Columbus McKinnon Reports Q1 FY26 Results and Reaffirms Guidance
Columbus McKinnon (Nasdaq: CMCO) reported Q1 FY26 results with mixed performance. Orders increased 2% to $258.6 million, driven by an 8% rise in project-related orders, while backlog grew 23% to $360.1 million. Net sales declined 1.6% to $235.9 million, with a book-to-bill ratio of 1.1x.
The company reported a net loss of $1.9 million, impacted by $8.1 million in Kito Crosby acquisition expenses, $4.2 million in tariff impacts, and $2.5 million in business realignment costs. Adjusted EBITDA was $30.8 million with a 13.0% margin. The company reaffirmed its FY26 guidance, expecting flat to slightly up net sales and adjusted EPS, excluding the pending Kito Crosby acquisition impact.
Columbus McKinnon (Nasdaq: CMCO) ha riportato risultati per il primo trimestre dell'anno fiscale 26 con performance contrastanti. Gli ordini sono aumentati del 2% raggiungendo 258,6 milioni di dollari, trainati da una crescita dell'8% negli ordini relativi a progetti, mentre il portafoglio ordini 猫 cresciuto del 23% arrivando a 360,1 milioni di dollari. Le vendite nette sono diminuite dell'1,6% a 235,9 milioni di dollari, con un rapporto book-to-bill di 1,1x.
L'azienda ha registrato una perdita netta di 1,9 milioni di dollari, influenzata da spese per l'acquisizione di Kito Crosby pari a 8,1 milioni di dollari, impatti tariffari per 4,2 milioni di dollari e costi di riallineamento aziendale per 2,5 milioni di dollari. L'EBITDA rettificato 猫 stato di 30,8 milioni di dollari con un margine del 13,0%. La societ脿 ha confermato le previsioni per l'anno fiscale 26, prevedendo vendite nette e EPS rettificato stabili o leggermente in aumento, escludendo l'impatto dell'acquisizione in corso di Kito Crosby.
Columbus McKinnon (Nasdaq: CMCO) present贸 resultados del primer trimestre del a帽o fiscal 26 con un desempe帽o mixto. Los pedidos aumentaron un 2% hasta 258,6 millones de d贸lares, impulsados por un incremento del 8% en pedidos relacionados con proyectos, mientras que la cartera de pedidos creci贸 un 23% hasta 360,1 millones de d贸lares. Las ventas netas disminuyeron un 1,6% hasta 235,9 millones de d贸lares, con una relaci贸n book-to-bill de 1,1x.
La compa帽铆a report贸 una p茅rdida neta de 1,9 millones de d贸lares, afectada por gastos de adquisici贸n de Kito Crosby por 8,1 millones de d贸lares, impactos arancelarios de 4,2 millones de d贸lares y costos de realineaci贸n empresarial de 2,5 millones de d贸lares. El EBITDA ajustado fue de 30,8 millones de d贸lares con un margen del 13,0%. La empresa reafirm贸 su gu铆a para el a帽o fiscal 26, esperando ventas netas y ganancias ajustadas por acci贸n planas o ligeramente al alza, excluyendo el impacto pendiente de la adquisici贸n de Kito Crosby.
Columbus McKinnon (雮橃姢雼�: CMCO)鞚� 26須岅硠鞐半弰 1攵勱赴 鞁れ爜鞚� 順检“靹鸽 氤搓碃頄堨姷雼堧嫟. 靾橃＜電� 頂勲鞝濏姼 甏�霠� 欤茧鞚� 8% 歃濌皜頃橂┌ 2% 靸侅姽頃橃棳 2鞏� 5,860毵� 雼煬毳� 旮半頄堦碃, 靾橃＜ 鞛旉碃電� 23% 歃濌皜頃� 3鞏� 6,010毵� 雼煬鞐� 雼枅鞀惦媹雼�. 靾滊Г於滌潃 1.6% 臧愳唽頃橃棳 2鞏� 3,590毵� 雼煬鞓�鞙茧┌, 攵來埇牍� 牍勳湪鞚� 1.1氚办榾鞀惦媹雼�.
须岇偓电� 190毵� 雼煬鞚� 靾滌啇鞁�鞚� 氤搓碃頄堨溂氅�, 鞚措姅 韨ろ啝 韥鞀る箘 鞚胳垬 牍勳毄 810毵� 雼煬, 甏�靹� 鞓來枼 420毵� 雼煬, 靷梾 鞛爼牍� 牍勳毄 250毵� 雼煬鞚� 鞓來枼鞚� 氚涭晿鞀惦媹雼�. 臁办爼 EBITDA電� 3,080毵� 雼煬搿� 13.0%鞚� 毵堨鞚� 旮半頄堨姷雼堧嫟. 须岇偓电� 韨ろ啝 韥鞀る箘 鞚胳垬 鞓來枼 鞝滌櫢 鞁� 靾滊Г於滉臣 臁办爼 EPS臧� 鞝勲厔 靾橃鞚搓卑雮� 靻岉彮 歃濌皜頃� 瓴冹溂搿� 鞓堨儊頃橂┌ 26須岅硠鞐半弰 臧�鞚措崢鞀るゼ 鞛檿鞚疙枅鞀惦媹雼�.
