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Columbus McKinnon Corporation reports developments tied to its intelligent motion solutions business for material handling. The company designs, manufactures and markets products that move, lift, position and secure materials, including hoists, crane components, precision conveyor systems, rigging tools, light rail workstations, and digital power and motion control systems for commercial and industrial applications.
Recurring updates include dividend declarations, investor conference presentations, operating and financial results, capital-structure matters, material agreements, shareholder voting items and governance developments. Company communications also reflect portfolio actions involving hoist, chain manufacturing and related motion-control operations.
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 A live audio webcast with slides will be accessible at investors.columbusmckinnon.com, with an archived version available post-conference.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.
Columbus McKinnon Corporation (NASDAQ: CMCO) has announced a quarterly dividend of $0.06 per common share. This dividend is set to be paid on or about February 22, 2022, to shareholders on record as of February 11, 2022. The company boasts approximately 28.5 million shares outstanding, reflecting a commitment to return value to its shareholders. Columbus McKinnon is a leader in intelligent motion solutions, focusing on safety and quality in material handling applications.
Columbus McKinnon Corporation (NASDAQ: CMCO) announced its third quarter fiscal year 2022 results will be released on January 27, 2022, before market open. A conference call will be held at 10:00 a.m. Eastern Time to discuss financial results and corporate strategy, followed by a Q&A session. Audio replay of the call will be available from 1:00 p.m. Eastern Time on the same day through February 3, 2022. Columbus McKinnon specializes in intelligent motion solutions for material handling, focusing on safety and quality in engineering.
Columbus McKinnon Corporation (CMCO) has successfully completed the acquisition of Garvey Corporation, a leader in accumulation systems solutions. This acquisition, which aligns with CMCO's transformational Blueprint for Growth 2.0 strategy, enhances its offerings in precision conveying technologies. Founded in 1926, Garvey brings a skilled workforce and innovative solutions to CMCO, aiming to establish a comprehensive product line in the market. CEO David J. Wilson emphasized the strategic significance of this acquisition in boosting overall business value.
Columbus McKinnon Corporation (NASDAQ: CMCO) has appointed Gerald Colella, former President and CEO of MKS Instruments, and Chad Abraham, Chair and CEO of Piper Sandler, to its Board of Directors effective November 11, 2021. Richard H. Fleming, Chair of the Board, highlighted their extensive experience in industrial technology and financial services, which will support the company's growth strategy. The board now consists of eleven directors, with ten being independent.
Columbus McKinnon Corporation (CMCO) announced the acquisition of Garvey Corporation for $74 million to enhance its precision conveying solutions in the food & beverage and pharmaceutical sectors. This strategic move is expected to add $0.05 to GAAP EPS in fiscal 2023 and achieve cost synergies of 2% of revenue over two years. Garvey has a strong market presence with approximately $30 million in revenue and $9 million in adjusted EBITDA. The transaction will be financed through borrowing, resulting in a pro forma net debt leverage ratio of 2.8x.
Columbus McKinnon has launched the SPA Linear Actuator with Intelli-Motion technology, enhancing automation in material handling. This advanced actuator integrates a variable frequency drive (VFD) for precise control, supporting diverse applications, such as balancing loads and synchronizing processes. With a duty cycle increase of up to 75%, the actuator improves operational efficiency and production rates, while reducing installation costs. A free webinar on November 18 will provide further insights into its features.