In a generally still-healthy construction market, Manitex (MNTX) seems to be doing okay. The first quarter was maybe not quite as robust as some investors may wish to see on the revenue and order lines, but the margin progress was encouraging, and the overall environment for construction-related machinery still seems fairly healthy in North America. A key challenge, and opportunity, for Manitex management remains in the acceleration of the PM knuckle boom crane business, a machinery category that is relatively under-utilized in North America relative to Europe.
Manitex’s better-than-expected gross margin was nice