Columbus McKinnon (Nasdaq : CMCO) a publi茅 des r茅sultats du premier trimestre de l鈥檈xercice 26 avec des performances mitig茅es. Les commandes ont augment茅 de 2 % pour atteindre 258,6 millions de dollars, port茅es par une hausse de 8 % des commandes li茅es aux projets, tandis que le carnet de commandes a progress茅 de 23 % pour atteindre 360,1 millions de dollars. Les ventes nettes ont diminu茅 de 1,6 % pour s鈥櫭﹖ablir 脿 235,9 millions de dollars, avec un ratio book-to-bill de 1,1x.
L鈥檈ntreprise a annonc茅 une perte nette de 1,9 million de dollars, impact茅e par 8,1 millions de dollars de frais li茅s 脿 l鈥檃cquisition de Kito Crosby, 4,2 millions de dollars d鈥檈ffets tarifaires, et 2,5 millions de dollars de co没ts de r茅alignement commercial. L鈥橢BITDA ajust茅 s鈥檈st 茅lev茅 脿 30,8 millions de dollars avec une marge de 13,0 %. La soci茅t茅 a confirm茅 ses pr茅visions pour l鈥檈xercice 26, anticipant des ventes nettes et un BPA ajust茅 stables 脿 l茅g猫rement en hausse, hors impact de l鈥檃cquisition en cours de Kito Crosby.
Columbus McKinnon (Nasdaq: CMCO) meldete gemischte Ergebnisse f眉r das erste Quartal des Gesch盲ftsjahres 26. Die Auftr盲ge stiegen um 2% auf 258,6 Millionen US-Dollar, angetrieben durch einen Anstieg der projektbezogenen Auftr盲ge um 8 %, w盲hrend der Auftragsbestand um 23% auf 360,1 Millionen US-Dollar wuchs. Der Nettoumsatz ging um 1,6 % auf 235,9 Millionen US-Dollar zur眉ck, mit einem Book-to-Bill-Verh盲ltnis von 1,1x.
Das Unternehmen verzeichnete einen Nettoverlust von 1,9 Millionen US-Dollar, beeinflusst durch Akquisitionskosten f眉r Kito Crosby in H枚he von 8,1 Millionen US-Dollar, Zolleffekte von 4,2 Millionen US-Dollar und Restrukturierungskosten von 2,5 Millionen US-Dollar. Das bereinigte EBITDA betrug 30,8 Millionen US-Dollar bei einer Marge von 13,0 %. Das Unternehmen best盲tigte seine Prognose f眉r das Gesch盲ftsjahr 26 und erwartet stabile bis leicht steigende Nettoums盲tze und bereinigtes Ergebnis je Aktie, ohne Ber眉cksichtigung der noch ausstehenden Auswirkungen der Kito Crosby-Akquisition.
- Orders increased 2% to $258.6 million with 8% growth in project-related orders
- Backlog grew 23% to $360.1 million year-over-year
- Strong book-to-bill ratio of 1.1x indicating healthy demand
- Management reaffirmed FY26 guidance despite challenges
- Net loss of $1.9 million compared to $8.6 million profit in prior year
- Operating margin declined to 2.3% from 8.8% year-over-year
- Net sales decreased 1.6% to $235.9 million
- $4.2 million negative tariff impact on operating profit
- Gross margin contracted 440 basis points to 32.7%
Insights
CMCO delivered stable Q1 results with challenging margins due to tariff impacts, but strong order growth and backlog support their reaffirmed guidance.
Columbus McKinnon's Q1 FY26 results reveal mixed performance with some encouraging underlying trends. The company reported
However, profitability metrics showed significant pressure. Gross margin contracted 440 basis points to
The earnings decline was largely attributed to tariff impacts of
The balance sheet position remains solid with
Looking ahead, management has reaffirmed its fiscal 2026 guidance for flat to slightly higher sales and adjusted EPS, excluding any impact from the pending Kito Crosby acquisition. This guidance assumes
The strong order growth and expanding backlog suggest that CMCO's industrial end markets remain resilient despite macroeconomic uncertainties. The company's ability to navigate tariff pressures through pricing and supply chain adjustments will be crucial for restoring margins in the coming quarters.
