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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 (CMCO) reported a strong start to fiscal year 2022 with first-quarter revenues reaching $213.5 million, up 53% year-over-year, driven by 24% organic growth. The Dorner Manufacturing acquisition contributed $34.2 million in sales. Gross margin expanded by 250 bps to 34.7%, with adjusted gross margin hitting a record 36.3%. Despite a net loss of $7.3 million, adjusted EPS surged to $0.69 from $0.17 the previous year. The company projects Q2 sales between $225 million and $230 million, supported by a record backlog.
Columbus McKinnon Corporation (Nasdaq: CMCO) has launched the Intelli-Connect Mobile+ app, enhancing its mobile diagnostics and analytics services for hoists and cranes. This app allows users to monitor equipment performance, analyze trending data, and track operational life without manual checks. New features provide real-time alerts, maintenance planning, and service recommendations, thus improving operational uptime and productivity. The app is available for free, with an upgrade option for advanced functionalities.
Columbus McKinnon Corporation (Nasdaq: CMCO) has announced a quarterly dividend of $0.06 per share, approved by its Board of Directors. This dividend will be payable on or about August 16, 2021 to shareholders on record as of August 6, 2021. Columbus McKinnon has approximately 28.4 million shares outstanding. The company specializes in intelligent motion solutions for material handling, offering products such as hoists and crane components.
Columbus McKinnon Corporation (Nasdaq: CMCO) is set to release its first quarter fiscal year 2022 results on July 29, 2021, before market opening. A conference call will occur at 10:00 a.m. ET to discuss financial and operational outcomes, along with corporate strategy and outlook, followed by a Q&A session. An audio replay will be available post-call until August 5, 2021. For further insights, access the company's investor webpage.
Columbus McKinnon Corporation (Nasdaq: CMCO) announced that Chief Financial Officer Greg Rustowicz will present at the 2021 Sidoti Virtual Investor Conference on June 23, 2021, at 10:45 a.m. Eastern Time. A live audio webcast with slides will be accessible at investors.columbusmckinnon.com. An archive will be available post-conference.
Columbus McKinnon specializes in intelligent motion solutions for material handling, including hoists, crane components, and digital power systems.
Columbus McKinnon Corporation (Nasdaq: CMCO) has appointed Adrienne Williams as Vice President and Chief Human Resources Officer. Starting today, Ms. Williams will lead the Company's global human resources function, bringing extensive experience from Compass Group North America, where she spent 15 years in various HR roles. The President and CEO, David Wilson, emphasized her importance in enhancing company culture and contributing to the strategic Blueprint for Growth 2.0 goals. Williams holds an M.B.A. from Montreat College and a bachelor's degree from Johnson C. Smith University.
Columbus McKinnon Corporation (Nasdaq: CMCO) has released its inaugural Corporate Social Responsibility (CSR) Report for 2021, outlining significant initiatives focused on environmental, social, and governance (ESG) principles. Key highlights include substantial investments in employee safety, workplace diversity, and governance. The report emphasizes the company's commitment to establishing clear metrics for progress and transparency with stakeholders. According to President and CEO David Wilson, integrating ESG into the company's strategy is a priority as they pursue growth and aim for a competitive advantage in the market.
Columbus McKinnon Corporation (CMCO) reported its fiscal year 2021 fourth quarter results, ending March 31, 2021. Revenue reached $186.2 million, a 12% increase sequentially. The company saw strong order volume, with orders up 24% from the previous quarter. Operating income was $14.2 million, down 14.8% year-over-year, and gross profit declined to $64.1 million with a margin of 34.4%. CMCO entered fiscal 2022 with a record backlog of $171.7 million and anticipates sales of $212-$217 million in Q1 fiscal 2022.
Columbus McKinnon Corporation (Nasdaq: CMCO) has appointed Michael Dastoor, Executive Vice President and CFO of Jabil Inc., to its Board of Directors, effective May 17, 2021. Dastoor's addition increases the board to nine directors, eight of whom are independent. The move is seen as a strategic enhancement, aligning with the company's Blueprint for Growth 2.0 strategy. Dastoor brings 35 years of global financial experience, having previously held senior roles in various industries, and will contribute to both the Audit Committee and the Compensation and Succession Committee.
Columbus McKinnon Corporation (Nasdaq: CMCO) announced a covenant-lite term loan credit agreement for $450 million, with a 7-year term. The interest rate is based on LIBOR plus 2.75%. The funds will refinance a $650 million first lien bridge loan used for previous debt and acquiring Dorner Manufacturing. The deal also includes a $100 million revolving credit facility. CFO Gregory P. Rustowicz highlighted the favorable terms, indicating strong investor interest and improved financial flexibility for growth initiatives.
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