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Columbus McKinnon Corporation (NYSE: CMCO) is a global leader in material handling solutions, providing a diverse array of products and services designed to move, lift, position, and secure materials efficiently and ergonomically. With a rich 135-year history, the company is renowned for its innovative and high-quality products, which are used across hundreds of industries including fabrication, food processing, mining, forestry, entertainment, trucking, utility, and defense.
Columbus McKinnon's core offerings include hoists, lifting chains, overhead crane systems, and below-the-hook attachments. These products are essential for various operations, helping firms maintain safety and efficiency in their material handling processes. In addition to these traditional products, the company has expanded its portfolio to include intelligent motion solutions such as motion control products, automated systems, and digital power and motion control systems.
The company's targeted market verticals encompass general industries, process industries, industrial automation, and e-commerce/supply chain/warehousing. These sectors benefit from a range of advanced products like crane components, precision conveyors, actuators, rigging tools, and light rail workstations. Columbus McKinnon generates a significant portion of its revenue from the United States, with substantial contributions from Germany, Canada, Asia Pacific, Latin America, Europe, the Middle East, and Africa.
Columbus McKinnon continues to innovate and adapt to market demands, positioning itself as a key player in the material handling industry. The company's commitment to quality and continuous improvement has earned it a stellar reputation globally, making its products the most recognized and trusted in the market.
Latest News: Source: Columbus McKinnon Corporation
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Columbus McKinnon (Nasdaq: CMCO) announced its participation in the Wells Fargo 2024 Industrials Conference. The event will take place on June 11, 2024, at 3:15 p.m. Eastern Time. A live audio webcast will be accessible via the Columbus McKinnon Investor Relations webpage. A replay will be available until at least June 25, 2024.
Columbus McKinnon specializes in intelligent motion solutions, including hoists, crane components, precision conveyor systems, and digital power and motion control systems. They focus on commercial and industrial applications that prioritize safety and quality.
Columbus McKinnon (Nasdaq: CMCO) reported record net sales of $1 billion for fiscal 2024, a growth of 8% driven by geographical expansion and the acquisition of montratec. The gross margin increased by 50 basis points, reaching 37.0%, and the net income stood at $46.6 million with a net margin of 4.6%. Adjusted EBITDA rose by 13% to $166.7 million. In Q4 FY24, net sales were $265.5 million, up 4.6%, while net income was $11.8 million. The company has projected a low-single digit growth in net sales and flat to slightly down adjusted EPS for Q1 FY25. For FY25, the company anticipates low-single digit growth in net sales and mid to high-single digit growth in adjusted EPS.
Columbus McKinnon (Nasdaq: CMCO) will release its fourth quarter and full fiscal year 2024 results before the market opens on May 29, 2024.
A conference call to discuss the financial results and corporate strategy will be held at 10:00 a.m. ET on the same day, accessible via live webcast or phone.
The call will feature management's review of financial and operating performance, along with discussions on future outlook.
A replay will be available until June 5, 2024, for those who miss the live broadcast.
Columbus McKinnon specializes in intelligent motion solutions for material handling and focuses on commercial and industrial applications where safety and quality are paramount.
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