First听Quarter 2026 Highlights (compared with prior-year period, except where otherwise noted)
- Orders of
$258.6 million 2% driven by an8% increase in project-related orders - Backlog of
$360.1 million $67.3 million 23% and a Book-to-Bill Ratio of 1.1x - Net sales of
$235.9 million 2.3% operating margin or7.8% on an adjusted basis1 includes a tariff impact of$4.2 million - Net loss of
$1.9 million 0.8% ) includes$8.1 million
acquisition-related expenses,$4.2 million $2.5 million - Adjusted EBITDA1 of
$30.8 million 13.0% - GAAP EPS of (
$0.07 $0.50 $0.11
"The first quarter largely played out as expected as we delivered sustained order growth in an environment where global tariff policies pressured near-term results," said David J. Wilson, President and Chief Executive Officer. "While the geographic distribution of tariffs has evolved, we continue to anticipate approximately
"The demand environment remains healthy and our optimism for the business remains unchanged. This was underscored by a book-to-bill ratio of 1.1x in the first quarter and a
Wilson concluded "We continue to progress towards the closing of the Kito Crosby acquisition and believe with the benefits of scale, improved solutions, the realization of synergies and strong free cash flow, we will be positioned to grow profitably and deliver long-term value for our shareholders."
First Quarter Fiscal 2026 Sales
($ in millions) | Q1听贵驰26 | Q1听贵驰25 | Change | % Change | |||
Net sales | $听听听听听听听 235.9 | $听听听听听听听 239.7 | $听听听听听听听听听听听听听 (3.8) | (1.6)听% | |||
$听听听听听听听 135.3 | $听听听听听听听 136.3 | $听听听听听听听听听听听听听 (1.0) | (0.7)听% | ||||
听听听听 % of total | 57听% | 57听% | |||||
Non- | $听听听听听听听 100.6 | $听听听听听听听 103.4 | $听听听听听听听听听听听听听 (2.8) | (2.7)听% | |||
听听听听 % of total | 43听% | 43听% |
For the quarter, net sales decreased
First Quarter Fiscal 2026 Operating Results
($ in millions, except per share figures) | Q1 FY26 | Q1 FY25 | Change | % Change | |||
Gross profit | $听听听听听听听听听 77.2 | $听听听听听听听听听 89.0 | $听听听听听听听听听听听 (11.8) | (13.3)听% | |||
听听听听 Gross margin | 32.7听% | 37.1听% | (440) bps | ||||
Adjusted Gross Profit1 | $听听听听听听听听听 80.9 | $听听听听听听听听听 91.0 | $听听听听听听听听听听听 (10.1) | (11.1)听% | |||
听听听听 Adjusted Gross Margin1 | 34.3听% | 38.0听% | (370) bps | ||||
Income from operations | $听听听听听听听听听听听 5.5 | $听听听听听听听听听 21.1 | $听听听听听听听听听听听 (15.7) | (74.0)听% | |||
听Operating margin | 2.3听% | 8.8听% | (650) bps | ||||
Adjusted Operating Income1 | $听听听听听听听听听 18.5 | $听听听听听听听听听 25.7 | $听听听听听听听听听听听听听 (7.2) | (27.9)听% | |||
听听听听 Adjusted Operating Margin1 | 7.8听% | 10.7听% | (290) bps | ||||
Net income (loss) | $听听听听听听听听听听 (1.9) | $听听听听听听听听听听听 8.6 | $听听听听听听听听听听听 (10.5) | NM | |||
听听听听 Net income (loss) margin | (0.8)听% | 3.6听% | (440) bps | ||||
GAAP EPS | $听听听听听听听听 (0.07) | $听听听听听听听听听 0.30 | $听听听听听听听听听听听 (0.37) | NM | |||
Adjusted EPS1,2 | $听听听听听听听听听 0.50 | $听听听听听听听听听 0.62 | $听听听听听听听听听听听 (0.12) | (19.4)听% | |||
Adjusted EBITDA1 | $听听听听听听听听听 30.8 | $听听听听听听听听听 37.5 | $听听听听听听听听听听听听听 (6.7) | (17.9)听% | |||
听听听听 Adjusted EBITDA Margin1 | 13.0听% | 15.6听% | (260) bps |
Capital Allocation Priorities
The Company plans to continue to allocate capital to pay down debt to deleverage its balance sheet in the near term while continuing its track record of a consistent dividend payment. Over time, the Company believes it will be positioned to utilize its expected significant free cash flow generation to advance its Intelligent Motion strategy across the fragmented marketplace.
Fiscal Year 2026 Guidance
The Company is reaffirming guidance for fiscal 2026. Please note that the Company's outlook does not contemplate the impact of the pending Kito Crosby acquisition. Additionally, the guidance only reflects what is known as of the date of this release about the tariff policy environment, which has remained volatile to date and may impact supply chain costs and product availability. This forecast assumes tariffs will be a headwind to Adjusted EPS in the first half of fiscal 2026 due to the timing of supply chain adjustments, pricing increases and surcharge implementation lagging tariff costs and tariff cost neutrality expected by the second half of fiscal 2026.
