Manitowoc stock slumped as much as 6% in early-morning trading today after the company reported dismal second-quarter numbers after market close yesterday. While cyclical businesses tend to be volatile, the extent of decline in Manitowoc's crane sales caught investors by surprise. Worse yet, several factors suggest that there could be more pain ahead for the company and its stock.
Take a look at the slideshow below to find out how Manitowoc fared in the last quarter, why it lowered its cranes guidance, and what could hinder its growth going forward.
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The article Manitowoc Delivers a Shocking Quarter: The Worst May Not Be Over Yet originally appeared on Fool.com.
Neha Chamaria has no position in any stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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