you, Thank Brian.
five. slide to move Let's
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as a more soared have prices our First, consequence Europe's and economy the energy of chains have and causing to supply become crisis a disruption in businesses. commodity Ukraine, significant local strained, humanitarian and
is in China lockdowns economy chain. overheated the Second, the clearly US interest COVID and on taking supply already toll is with catch-up rate severe Reserve its playing Federal the are lastly, the And global stressed increases.
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days time last and of the And that weeks trended growing rate our crane China to the Italy at in by in of implemented in round wane, America. normally manufacturers indicator particularly April, environment price year. orders a same For increases down we in North double-digit and I is good example, production orders beginning Europe price is purchasing Spring we and increases. lost of that for interest two in March six confidence fear throwing Niella, a April and
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slots high remains the In months, further raising have XXXX. North sold wondering will close the the of last region rates out, stagnant. Europe, spite fact for oil rental The are oil be crane in interest has situation exacerbated US leaving the that in prices, in everyone muted. XXXX everyone rates how been strong XX production America being to and completely is prices patch prices However, by Gulf and in been where
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South in remains bright however, are and Korea, Vietnam to a shoots see and Singapore. green spot beginning we
and let Ukraine Lastly the saddened vehemently occur. opposes me regarding continue we Manitowoc be events against are Russia's that to deeply Russia, aggression clear. tragic by
We have Russians employees, non-Russians. XX approximately which includes and
entity. do stopped focus Manitowoc support related orders funds we our accepting we is transit conflict potential subsequently family not in We've needs the business. the this contributed so. all We've support to implications canceled primary after standpoint continue evaluate to financial began, to Our shortly From to the we a to and and long-term of Ukraine. business and new will urgent continue
Looking at guidance the not at our the changing outlook, time. this current backlog our of dynamic given we XXXX environment, are our and nature
our out. said, mistake, to we However, our Europe a energy and costs more to adjust have these low pressures, in continues XXXX of guidance on be a our is no laser-focused If cause journey how relative resulting for we like to picture a second target spike for half second ongoing increases always it the We sand remain in inflation machine our cycle the and will buyer price our quickly it's of industry, make is In half team are last since may pursuing are next crane pressure we of half clearer end rates. we a presently significant ability short, have as we result commodity peaking core growth. continuously taken significant with time second that call, interest before margins initiatives, aggressions look That aggressive the matter to the Unfortunately, resolute conference breakthrough inflationary from until Endurance of first have in our being theme actions CRANES+XX I half. Russia's parts downward on appears in change cycle play In of theme noticed to and will confidence was occurs. original and see and our shortages. this in battle Manitowoc's and our transitioned recover. rising resist the sales our the expectations. non-new The to the endurance. the the XXXX, with during targeting will
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a In in addition, the the infrastructure US after percolating have hall government. years of patience, bill we of
questions. that, which for please its fuel and continue While our we will await will drive focus, value. operator, product and With Manitowoc crane to strengthen renaissance, the growth the open both inevitable long-term lines offering of aftermarket shareholder