Metric | FY26 |
Net sales | Flat to slightly up |
Adjusted EPS4 | Flat to slightly up |
Fiscal 2026 guidance assumes approximately
Teleconference and Webcast
Columbus McKinnon will host a conference call today at 10:00 AM Eastern Time to discuss the Company's financial results and strategy. The conference call, earnings release and earnings presentation will be accessible through live webcast on the Company's investor relations website at .听 A replay of the webcast will also be archived on the website through August 6, 2025.
______________________ | |
1听 | Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Operating Income, Adjusted Operating Margin, Adjusted EBITDA, Adjusted EBITDA Margin and Adjusted EPS are non-GAAP financial measures.听 See accompanying discussion and reconciliation tables provided in this release for reconciliations of these non-GAAP financial measures to the closest corresponding GAAP financial measures. |
2听 | Adjusted EPS excludes, among other adjustments, amortization of intangible assets.听 The Company believes this better represents its inherent earnings power and cash generation capability. |
3听 | Tariff impact is being presented in a tax effected manner using a |
4听 | The Company has not reconciled the Adjusted EPS guidance to the most comparable GAAP financial measure outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide guidance for the comparable GAAP financial measure. Forward-looking guidance regarding Adjusted EPS is made in a manner consistent with the relevant definitions and assumptions noted herein. |
About Columbus McKinnon
Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of intelligent motion solutions that move the world forward and improve lives by efficiently and ergonomically moving, lifting, positioning, and securing materials. Key products include hoists, crane components, precision conveyor systems, rigging tools, light rail workstations, and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how.听 Comprehensive information on Columbus McKinnon is available at .听
Safe Harbor Statement
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995.听 Such forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "continue," "could," "estimate," "expect," "illustrative," "intend," "likely," "may," "opportunity," "plan," "possible," "potential," "predict," "project," "shall," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts contained in this document, including, but are not limited to, statements relating to: (i) our strategy, outlook and growth prospects, including our fiscal year 2026 guidance as well as the associated assumed inputs for our fiscal 2026 guidance regarding interest expense, amortization, effective tax rate and diluted shares outstanding; (ii) our operational and financial targets and capital allocation priorities; (iii) general economic trends and trends in our industry and markets; (iv) expected benefits of the Kito Crosby acquisition; (v) plans for the repayment of indebtedness; and (vi) the competitive environment in which we operate, are forward looking statements.听 Forward-looking statements are not based on historical facts, but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions, and involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025 as well as in our other filings with the Securities and Exchange Commission, which are available on its website at . Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date they are made. Columbus McKinnon undertakes no duty to update publicly any such forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.
Contacts:
Gregory P. Rustowicz | Kristine Moser | |
EVP Finance and CFO | VP IR and Treasurer | |
Columbus McKinnon Corporation | Columbus McKinnon Corporation | |
716-689-5442 | 704-322-2488 | |
听
Financial tables follow.
听
COLUMBUS McKINNON CORPORATION Condensed Consolidated Income Statements - UNAUDITED (In thousands, except per share and percentage data) 听 | ||||||
Three Months Ended | ||||||
June 30, | June 30, | Change | ||||
Net sales | $听听听听听听听听听 235,920 | $听听听听听听听听听 239,726 | (1.6)听% | |||
Cost of products sold | 158,698 | 150,696 | 5.3听% | |||
Gross profit | 77,222 | 89,030 | (13.3)听% | |||
Gross profit margin | 32.7听% | 37.1听% | ||||
Selling expenses | 28,531 | 27,770 | 2.7听% | |||
% of net sales | 12.1听% | 11.6听% | ||||
General and administrative expenses | 30,743 | 26,447 | 16.2听% | |||
% of net sales | 13.0听% | 11.0听% | ||||
Research and development expenses | 4,821 | 6,166 | (21.8)听% | |||
% of net sales | 2.0听% | 2.6听% | ||||
Amortization of intangibles | 7,635 | 7,500 | 1.8听% | |||
