Columbus McKinnon Reports Record Orders in Fiscal 2025

Core Insights - Columbus McKinnon Corporation reported a decrease in net sales for both the fourth quarter and the full fiscal year 2025, with a net loss attributed to various non-cash costs and operational challenges [1][5][10]. Fiscal Year 2025 Highlights - Net sales for fiscal year 2025 were $963.0 million, down 5% from $1,013.5 million in fiscal year 2024 [5][16]. - The company experienced a net loss of $5.1 million for the year, which included significant non-cash pension settlement costs and factory consolidation costs [5][16]. - Adjusted EBITDA for the year was $150.5 million, with an adjusted EBITDA margin of 15.6% [5]. Fourth Quarter 2025 Highlights - Fourth quarter net sales were $246.9 million, a decrease of 7% compared to $265.5 million in the same quarter of the previous year [3][17]. - U.S. sales fell by 10.1%, while non-U.S. sales decreased by 2.7% [3][4]. - Gross profit for the fourth quarter was $79.8 million, down 15.4% from $94.3 million in the prior year, resulting in a gross margin of 32.3% [4][17]. Orders and Backlog - The company reported record orders of $1.0 billion, up 3%, driven by growth in project-related business and precision conveyance [5][26]. - The backlog increased to $322.5 million, reflecting a 15% rise compared to the previous year [5][26]. Kito Crosby Acquisition - Columbus McKinnon is progressing towards the acquisition of Kito Crosby, which is expected to enhance its product offerings and geographic reach [7][8]. - The acquisition is subject to regulatory clearance and is anticipated to close later in the calendar year [8]. Fiscal Year 2026 Guidance - The company expects net sales and adjusted EPS to be flat to slightly up for fiscal 2026, not accounting for the Kito Crosby acquisition [10][11]. - The guidance reflects ongoing challenges from tariff policies impacting supply chain costs [10][11]. Capital Allocation - Columbus McKinnon plans to prioritize debt repayment to strengthen its balance sheet while maintaining consistent dividend payments [9].