Columbus McKinnon Corp/NY - CMCO STOCK NEWS

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.

Columbus McKinnon Corporation (NASDAQ: CMCO) will hold its Investor and Analyst Day on June 23, 2022, in Charlotte, North Carolina, starting at 9:00 a.m. ET. The event aims to discuss the company’s transformation into a premier intelligent motion solutions provider under the theme "Unlocking the Potential of CMCO: Advancing Beyond the Blueprint Strategy." Executives, including CEO David Wilson, will present long-term targets and strategic initiatives. Participants can submit questions during the webcast, which will end at approximately 12:30 p.m. ET.

Columbus McKinnon Corporation (CMCO) reported strong financial results for Q4 FY2022, achieving record sales of $253.4 million, a 36% increase compared to the previous year, with organic growth of 17%. The company also recorded a net income of $11.8 million, a 23% rise, and adjusted EPS of $0.79, up 31.7%. Fiscal year revenue grew 40% to $906.6 million. However, gross margin was impacted by rising freight costs. Looking ahead, CMCO expects Q1 FY2023 sales between $220 million and $230 million, factoring in a negative currency impact of $8 to $9 million.

Modine Manufacturing Company (NYSE: MOD) announced the appointment of David J. Wilson to its Board of Directors, effective May 9, 2022. Wilson, currently CEO of Columbus McKinnon Corporation (Nasdaq: CMCO), brings substantial leadership experience from his previous roles at Flowserve Corporation and SPX Corporation. His expertise will aid Modine's strategic objectives aimed at enhancing operational excellence and driving profitable growth. Wilson will also participate in the Audit and Corporate Governance and Nominating Committees.

Columbus McKinnon Corporation (NASDAQ: CMCO) will release its fourth quarter and full year fiscal 2022 results on May 25, 2022, before market opening. A conference call will be held at 10:00 a.m. ET to discuss financial results and corporate strategy. An audio replay will be available later that day until June 1, 2022. The company focuses on intelligent motion solutions for material handling, including hoists and conveyor systems, serving both commercial and industrial applications.

Columbus McKinnon Corporation (CMCO) has announced an increase in its quarterly dividend to $0.07 per share, up from $0.06. The dividend will be payable on May 16, 2022, to shareholders who hold shares as of May 6, 2022. With approximately 28.5 million shares outstanding, this move reflects the Company’s commitment to returning value to its shareholders while bolstering confidence in its financial performance.

Columbus McKinnon Corporation (NASDAQ: CMCO) will present at the 2022 JP Morgan Industrials Conference on March 15, 2022, at 4:40 PM ET. The presentation will feature CEO David Wilson and CFO Greg Rustowicz, showcasing the company’s intelligent motion solutions designed for materials handling. A live audio webcast with slides will be accessible at investors.columbusmckinnon.com, with an archived version available post-conference. Columbus McKinnon focuses on safety and quality in its extensive range of products.

Columbus McKinnon Corporation (NASDAQ: CMCO) has launched the Intelli-Connect™ Diagnostics and Analytics for its CM® Lodestar® VS Electric Chain Hoist. This innovative technology enables wireless programming and real-time monitoring of the hoist's performance directly from mobile devices. Users can access critical diagnostics, maintenance scheduling, and over-the-air software updates without physical connections. Intelli-Connect enhances operational safety and reduces downtime, offering both new installations and retrofit options for existing units.

Columbus McKinnon Corporation (Nasdaq: CMCO) reported a solid third quarter for fiscal 2022, achieving a 29.7% year-over-year sales increase to $216.1 million. Key growth was driven by acquisitions and strong demand, with a record backlog of $295 million. Gross margin improved to 34.7%, while adjusted EPS rose 66.7% to $0.60. The company anticipates fourth quarter sales of approximately $235 million. CEO David Wilson highlighted the strategic benefit of recent acquisitions, especially in the food & beverage and pharmaceutical sectors.