Income from operations | 5,492 | 21,147 | (74.0)听% | |||
Operating margin | 2.3听% | 8.8听% | ||||
Interest and debt expense | 8,698 | 8,235 | 5.6听% | |||
Investment (income) loss | (1,049) | (209) | 401.9听% | |||
Foreign currency exchange (gain) loss | (342) | 395 | NM | |||
Other (income) expense, net | (177) | 676 | NM | |||
Income (loss) before income tax expense (benefit) | (1,638) | 12,050 | NM | |||
Income tax expense (benefit) | 260 | 3,421 | (92.4)听% | |||
Net income (loss) | $听听听听听听听听听听听 (1,898) | $听听听听听听听听听听听听听 8,629 | NM | |||
Average basic shares outstanding | 28,658 | 28,834 | (0.6)听% | |||
Basic income (loss) per share | $听听听听听听听听听听听听听 (0.07) | $听听听听听听听听听听听听听听听 0.30 | NM | |||
Average diluted shares outstanding | 28,658 | 29,127 | (1.6)听% | |||
Diluted income (loss) per share | $听听听听听听听听听听听听听 (0.07) | $听听听听听听听听听听听听听听听 0.30 | NM | |||
听
COLUMBUS McKINNON CORPORATION Condensed Consolidated Balance Sheets (In thousands) 听 | ||||
June 30, | March 31, | |||
(Unaudited) | ||||
ASSETS | ||||
Current assets: | ||||
Cash and cash equivalents | $听听听听听听听听听听听听听听听 28,722 | $听听听听听听听听听听听听听听听 53,683 | ||
Trade accounts receivable | 180,127 | 165,481 | ||
Inventories | 216,203 | 198,598 | ||
Prepaid expenses and other | 53,424 | 48,007 | ||
Total current assets | 478,476 | 465,769 | ||
Property, plant, and equipment, net | 106,735 | 106,164 | ||
Goodwill | 732,413 | 710,807 | ||
Other intangibles, net | 360,986 | 356,562 | ||
Marketable securities | 10,325 | 10,112 | ||
Deferred taxes on income | 4,373 | 2,904 | ||
Other assets | 85,884 | 86,470 | ||
Total assets | $听听听听听听听听听听 1,779,192 | $听听听听听听听听听听 1,738,788 | ||
LIABILITIES AND SHAREHOLDERS' EQUITY | ||||
Current liabilities: | ||||
Trade accounts payable | $听听听听听听听听听听听听听听听 86,713 | $听听听听听听听听听听听听听听听 93,273 | ||
Accrued liabilities | 121,769 | 113,907 | ||
Current portion of long-term debt and finance lease obligations | 50,757 | 50,739 | ||
Total current liabilities | 259,239 | 257,919 | ||
Term loan, AR securitization facility and finance lease obligations | 422,795 | 420,236 | ||
Other non current liabilities | 186,275 | 178,538 | ||
Total liabilities | $听听听听听听听听听听听听听 868,309 | $听听听听听听听听听听听听听 856,693 | ||
Shareholders' equity: | ||||
Common stock | 287 | 286 | ||
Treasury stock | (11,000) | (11,000) | ||
Additional paid in capital | 532,838 | 531,750 | ||
Retained earnings | 380,262 | 382,160 | ||
Accumulated other comprehensive income (loss) | 8,496 | (21,101) | ||
Total shareholders' equity | $听听听听听听听听听听听听听 910,883 | $听听听听听听听听听听听听听 882,095 | ||
Total liabilities and shareholders' equity | $听听听听听听听听听听 1,779,192 | $听听听听听听听听听听 1,738,788 | ||
听
COLUMBUS McKINNON CORPORATION Condensed Consolidated Statements of Cash Flows - UNAUDITED (In thousands) 听 | ||||
Three Months Ended | ||||
June 30, | June 30, | |||
Operating activities: | ||||
Net income (loss) | $听听听听听听听听听听听听听听听 (1,898) | $听听听听听听听听听听听听听听听听听 8,629 | ||
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities: | ||||
Depreciation and amortization | 12,266 | 11,840 | ||
Deferred income taxes and related valuation allowance | (4,669) | 942 | ||
Net loss (gain) on sale of real estate, investments and other | (835) | (124) | ||
Stock-based compensation | 1,842 | 1,101 | ||
Amortization of deferred financing costs | 622 | 622 | ||
Loss (gain) on hedging instruments | 465 | (97) | ||
Non-cash lease expense | 2,412 | 2,584 | ||
Changes in operating assets and liabilities: | ||||
Trade accounts receivable | (8,726) | 3,346 | ||
Inventories | (9,661) | (15,613) | ||
Prepaid expenses and other | (3,015) | (2,222) | ||
Other assets | 758 | (127) | ||
Trade accounts payable | (8,203) | (8,640) | ||
Accrued liabilities | 2,902 | (11,600) | ||
Non-current liabilities | (2,413) | (1,399) | ||
Net cash provided by (used for) operating activities | (18,153) | (10,758) | ||
Investing activities: | ||||
Proceeds from sales of marketable securities | 1,284 | 1,500 | ||
Purchases of marketable securities | (1,299) | (912) | ||
Capital expenditures | (3,202) | (4,629) | ||
Net cash provided by (used for) investing activities | (3,217) | (4,041) | ||
Financing activities: | ||||
Proceeds from the issuance of common stock | 鈥� | 64 | ||
Borrowing / (Repayment) of debt | 2,225 | (20,158) | ||
Payment to former owners of montratec | 鈥� | (6,711) | ||
Fees paid for debt repricing | 鈥� | (169) | ||
Cash inflows from hedging activities | 5,832 | 5,942 | ||
Cash outflows from hedging activities | (6,275) | (5,820) | ||
Payment of dividends | (2,003) | (2,016) | ||
Other | (756) | (1,715) | ||
Net cash provided by (used for) financing activities | (977) | (30,583) | ||
