Shares of Manitowoc Co., Inc. (MTW) are up 14 percent on Tuesday morning trade after the company reported fourth-quarter net sales of $621.6 million, which grew from $497.8 million in the previous year.
Looking ahead to the full year 2023, the company expects adjusted earnings in a range of $0.35-$1.15 per share, while analysts are targeting $0.52 per share.
The company projects full-year net sales of around $2.0 to $2.1 billion, higher than analysts' estimate of 1.94 billion.
Currently, shares are at $16.32, up 13.61 percent from the previous close of $14.36 on a volume of 342,201.
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