Columbus Mckinnon Corp N Y Stock Price, News & Analysis

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.

Columbus McKinnon Corporation (NASDAQ: CMCO) hosted its hybrid investor day themed Unlocking the Potential of CMCO: Moving Beyond the Blueprint. The leadership team outlined a strategy that targets a 10% compound annual growth rate (CAGR), aiming for $1.5 billion in revenue by fiscal 2027 and EBITDA margins of 21%. CEO David J. Wilson highlighted the company's transformation into a leader in intelligent motion solutions and the expansion of its market reach. The event featured a live video webcast, with recordings and materials accessible post-event.

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.