Effect of exchange rate changes on cash | (2,614) | (371) | ||
Net change in cash and cash equivalents | (24,961) | (45,753) | ||
Cash, cash equivalents, and restricted cash at beginning of year | $听听听听听听听听听听听听听听听 53,933 | $听听听听听听听听听听听听听 114,376 | ||
Cash, cash equivalents, and restricted cash at end of period | $听听听听听听听听听听听听听听听 28,972 | $听听听听听听听听听听听听听听听 68,623 | ||
听
COLUMBUS McKINNON CORPORATION Q1听FY 2026 Net Sales Bridge 听 | ||||
Quarter | ||||
($ in millions) | $ Change | % Change | ||
Fiscal 2025 Net Sales | $听听听听听听听听听听听听听听听听听 239.7 | |||
Pricing | 2.4 | 1.0听% | ||
Volume | (9.4) | (3.9)听% | ||
Foreign currency translation | 3.1 | 1.3听% | ||
Total change1 | $听听听听听听听听听听听听听听听听听听听 (3.8) | (1.6)听% | ||
Fiscal 2026 Net Sales | $听听听听听听听听听听听听听听听听听 235.9 | |||
听
COLUMBUS McKINNON CORPORATION Q1听FY 2026 Gross Profit Bridge 听 | ||||
($ in millions) | Quarter | |||
Fiscal 2025 Gross Profit | $听听听听听听听听听听听听听听听听听听听 89.0 | |||
Price, net of manufacturing costs changes (incl. inflation) | (5.7) | |||
Monterrey, MX new factory start-up costs | (0.3) | |||
Factory and warehouse consolidation costs | (0.4) | |||
Sales volume and mix | (5.4) | |||
Other | (1.0) | |||
Foreign currency translation | 1.0 | |||
Total change1 | (11.8) | |||
Fiscal 2026 Gross Profit | $听听听听听听听听听听听听听听听听听听听 77.2 | |||
听
Q1 | Q2 | Q3 | Q4 | Total | ||||||
FY26 | 63 | 63 | 62 | 61 | 249 | |||||
FY25 | 64 | 63 | 62 | 62 | 251 | |||||
______________________ |
1听听听 Components may not add due to rounding. |
听
COLUMBUS McKINNON CORPORATION Additional Data1 (Unaudited) 听 | |||||||||
Period Ended | |||||||||
June 30, 2025 | March 31, 2025 | June 30, 2024 | |||||||
($ in millions) | |||||||||
Backlog | $听听听听听 360.1 | $听听听听听 322.5 | $听听听听听 292.8 | ||||||
Long-term backlog | |||||||||
听 Expected to ship beyond 3 months | $听听听听听 223.4 | $听听听听听 190.3 | $听听听听听 156.0 | ||||||
Long-term backlog as % of total backlog | 62.0 | % | 59.0 | % | 53.3 | % | |||
Debt to total capitalization percentage | 34.2 | % | 34.8 | % | 36.6 | % | |||
Debt, net of cash, to net total capitalization | 32.8 | % | 32.1 | % | 33.3 | % | |||
Working capital as a % of sales | 25.2 | % | 21.3 | % | 22.5 | % | |||
Three Months Ended | |||||||||
June 30, 2025 | March 31, 2025 | June 30, 2024 | |||||||
($ in millions) | |||||||||
Trade accounts receivable | |||||||||
Days sales outstanding | 69.5 | days | 61.0 | days | 63.3 | days | |||
Inventory turns per year | |||||||||
(based on cost of products sold) | 2.9 | turns | 3.4 | turns | 3.0 | turns | |||
Days' inventory | 125.9 | days | 107.4 | days | 121.7 | days | |||
Trade accounts payable | |||||||||
Days payables outstanding | 56.1 | days | 54.9 | days | 50.6 | days | |||
Net cash provided by (used for) operating activities | $听听听听听听 (18.2) | $听听听听听听 35.6 | $听听听听听听 (10.8) | ||||||
Capital expenditures | $听听听听听听听听听 3.2 | $听听听听听听听听 6.1 | $听听听听听听听听听 4.6 | ||||||
Free Cash Flow 2 | $听听听听听听 (21.4) | $听听听听听听 29.5 | $听听听听听听 (15.4) | ||||||
______________________ | |
1听 听 | Additional Data: This data is provided to help investors understand financial and operational metrics that management uses to measure the Company's financial performance and identify trends affecting the business. These measures may not be comparable with or defined in the same manner as other companies. Components may not add due to rounding. |
2听 | Free Cash Flow is a non-GAAP financial measure.听 Free Cash Flow is defined as GAAP net cash provided by (used for) operating activities less capital expenditures included in the investing activities section of the consolidated statement of cash flows.听 See the table above for the calculation of Free Cash Flow. |
NON-GAAP FINANCIAL MEASURES
The following information provides definitions and reconciliations of the non-GAAP financial measures presented in this earnings release to the most directly comparable financial measures calculated and presented in accordance with generally accepted accounting principles (GAAP). The Company has provided this non-GAAP financial information, which is not calculated or presented in accordance with GAAP, as information supplemental and in addition to the financial measures presented in this earnings release that are calculated and presented in accordance with GAAP. Such non-GAAP financial measures should not be considered superior to, as a substitute for or alternative to, and should be considered in conjunction with, the GAAP financial measures presented in this earnings release. The non-GAAP financial measures in this earnings release may differ from similarly titled measures used by other companies.
