquisitions

[ofspring]

Nice looks good....

Segment operating income excludes corporate expenses and inter-segment eliminations of profit in inventory

Net revenues for the three months ended June 30, 2015, increased $37.2 million or 54% year over year, with lifting equipment increasing $5.4 million or 8.3%, Equipment Distribution decreasing $0.5 million or 10.6% and the ASV segment contributing $32.2 million of the increase. Total net revenues were lower by $10.2 million due to the impact of currency translation with a stronger U.S. dollar compared to the second quarter of 2014. The Lifting segment included the benefit of $23.2 million of sales from the recently acquired PM Group, without which revenues would have decreased $17.8 million or 27%.

For the three months ended June 30, 2015, operating income of $4.6 million included approximately $0.4 million of acquisition related expense. Without these costs, adjusted operating income was $5.0 million or 4.7% of sales, and compared to $5.2 million and 7.6% for the comparable period of 2014. Gross margin adjusted for acquisition expense was 18.8% of sales compared to 19.2% for the second quarter of 2014. The reduced gross margin arose from the reduced volume of crane sales and increased proportion of lower capacity of boom truck cranes was partially offset by the addition of higher margin PM crane product and stronger margins from other products, including a stronger performance from container handling equipment. A favorable impact compared to the prior year was also derived from our cost reduction project announced towards the end of 2014, which is a high priority for the Company. SG&A costs for the quarter, adjusted for acquisition related expenses of $0.1 million, were 12.1% of sales for the quarter. The impact of currency translation with a stronger U.S. dollar compared to the second quarter of 2014 decreased operating income by $0.3 million

[detearing]

http://www.marketwatch.com/story/manitex-international-inc-reports-second-quarter-2015-results-2015-08-05

5.1M short term debt paid. 18M this year.

[ofspring]

Missed analysis got look some more.. A ton of debt paid off???

[detearing]

Well they paid off a ton of debt...not sure about the other numbers at first glance....

[ofspring]

Surprise surprise is what I want to see from MNTX. .. Come on Manitex! !!!!!

[detearing]

I think so. I love their products...quality.

[ofspring]

It will be gold someday. .

[detearing]

I have mtw cat mntx in this sector...cat hurt by china issues...I am holding for gold.

[ofspring]

I am kinda split how the earnings will be... de cat mtw tex all show weekness titn cnhi showing spark in the markets mntx needs to show good numbers..jmo

[detearing]

Good luck to us.

[ofspring]

Me too still holding. ..