Columbus Mckinnon Corp N Y Stock Price, News & Analysis

EQT Private Equity has agreed to sell Dorner, a leading provider of high precision conveyor solutions, to Columbus McKinnon Corporation (CMCO) for an Enterprise Value of USD 485 million. Established in 1966 and headquartered in Hartland, WI, Dorner focuses on various high-growth sectors, including e-commerce and life sciences. With approximately 400 employees and manufacturing capabilities in multiple regions, Dorner has successfully integrated acquisitions and realigned its market approach under EQT's guidance. The transaction is anticipated to close in Q2 2021.

Columbus McKinnon Corporation (CMCO) has announced a definitive agreement to acquire Dorner Manufacturing Corporation for $485 million. The acquisition aims to enhance CMCO's growth by expanding its portfolio in high-precision conveying systems, tapping into the $5 billion specialty conveyor market. Dorner, which has achieved a 12% revenue growth over five years, serves high-demand sectors like life sciences and e-commerce. The deal is anticipated to close in early fiscal 2022, with expected cost synergies of nearly $5 million within two years.

Columbus McKinnon Corporation (CMCO) reported its fiscal Q3 2021 results, revealing a revenue of $166.5 million, a 5.5% increase from the previous quarter, yet a 16.5% decrease year-over-year. Operating income was $10.4 million, reflecting a 50% decline. Free cash flow stood at $21.9 million. The company’s backlog grew 22% year-over-year to $152.4 million. For Q4 2021, CMCO expects sales between $175 million and $180 million.

Management expressed optimism for FY2022, citing improving demand and strategic initiatives aimed at enhancing operational efficiency.

Columbus McKinnon Corporation (CMCO) has announced a quarterly dividend of $0.06 per share, approved by its Board of Directors on January 18, 2021. This dividend will be payable on or about February 16, 2021 to shareholders of record by February 5, 2021. The company currently has approximately 23.9 million shares outstanding. Columbus McKinnon specializes in intelligent motion control products and automated systems, focusing on safety and quality in commercial and industrial applications.

Columbus McKinnon Corporation (Nasdaq: CMCO) will release its third quarter fiscal year 2021 results on January 28, 2021, before market opening. A conference call will follow at 10:00 a.m. Eastern Time to discuss financial and operational results, along with corporate strategy and outlook. Participants can access the call at 201-493-6780 or via webcast on the company's investor relations page. An audio replay will be available after the call until February 4, 2021.

Columbus McKinnon Corporation (CMCO), a leader in motion control products, has launched the Intelli-Guide™ Auto-Dispatch System, enhancing automation for outdated cranes, hoists, and monorail systems. The system utilizes Magnetek® technology to enable automatic load dispatching with minimal operator input, significantly increasing productivity and safety by reducing human error. Intelli-Guide is customizable for various applications and industries, including aerospace and automotive, and aims to extend equipment lifecycles while streamlining operations.

Columbus McKinnon Corporation (CMCO) reported a 13.5% revenue increase to $157.8 million for Q2 FY 2021, despite a 24% decline year-over-year. Operating income was $15.8 million (10% of sales), but net loss reached $4.1 million, impacted by a $16.3 million non-cash pension settlement. Adjusted EBITDA fell 37.2% to $21.1 million. The company anticipates Q3 revenue between $150 million and $160 million, supported by a 26% rise in orders and a backlog recovery to pre-COVID levels. The CEO emphasized ongoing strategic growth despite challenges.

Columbus McKinnon Corporation (Nasdaq: CMCO) has announced a quarterly dividend of $0.06 per common share, payable on or about November 16, 2020. Shareholders of record by November 6, 2020 will be eligible. With approximately 23.9 million shares outstanding, this reflects the company’s commitment to returning value to its investors. Columbus McKinnon specializes in designing and manufacturing motion control products and automated systems for material handling across various commercial and industrial applications.

Columbus McKinnon Corporation (Nasdaq: CMCO) will release its second quarter fiscal year 2021 results on October 29, 2020, before market opening. The company will host a conference call at 10:00 a.m. Eastern Time to discuss financial results, corporate strategy, and outlook, followed by a Q&A session. An audio replay will be accessible from 1:00 p.m. Eastern Time the same day through November 5, 2020. Columbus McKinnon specializes in designing and manufacturing motion control products for material handling.