Columbus McKinnon Q3 2023 Earnings Report
Key Takeaways
Columbus McKinnon Corporation reported a 7% increase in sales, reaching $230.4 million, driven by improved volume and pricing. Operating income grew by 32% to $20.2 million due to expanded gross margin and operating leverage. Net income also saw a 22% increase, amounting to $12.0 million, or $0.42 per diluted share.
Sales were up 7% to $230.4 million, or 11% on a constant currency basis.
Operating income increased 32% to $20.2 million due to expanded gross margin and operating leverage.
Net income grew 22% to $12.0 million, with diluted EPS at $0.42 and adjusted EPS at $0.72.
Daily order rate up 3% sequentially compared with the second quarter
Columbus McKinnon
Columbus McKinnon
Columbus McKinnon Revenue by Geographic Location
Forward Guidance
Columbus McKinnon expects fourth quarter fiscal 2023 sales of approximately $240 million to $250 million at current exchange rates. At the mid-point of this guidance range, the growth rate for the full year of fiscal 2023 is expected to be approximately 6% on a constant currency basis.
Positive Outlook
- Initiatives underway to improve customers’ experience
- Initiatives underway to strengthen business
- Initiatives underway to expand margins
- Initiatives underway to drive further innovation
- Expect to continue delivering year-over-year growth
Challenges Ahead
- Slowing economic environment
Revenue & Expenses
Visualization of income flow from segment revenue to net income