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MILWAUKEE - Grove US LLC, a subsidiary of The Manitowoc Company, Inc. (NYSE:MTW), a crane manufacturer with a market capitalization of $462 million and impressive year-to-date gains of 43%, has received Cybersecurity Maturity Model Certification (CMMC) Level 2 with a perfect 110 score, according to a company press release.
The certification comes after the new, more stringent CMMC rule went into effect on December 16, 2024. Manitowoc reports it is among a small percentage of companies currently compliant with these enhanced requirements.
The CMMC framework, developed by the U.S. Department of Defense (DoD), aims to strengthen protection of Controlled Unclassified Information throughout the Defense Industrial Base. The certification has become mandatory for contractors seeking to do business with the DoD.
The certification process evaluates defense suppliers’ ability to protect sensitive data from cyber threats, which the DoD considers essential for maintaining national security.
The Manitowoc Company, established in 1902, manufactures and markets mobile hydraulic cranes, lattice-boom crawler cranes, boom trucks, and tower cranes under various brand names including Grove, Manitowoc, National Crane, and Potain.
In other recent news, Manitowoc Company Inc reported its Q1 2025 earnings, which fell short of analyst expectations. The company posted an earnings per share (EPS) of -$0.16, missing the forecasted EPS of -$0.07. Additionally, Manitowoc’s revenue for the quarter was reported at $471 million, slightly below the anticipated $481.39 million. Despite these results, the company experienced a positive investor sentiment. This development follows the earnings release and highlights ongoing investor interest in the company. The financial figures underscore the challenges Manitowoc faces in meeting market expectations. These recent developments are crucial for investors evaluating the company’s performance. Such financial results can influence future investment decisions and analyst ratings.
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