After Caterpillar's (NYSE: CAT ) dour third-quarter numbers and outlook, who
could have expected a construction equipment company that's a tiny fraction of
Caterpillar's size to trump Street estimates and deliver solid top-line growth?
For the second-straight quarter, Manitowoc (NYSE: MTW ) outperformed the industry leader, and its
quarterly performance ranked among the best in the construction equipment
space. That should compel every investor to think: What's the secret behind
Manitowoc's resilience even in these difficult times? Let's figure out.
Manitowoc's crane sales rose 10% during the third quarter even
as Caterpillar's construction equipment sales dropped 7% year over year. Thank
Manitowoc's geographic mix for its higher revenue. Manitowoc gets more than
half its sales from the North American market, which is a blessing in disguise
in present times when key global markets are slowing down. Read more.
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