Financial Performance - Net sales decreased by 6% to $242.3 million, impacted by Hurricane Helene and project timing [2] - Gross profit fell to $74.7 million, a decrease of 25.2%, with a gross margin of 30.9% [5] - GAAP EPS reported at ($0.52), while adjusted EPS was $0.70, a decrease of 7.9% year-over-year [5] - Net sales for Q2 FY25 decreased by 6.2% to $242,274,000 compared to $258,400,000 in Q2 FY24 [12] - Income from operations dropped significantly by 67.6% to $10,805,000, resulting in an operating margin of 4.5% [12] - Net loss for the quarter was $15,043,000, compared to a net income of $15,813,000 in the same quarter last year [12] - The company experienced a net loss of $6.4 million for the six months ended September 30, 2024, compared to a net income of $25.1 million for the same period in the previous year [16] - Net income for Q2 FY25 was $(15,043), compared to $15,813 in Q2 FY24, indicating a significant loss [29] - Net income for the twelve months ended September 30, 2024, was $15,123,000, a decrease from $51,012,000 for the same period in 2023 [35] Orders and Backlog - Orders increased by 16% with a book-to-bill ratio of 1.08x; precision conveyance orders rose by 42% [2] - The company reported a 16% growth in orders for Q2 FY25, indicating strong demand despite revenue decline [13] - Columbus McKinnon reported a 16% order growth in Q2 FY25, with net sales of $242.3 million for the quarter [18] - The backlog as of September 30, 2024, was $317.6 million, slightly down from $317.7 million a year earlier [22] - Long-term backlog as a percentage of total backlog increased to 54.3% from 46.7% year-over-year [22] Debt and Financial Health - The company repaid $10 million of debt in Q2 FY25, anticipating total debt repayment of $60 million for FY25 [2] - Total liabilities reduced to $880,754,000, down from $943,882,000, indicating improved financial health [15] - Total debt decreased to $500,614,000 from $564,841,000 in the previous year [35] - Net debt was reported at $460,623,000, a reduction from $481,308,000 year-over-year [35] - The debt to total capitalization percentage decreased to 35.8% from 39.8% year-over-year [22] - Interest and debt expense increased to $35,708,000 from $33,807,000 year-over-year [35] Cash Flow and Capital Expenditures - Free cash flow for the quarter was $4.0 million, compared to $11.7 million in the same quarter last year [23] - Capital expenditures for FY25 are projected to be between $20 million and $25 million [7] - Capital expenditures for Q2 FY25 were $5.4 million, up from $5.0 million in Q2 FY24 [23] - The company reported a net cash used for operating activities of $1.37 million for the six months ended September 30, 2024 [16] Strategic Initiatives and Guidance - Fiscal 2025 guidance includes flat to low-single digit growth in net sales and mid-single digit growth in adjusted EPS year-over-year [7] - The company remains confident in long-term financial objectives and strategic initiatives for margin expansion [2] - The company executed $4.9 million in share repurchases in Q2 FY25 and an additional $5.0 million in early Q3 FY25 [2] - Transitioning manufacturing to Monterrey, MX, incurred $11.8 million in factory closure and start-up costs [2] - The company incurred $11,806,000 in new factory start-up costs in Monterrey, MX [35] Profitability Metrics - Gross profit margin fell to 30.9%, down from 38.7% year-over-year, reflecting a gross profit of $74,743,000, a decrease of 25.2% [12] - Adjusted Gross Profit for Q2 FY25 was $87,938 compared to $99,976 in Q2 FY24, reflecting a decline of about 12.1% [25] - Adjusted Operating Income for Q2 FY25 was $26,963, down from $34,127 in Q2 FY24, representing a decline of approximately 21.0% [27] - Adjusted EBITDA for Q2 FY25 was $39,151, down from $45,719 in Q2 FY24, reflecting a decline of approximately 14.0% [33] - Adjusted Gross Margin for Q2 FY25 was 36.3%, compared to 38.7% in Q2 FY24, indicating a decrease of 2.4 percentage points [25] - Adjusted Operating Margin for Q2 FY25 was 11.1%, down from 13.2% in Q2 FY24, reflecting a decline of 2.1 percentage points [27]

CHARLOTTE, NC, Oct. 30, 2024 /PRNewswire/ -- Columbus McKinnon Corporation (Nasdaq: CMCO) ("Columbus McKinnon" or the "Company"), a leading designer, manufacturer and marketer of intelligent motion solutions for material handling, today announced financial results for its fiscal year 2025 second quarter, which ended September 30, 2024. Second Quarter 2025 Highlights (compared with prior-year period, except where otherwise noted) Orders increased 16% with a book-to-bill ratio of 1.08x; Precision conveyance u ...

CHARLOTTE, N.C., Oct. 16, 2024 /PRNewswire/ -- Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer, manufacturer and marketer of intelligent motion solutions for material handling, will release its second quarter fiscal 2025 results before the markets open on Wednesday, October 30, 2024. Following the release, management will host a conference call at 10:00 a.m. Eastern Time to review the financial and operating results for the period and discuss its corporate strategy and outlook. The conferen ...

Johnny Greig/DigitalVision via Getty Images The market behavior of industrial companies exposed to short-cycle end-markets has been, well, weird. Despite ample evidence of slowing end-market demand and increased caution around capex/expansion plans, investors have chosen to believe in an "it won't be so bad" thesis in many cases, and the industrial sector has held up well. In certain cases, though, the market has sold off stocks on fears of near-term revenue weakness and margin contraction, and that brings ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to __________ Commission File Number 001-34362 | --- | --- | --- | --- | |------------------------------------------------------------------------------------- ...

