Columbus McKinnon Corp/NY - CMCO STOCK NEWS

Columbus McKinnon Corporation (CMCO) appointed Rebecca Yeung, Corporate VP at FedEx (FDX), to its Board of Directors as of January 9, 2023. With nearly 30 years of experience, Ms. Yeung will bring valuable insights in AI-enabled robotics and supply chain automation, enhancing the Board's capabilities towards growth and strategic direction. This addition increases the Board's independence, with ten out of eleven directors now independent. Company officials express optimism about her contributions to Columbus McKinnon's intelligent motion solutions and growth strategy.

Columbus McKinnon Corporation (CMCO) reported second-quarter fiscal 2023 results with revenues of $232 million, reflecting an 8.5% increase on a constant currency basis. Operating income reached a record $27.4 million, while earnings per diluted share stood at $0.49. Adjusted EBITDA margin improved to 16.8%. The company highlighted strong cash generation, with $17 million from operations, allowing for debt reduction and enhanced financial flexibility. Despite currency translation impacts, the acquisition of Garvey Corporation contributed positively to sales growth.

Columbus McKinnon Corporation (NASDAQ: CMCO) has announced a quarterly dividend payment of $0.07 per share, to be paid on November 14, 2022. Shareholders recorded by the close of business on November 4, 2022 will receive this dividend. The company has approximately 28.6 million shares outstanding. Columbus McKinnon specializes in intelligent motion solutions, enhancing material handling through a range of products including hoists and digital control systems.

Columbus McKinnon Corporation (NASDAQ: CMCO) announced the release date for its second quarter fiscal year 2023 results, scheduled for October 27, 2022, before market opening. The company will hold a conference call at 10:00 a.m. Eastern Time to discuss financial results, corporate strategy, and future outlook. An audio replay will be available post-conference until November 3, 2022. Columbus McKinnon specializes in intelligent motion solutions for material handling, manufacturing various products including hoists and crane components.

Columbus McKinnon Corporation (CMCO) reported fiscal Q1 2023 financial results with revenues of $220 million, a 6.5% increase in constant currency. The company achieved a record gross margin of 37.5% and earnings per diluted share of $0.29, recovering from a loss of $0.27 in the prior year. Strong demand drove an 11% increase in orders, while debt was reduced by $10 million. The company anticipates Q2 2023 sales between $230 million and $240 million, reflecting confidence in its growth strategy.

Columbus McKinnon Corporation (CMCO) has announced a quarterly dividend of $0.07 per share, set to be paid on August 15, 2022, to shareholders on record by August 5, 2022. The company currently has approximately 28.6 million shares of common stock outstanding, underscoring its ongoing commitment to rewarding shareholders. This announcement reflects CMCO's strong financial position and confidence in future performance amidst its continuous innovation in intelligent motion solutions for material handling.

Columbus McKinnon Corporation (NASDAQ: CMCO) will announce its first quarter fiscal year 2023 results on July 28, 2022, before market open. A conference call will follow at 10:00 AM ET to discuss financial results and corporate strategy. Interested parties can join via phone at 201-493-6780 or through a webcast at investors.columbusmckinnon.com. An audio replay will be available after the call until August 4, 2022.

Columbus McKinnon Corporation (NASDAQ: CMCO) hosted its hybrid investor day themed Unlocking the Potential of CMCO: Moving Beyond the Blueprint. The leadership team outlined a strategy that targets a 10% compound annual growth rate (CAGR), aiming for $1.5 billion in revenue by fiscal 2027 and EBITDA margins of 21%. CEO David J. Wilson highlighted the company's transformation into a leader in intelligent motion solutions and the expansion of its market reach. The event featured a live video webcast, with recordings and materials accessible post-event.

Columbus McKinnon Corporation (NASDAQ: CMCO) has announced that Board member Kathryn V. Roedel has been recognized by the National Association of Corporate Directors (NACD) in the prestigious Directorship 100 list, which honors top directors in corporate governance.

Roedel, who has been on the Board since October 2017, is noted for her contributions to the company's governance practices, including her role as Chair of the Corporate Governance and Nominations Committee.