Columbus McKinnon Q4 2023 Earnings Report
Key Takeaways
Columbus McKinnon Corporation reported record fourth quarter sales of $253.8 million and record operating income of $27.5 million for fiscal year 2023. The company's strong cash generation provides financial flexibility to complete the acquisition of montratec.
Record sales of $253.8 million were achieved in Q4 2023.
Record operating income of $27.5 million was delivered in Q4 2023.
Gross margin expanded 220 basis points to 35.9%.
Cash from operations was $66.7 million for the quarter, the strongest quarter on record.
Columbus McKinnon
Columbus McKinnon
Columbus McKinnon Revenue by Geographic Location
Forward Guidance
Columbus McKinnon expects first quarter fiscal 2024 sales at current exchange rates to be in the range of $235 million to $240 million including the first month of montratec, implying high-single digit growth at the mid-point of the range.
Positive Outlook
- Opportunities to grow business at better than market rates.
- Direct customer feedback is informing actions to enhance customer experience.
- Deepening reach in more secular markets with enduring tailwinds.
- Advancing capabilities to sustain leadership position in intelligent motion for material handling.
- On track to deliver low-to-mid single digit revenue growth and further margin expansion in fiscal 2024.
Revenue & Expenses
Visualization of income flow from segment revenue to net income