MANITOWOC CO Business Summary

The Manitowoc Company, Inc. (MTW) operates as a leading global provider of engineered lifting solutions, generating revenue through the design, manufacture, and sale of a diverse crane portfolio including mobile telescopic, tower, and lattice-boom crawler cranes. The company’s business model is increasingly defined by its "CRANES+50" strategy, which focuses on expanding high-margin, non-new machine revenue streams such as aftermarket parts, service, rentals, and used equipment sales to mitigate the cyclicality of new machine orders. Its operations are organized into three primary geographic segments: the Americas, which serves as its largest revenue driver; Europe and Africa (EURAF); and the Middle East and Asia-Pacific (MEAP). Within the heavy machinery landscape, Manitowoc competes directly with diversified giants like Caterpillar and Oshkosh Corporation, as well as specialized rivals such as Terex and Liebherr, positioning itself as a pure-play lifting specialist with a strategic emphasis on customer-centric aftermarket growth. Originally founded in 1902 as a shipbuilding and ship-repair firm, the company is currently led by President and CEO Aaron H. Ravenscroft, who assumed the role in 2020 after serving as Executive Vice President of Cranes. The executive team includes Brian Regan as Executive Vice President and CFO, and Jennifer Peterson as Executive Vice President and General Counsel. The leadership is supported by an experienced Board of Directors chaired by Kenneth W. Krueger. Notable recent additions to the board as of January 2026 include Mark B. Rourke, President and CEO of Schneider National, and Randy A. Wood, President and CEO of Lindsay Corporation, both of whom bring deep operational expertise in logistics and industrial infrastructure. This leadership team is focused on a lean transformation and geographic expansion into emerging markets like Chile and Mexico to drive long-term shareholder value.