Columbus McKinnon Corporation (NASDAQ:CMCO) Q1 2025 Earnings Conference Call July 31, 2024 10:00 AM ET Company Participants Kristy Moser - VP, IR David Wilson - President and CEO Greg Rustowicz - CFO Conference Call Participants James Kirby - JPMorgan Chase Matt Summerville - D.A. Davidson Kyle May - Sidoti & Company Jon Tanwanteng - CJS Securities Operator Good morning and welcome to Columbus McKinnon First Quarter Fiscal 2025 Earnings Conference Call. My name is Renju and I will be your conference operato ...

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.81 on $265.1 million in revenues for the coming quarter and $3.18 on $1.05 billion in revenues for the current fiscal year. What's Next for Columbus McKinnon? A quarter ago, it was expected that this maker of materials handling products and systems would post earnings of $0.84 per share when it actually produced earnings of $0.75, delivering a surpris ...

3 Three Months Ended June 30, 2024 March 31, 2024 June 30, 2023 10 Columbus McKinnon Reports Continued Sales Growth and Gross Margin Expansion in Q1 FY25; Reaffirms FY25 Guidance July 31, 2024 Net Debt is defined in the credit agreement as total debt plus standby letters of credit, net of cash and cash equivalents. Net Leverage Ratio is defined as Net Debt divided by the Credit Agreement Trailing Twelve Month Adjusted EBITDA. Credit Agreement Trailing Twelve Month Adjusted EBITDA is defined as net income ad ...

Columbus McKinnon (CMCO) has been on a downward spiral lately with significant selling pressure. After declining 8.1% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier. Guide to Identifying Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a ...

Acquisition and Market Expansion - The company acquired montratec GmbH, enhancing its precision conveyance technology and adding approximately $5 billion to its Total Addressable Market (TAM), with the specialty conveying microsegment expected to grow at an estimated 6% to 8% annually[52][55]. - The company intends to continue seeking additional acquisition opportunities to expand into new markets and enhance its position in existing markets globally[85]. Financial Performance and Debt - As of March 31, 2024, the company's total debt was $517.3 million, an increase from $458.1 million in 2023, with long-term debt (less current portion) at $467.3 million[283]. - The company completed a public offering of 4,312,500 shares at $48.00 per share, raising total gross proceeds of $207 million[285]. - The company amended its Amended and Restated Revolving Credit Facility, increasing it by $75 million to a total of $175 million during fiscal 2024[292]. - The company borrowed $45 million under a new AR Securitization Facility, secured by U.S. accounts receivable totaling $74.59 million as of March 31, 2024[295]. - The outstanding principal balance of Term Loan B was $477,560,000 as of March 31, 2024, an increase from $462,560,000 as of March 31, 2023, with principal payments of $60,000,000 made during fiscal 2024[300]. - The Company plans to pay down approximately $50,000,000 in principal payments over the next 12 months, with $4,976,000 obligated for principal payments in that period[300]. Operational Performance - As of March 31, 2024, the company's backlog of orders was approximately $280.8 million, down from approximately $308.7 million at the same date in 2023, indicating progress in reducing past-due backlog[68]. - The company's principal raw material and component purchases totaled approximately $396 million in fiscal 2024, representing 62% of the cost of products sold[75]. - The company is currently experiencing higher raw material, freight, and logistics costs, which it has been able to recover through pricing actions[256]. - The company has incurred higher costs to secure inventory and has multi-sourced components to mitigate supply chain constraints, which are expected to adversely impact costs of goods sold[89]. Workforce and Corporate Values - The company has a global workforce of 3,515 employees, with approximately 6% represented under collective bargaining agreements[71]. - The company emphasizes diversity, equity, and inclusion as part of its corporate values, launching training modules to educate employees on these topics[73]. Safety and Environmental Initiatives - The company reported a safety incident rate of 0.71 for fiscal 2024, slightly up from 0.69 in fiscal 2023, highlighting its commitment to workplace safety[73]. - The company is focused on integrating Environmental Social and Governance (ESG) efforts into its enterprise strategy and daily operations[102]. Currency and Financial Instruments - A 10% change in the value of the U.S. dollar in relation to significant foreign currency exposures would have impacted income from operations by approximately $6,450,000[251]. - The company has foreign currency forward agreements with a notional amount of $7,590,000, maturing by March 31, 2025, to hedge forecasted inventory purchases[252]. - The company has a cross currency swap agreement with a notional amount of $93,910,000, maturing on March 31, 2028, to hedge changes in the value of an intercompany loan[258]. - The company expects to reclassify approximately $5,644,000 out of AOCL into interest expense during the next 12 months due to interest rate swaps[265]. Pension and Employee Benefits - The benefit obligation for the pension plan decreased to $268,025,000 as of March 31, 2024, down from $300,210,000 in the previous year[319]. - The net periodic pension cost for fiscal 2024 was $7,945,000, compared to $1,964,000 in fiscal 2023[322]. - Employer contributions for defined contribution plans were approximately $6,288,000 in 2024, up from $5,808,000 in 2023 and $4,540,000 in 2022[332]. - The cash surrender value of life insurance policies is $2,392,000 as of March 31, 2024, down from $3,690,000 in 2023[331]. Miscellaneous Financial Information - The company's goodwill was reported at $710.3 million, with $395.9 million attributed to the Precision Conveyance reporting unit as of March 31, 2024[279]. - The liability for asbestos-related product liability claims and related legal costs stood at $14.2 million as of March 31, 2024[273]. - The gross balance of deferred financing costs on Term Loan B increased to $7,845,000 as of March 31, 2024, up from $6,323,000 in the previous year[303]. - The outstanding balance on a finance lease obligation related to the Dorner acquisition was $12,937,000 as of March 31, 2024[304].