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Dec 31, 2023
Columbus McKinnon Q3 2024 Earnings Report
Columbus McKinnon reported operating income growth and net sales growth for the third quarter of fiscal year 2024.
Key Takeaways
Columbus McKinnon reported a strong third quarter in fiscal year 2024, with significant growth in operating income and net sales. The company's performance was driven by strength across all product platforms, particularly in precision conveyance. The company also completed construction of a new manufacturing center in Mexico, expected to provide growth capacity and cost savings.
Orders increased by 8%, including a 23% increase in precision conveyance orders.
Net sales increased by 10% to $254.1 million, driven by strength across all product platforms led by precision conveyance.
Operating income increased 33% to $26.9 million, representing 10.6% of net sales.
The company completed construction of a new manufacturing center of excellence in Mexico.
Columbus McKinnon
Columbus McKinnon
Columbus McKinnon Revenue by Geographic Location
Revenue by Geographic Location
U.S. Sales Revenue
CapyFin.comNon-U.S. Sales Revenue
CapyFin.com Forward Guidance
Columbus McKinnon expects net sales of approximately $260 million to $270 million at current exchange rates for the fourth quarter of fiscal year 2024, representing 4% growth year-over-year at the midpoint of the range.
Positive Outlook
- Net sales are expected to grow by approximately 4% year-over-year at the midpoint of the range.
- Guidance reflects continued execution of commercial and operational initiatives.
- The company is leveraging CMBS and the 80/20 process to drive improvements.
- The company has an encouraging funnel for both short cycle and large projects.
- The company is executing on its strategy to become a leader in intelligent motion solutions.
Revenue & Expenses
Visualization of income flow from segment revenue to net income