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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 Corporation (NASDAQ: CMCO) announced the retirement of Liam McCarthy from its Board of Directors effective January 21, 2023, due to personal reasons. McCarthy served on the Board for over 14 years and was the Chair of the Compensation and Succession Committee. Richard H. Fleming, Chairman of the Board, praised McCarthy's significant contributions and operational insight. Following his departure, the Board will consist of ten members, nine of whom are independent and four diverse members. This transition may impact the company's governance structure but reflects a commitment to diversity and expertise.
Columbus McKinnon Corporation (NASDAQ: CMCO) has declared a quarterly dividend of $0.07 per common share, with a payment date of February 21, 2023. Shareholders of record as of February 10, 2023 will be entitled to receive this dividend. The company has approximately 28.6 million shares of common stock outstanding. Columbus McKinnon specializes in intelligent motion solutions, focusing on material handling products such as hoists and conveyor systems, which improve safety and efficiency across commercial applications.
Columbus McKinnon Corporation (NASDAQ: CMCO) will release its third quarter fiscal year 2023 results on February 1, 2023, before market opening. The company will host a conference call at 10:00 a.m. ET to discuss financial and operating results, alongside its corporate strategy and outlook. An audio replay will be available from 1:00 p.m. ET on the same day until February 8, 2023. Columbus McKinnon designs, manufactures, and markets intelligent motion solutions aimed at efficiently handling materials in commercial and industrial applications.
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.
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