听
COLUMBUS听McKINNON CORPORATION Reconciliation of Gross Profit to Adjusted Gross Profit ($ in thousands) 听 | |||
Three Months Ended | |||
June 30, 2025 | June 30, 2024 | ||
Gross profit | $听听听听听听听听听听听听 77,222 | $听听听听听听听听听听听听 89,030 | |
Add back (deduct): | |||
Business realignment costs | 1,385 | 392 | |
Factory and warehouse consolidation costs | 425 | 鈥� | |
Monterrey, MX new factory start-up costs | 1,901 | 1,625 | |
Adjusted Gross Profit | $听听听听听听听听听听听听 80,933 | $听听听听听听听听听听听听 91,047 | |
Net sales | $听听听听听听听听听听 235,920 | $听听听听听听听听听听 239,726 | |
Gross margin | 32.7听% | 37.1听% | |
Adjusted Gross Margin | 34.3听% | 38.0听% | |
Adjusted Gross Profit is defined as gross profit as reported, adjusted for certain items.听 Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net sales.听 Adjusted Gross Profit and Adjusted Gross Margin are not measures determined in accordance with GAAP and may not be comparable with Adjusted Gross Profit and Adjusted Gross Margin as used by other companies.听 Nevertheless, Columbus McKinnon believes that providing non-GAAP financial measures, such as Adjusted Gross Profit and Adjusted Gross Margin, are important for investors and other readers of the Company's financial statements and assists in understanding the comparison of the current quarter's gross profit and gross margin to the historical periods' gross profit, as well as facilitates a more meaningful comparison of the Company's gross profit and gross margin to that of other companies.
COLUMBUS McKINNON CORPORATION Reconciliation of Income from Operations to Adjusted Operating Income ($ in thousands) 听 | |||
Three Months Ended | |||
June 30, 2025 | June 30, 2024 | ||
Income from operations | $听听听听听听听听听听听听听听 5,492 | $听听听听听听听听听听听听 21,147 | |
Add back (deduct): | |||
Acquisition deal and integration costs | 8,103 | 鈥� | |
Business realignment costs | 2,525 | 850 | |
Factory and warehouse consolidation costs | 482 | 鈥� | |
Headquarter relocation costs | 鈥� | 96 | |
Monterrey, MX new factory start-up costs | 1,901 | 3,566 | |
Adjusted Operating Income | $听听听听听听听听听听听听 18,503 | $听听听听听听听听听听听听 25,659 | |
Net sales | $听听听听听听听听听听 235,920 | $听听听听听听听听听听 239,726 | |
Operating margin | 2.3听% | 8.8听% | |
Adjusted Operating Margin | 7.8听% | 10.7听% | |
Adjusted Operating Income is defined as income from operations as reported, adjusted for certain items.听 Adjusted Operating Margin is defined as Adjusted Operating Income divided by net sales.听 Adjusted Operating Income and Adjusted Operating Margin are not measures determined in accordance with GAAP and may not be comparable with Adjusted Operating Income and Adjusted Operating Margin as used by other companies.听 Nevertheless, Columbus McKinnon believes that providing non-GAAP financial measures, such as Adjusted Operating Income and Adjusted Operating Margin, are important for investors and other readers of the Company's financial statements and assists in understanding the comparison of the current quarter's income from operations to the historical periods' income from operations and operating margin, as well as facilitates a more meaningful comparison of the Company's income from operations and operating margin to that of other companies.
