Columbus McKinnon reports record Q2 sales $258.4M; operating income up 22%

COLUMBUS MCKINNON CORP

2023-Q2 EPS reported $0.87 revenue$493,892,000

Record revenue $258.4M, up 11.5% YoY; record gross margin 38.7% (+190 bps sequentially).
Operating income $33.4M (+22%); adjusted EPS $0.76 vs $0.73; GAAP EPS $0.55 vs $0.49.
Paid down $15M debt; increased FY2024 debt pay down plan by $10M to $50M.
Q3 FY2024 sales guidance $245-255M (~9% YoY growth at midpoint); FY2024 revenue expected above $1B.
Montratec acquisition contributed $9.5M to Q2 sales; CMBS driving margin expansion.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

COLUMBUS MCKINNON CORP reported the second quarter ended September 30, 2023 results: revenue $258.4 million, net income $15.8 million, EPS $0.55. Guidance raised.

Period: the second quarter ended September 30, 2023
Revenue: $258.4 million
Net income: $15.8 million
EPS: $0.55
Guidance: raised
Result: reported results

Exact text from the filing

acquired on May 31, 2023 ("the acquisition"). Second Quarter Highlights (compared with prior-year period, except where otherwise noted) • Growth strategy drives record sales of $258.4 million, up 12% over same period in the prior year • CMBS enables record gross margin of 38.7%; 190 basis point margin expansion sequentially • Record operating income of $33.4 million,

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Source: SEC EDGAR

accession 0001005229-23-000270

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