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Mar 31, 2022
Columbus McKinnon Q4 2022 Earnings Report
Columbus McKinnon's Q4 2022 earnings were released, revealing a record revenue driven by strong demand and strategic acquisitions.
Key Takeaways
Columbus McKinnon Corporation reported a 36% increase in revenue, reaching a record $253.4 million for the fourth quarter of fiscal year 2022. Net income grew by 23% to $11.8 million, and adjusted EBITDA expanded by 52% to $39.3 million. The company benefited from strong demand across all markets and contributions from recent acquisitions.
Achieved record sales in the quarter with revenue growth of $67.1 million; organic growth was 17% and acquisitions contributed $40.5 million.
Record quarterly orders of $269.8 million; ended year with record backlog of $309.1 million.
Net income in the quarter grew 23% to $11.8 million; adjusted EBITDA expanded 52% to $39.3 million, or 15.4% of revenue.
Continued to demonstrate strong cash generation capabilities with $25.2 million in cash from operations in the quarter.
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 first quarter fiscal 2023 sales of approximately $220 million to $230 million at current exchange rates which year-over-year has an $8 million to $9 million negative impact. Mr. Wilson concluded, “We expect fiscal 2023 to be another great year for Columbus McKinnon. We are transforming the Company into a faster growing, higher margin business that serves secular-driven markets with strong tailwinds. We are heavily focused on execution and remain confident that we are creating a better business model with stronger earnings power.
Positive Outlook
- Expect fiscal 2023 to be another great year for Columbus McKinnon.
- Transforming the Company into a faster growing business.
- Transforming the Company into a higher margin business.
- Serving secular-driven markets with strong tailwinds
- Heavily focused on execution
Challenges Ahead
- First quarter fiscal 2023 sales of approximately $220 million to $230 million at current exchange rates.
- Year-over-year has an $8 million to $9 million negative impact due to exchange rates
- Macro challenges that the industrial world is facing
- Gross margin this quarter was heavily impacted by rising freight costs.
- Addressing inflationary pressures while executing to deliver on growing demand
Revenue & Expenses
Visualization of income flow from segment revenue to net income