听
COLUMBUS McKINNON CORPORATION Reconciliation of Net Income and Diluted Earnings per Share to Adjusted Net Income and Adjusted Earnings per Share ($ in thousands, except per share data) 听 | |||
Three Months Ended | |||
June 30, 2025 | June 30, 2024 | ||
Net income (loss) | $听听听听听听听听听听听听听听听 (1,898) | $听听听听听听听听听听听听听听听听听 8,629 | |
Add back (deduct): | |||
Amortization of intangibles | 7,635 | 7,500 | |
Acquisition deal and integration costs | 8,103 | 鈥� | |
Business realignment costs | 2,525 | 850 | |
Factory and warehouse consolidation costs | 482 | 鈥� | |
Headquarter relocation costs | 鈥� | 96 | |
Monterrey, MX new factory start-up costs | 1,901 | 3,566 | |
听听听听 Normalize tax rate1 | (4,492) | (2,595) | |
Adjusted Net Income | $听听听听听听听听听听听听听听听 14,256 | $听听听听听听听听听听听听听听听 18,046 | |
GAAP average diluted shares outstanding | 28,658 | 29,127 | |
Add back: | |||
Effect of dilutive share-based awards | 120 | 鈥� | |
Adjusted Diluted Shares Outstanding | $听听听听听听听听听听听听听听听 28,778 | $听听听听听听听听听听听听听听听 29,127 | |
GAAP EPS | $听听听听听听听听听听听听听听听听听 (0.07) | $听听听听听听听听听听听听听听听听听听 0.30 | |
Adjusted EPS | $听听听听听听听听听听听听听听听听听听听 0.50 | $听听听听听听听听听听听听听听听听听听 0.62 | |
1听听 Applies a normalized tax rate of |
Adjusted Net Income is defined as net income (loss) and GAAP EPS as reported, adjusted for certain items, including amortization of intangibles, and also adjusted for a normalized tax rate. Adjusted Diluted Shares Outstanding is defined as average diluted shares outstanding adjusted for the effect of dilutive share-based awards. Adjusted EPS is defined as Adjusted Net Income per Adjusted Diluted Shares Outstanding. Adjusted Net Income, Adjusted Diluted Shares Outstanding and Adjusted EPS are not measures determined in accordance with GAAP and may not be comparable with the measures used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP financial measures, such as Adjusted Net Income, Adjusted Diluted Shares Outstanding and Adjusted EPS, are important for investors and other readers of the Company's financial statements and assists in understanding the comparison of current periods' net income (loss), average diluted shares outstanding and GAAP EPS to the historical periods' net income (loss), average diluted shares outstanding and GAAP EPS, as well as facilitates a more meaningful comparison of the Company's net income (loss) and GAAP EPS to that of other companies.听 The Company believes that presenting Adjusted Net Income, Adjusted Diluted Shares Outstanding and Adjusted EPS provides a better understanding of its earnings power inclusive of adjusting for the non-cash amortization of intangible assets, reflecting the Company's strategy to grow through acquisitions as well as organically.
COLUMBUS McKINNON CORPORATION Reconciliation of Net Income to Adjusted EBITDA ($ in thousands) 听 | |||
Three Months Ended | |||
June 30, 2025 | June 30, 2024 | ||
Net income (loss) | $听听听听听听听听听听听听 (1,898) | $听听听听听听听听听听听听听听 8,629 | |
Add back (deduct): | |||
Income tax expense (benefit) | 260 | 3,421 | |
Interest and debt expense | 8,698 | 8,235 | |
Investment (income) loss | (1,049) | (209) | |
Foreign currency exchange (gain) loss | (342) | 395 | |
Other (income) expense, net | (177) | 676 | |
Depreciation and amortization expense | 12,266 | 11,840 | |
Acquisition deal and integration costs | 8,103 | 鈥� | |
Business realignment costs | 2,525 | 850 | |
Factory and warehouse consolidation costs | 482 | 鈥� | |
Headquarter relocation costs | 鈥� | 96 | |
Monterrey, MX new factory start-up costs | 1,901 | 3,566 | |
Adjusted EBITDA | $听听听听听听听听听听听听 30,769 | $听听听听听听听听听听听听 37,499 | |
Net sales | $听听听听听听听听听听 235,920 | $听听听听听听听听听听 239,726 | |
Net income margin | (0.8)听% | 3.6听% | |
Adjusted EBITDA Margin | 13.0听% | 15.6听% | |
Adjusted EBITDA is defined as net income (loss) before interest expense, income taxes, depreciation, amortization, and other adjustments.听 Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by net sales.听 Adjusted EBITDA and Adjusted EBITDA Margin are not a measures determined in accordance with GAAP and may not be comparable with Adjusted EBITDA and Adjusted EBITDA Margin as used by other companies.听 Nevertheless, Columbus McKinnon believes that providing non-GAAP financial measures, such as Adjusted EBITDA and Adjusted EBITDA Margin, are important for investors and other readers of the Company's financial statements.
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