Columbus McKinnon Files 2024 Annual Report

Ticker: CMCO · Form: 10-K · Filed: May 29, 2024 · CIK: 1005229

Columbus Mckinnon Corp 10-K Filing Summary
FieldDetail
CompanyColumbus Mckinnon Corp (CMCO)
Form Type10-K
Filed DateMay 29, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$0.01, $5 billion, $574,843,000, $438,697,000
Sentimentneutral

Sentiment: neutral

Topics: annual-report, sec-filing, financials

Related Tickers: CMCO

TL;DR

CMCO filed its 2024 10-K, all good on reporting requirements.

AI Summary

Columbus McKinnon Corporation (CMCO) filed its annual report for the fiscal year ended March 31, 2024. The company is registered with the SEC under file number 001-34362 and its common stock trades on the Nasdaq Global Select Market under the symbol CMCO. The filing indicates that CMCO has met all reporting requirements for the preceding 12 months and the past 90 days, and has submitted all required Interactive Data Files electronically.

Why It Matters

This 10-K filing provides a comprehensive overview of Columbus McKinnon's financial performance and business operations for the fiscal year, which is crucial for investors to assess the company's health and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant new risks.

Key Numbers

  • $0.01 — par value per share (Common Stock detail)

Key Players & Entities

  • COLUMBUS McKINNON CORPORATION (company) — Registrant
  • CMCO (company) — Trading Symbol
  • Nasdaq Global Select Market (company) — Exchange
  • March 31, 2024 (date) — Fiscal Year End
  • 001-34362 (other) — Commission file number

FAQ

What is the primary purpose of this Form 10-K filing?

This Form 10-K is an annual report required by Section 13 or 15(d) of the Securities Exchange Act of 1934, providing a comprehensive overview of Columbus McKinnon Corporation's business and financial condition for the fiscal year ended March 31, 2024.

On which exchange is Columbus McKinnon Corporation's common stock traded?

Columbus McKinnon Corporation's common stock, with a par value of $0.01 per share, is traded on the Nasdaq Global Select Market under the trading symbol CMCO.

Has Columbus McKinnon Corporation met its filing obligations for the past year?

Yes, the filing indicates that Columbus McKinnon Corporation has filed all reports required by Section 13 or 15(d) of the Exchange Act during the preceding 12 months and has been subject to these filing requirements for the past 90 days.

What is the company's state of incorporation and IRS Employer Identification Number?

Columbus McKinnon Corporation is incorporated in New York and has an I.R.S. Employer Identification Number of 16-0547600.

Does the company submit its Interactive Data Files electronically?

Yes, the filing indicates that Columbus McKinnon Corporation has submitted electronically every Interactive Data File required pursuant to Rule 405 of Regulation S-T during the preceding 12 months.

Filing Stats: 4,321 words · 17 min read · ~14 pages · Grade level 16.4 · Accepted 2024-05-29 16:46:03

Key Financial Figures

  • $0.01 — ange on which registered Common Stock, $0.01 par value per share CMCO Nasdaq Global
  • $5 billion — innon's core, which added approximately $5 billion to our TAM, with the specialty conveyin
  • $574,843,000 — Products Of our fiscal 2024 sales, $574,843,000, or 57%, were U.S. and $438,697,000 or
  • $438,697,000 — es, $574,843,000, or 57%, were U.S. and $438,697,000 or 43% were non-U.S. The following tabl

Filing Documents

Risk Factors

Item 1A. Risk Factors 12

Unresolved Staff Comments

Item 1B. Unresolved Staff Comments 20

Cybersecurity

Item 1C. Cybersecurity 20

Properties

Item 2. Properties 22

Legal Proceedings

Item 3. Legal Proceedings 23

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 23 Part II

Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities

Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 24

[Reserved]

Item 6. [Reserved] 25

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 26

Quantitative and Qualitative Disclosures About Market Risk

Item 7A. Quantitative and Qualitative Disclosures About Market Risk 32

Financial Statements and Supplementary Data

Item 8. Financial Statements and Supplementary Data 34

Changes in and Disagreements With Accountants on Accounting and Financial Disclosure

Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 90

Controls and Procedures

Item 9A. Controls and Procedures 90

Other Information

Item 9B. Other Information 92

Disclosure Regarding Foreign Jurisdictions that Prevent Inspections

Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 92 Part III.

Directors, Executive Officers and Corporate Governance

Item 10. Directors, Executive Officers and Corporate Governance 92

Executive Compensation

Item 11. Executive Compensation 92

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Item 12. Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 92

Certain Relationships and Related Transactions, and Director Independence

Item 13. Certain Relationships and Related Transactions, and Director Independence 92

Principal Accountant Fees and Services

Item 14. Principal Accountant Fees and Services 92 Part IV

Exhibit and Financial Statement Schedules

Item 15. Exhibit and Financial Statement Schedules 93

Form 10-K Summary

Item 16. Form 10-K Summary 96 2 COLUMBUS McKINNON CORPORATION 2024 Annual Report on Form 10-K This Annual Report on Form 10-K (this "Form 10-K") contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended ("the Exchange Act"), and are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical or current fact, included in this Form 10-K are forward-looking statements. Forward-looking statements reflect our current expectations and projections relating to our financial condition, results of operations, plans, objectives, future performance and business. These statements can be identified by the use of forward-looking words, such as "anticipate," "estimate," "expect," "project," "plan," "intend," "believe," "may," "will," "should," "can have," "future," "likely" and other words and terms of similar meaning (including their negative counterparts or other various or comparable terminology). For example, all statements we make relating to our plans and objectives for future operations, growth results, or initiatives, strategies, plans for enhancing shareholder value, the amount of capital expenditures in fiscal 2025, pending acquisitions, the amount of future dividend payments in fiscal 2025 and beyond or the expected outcome or impact of pending or threatened litigation are forward-looking statements. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected, including: the cyclical nature of our business and general macroeconomic conditions; increased competition with respect to our business, including with respect to our material handling and precision conveyance products; our ability to successfully integrate our acquisitions; pri

Business

Item 1. Business General Columbus McKinnon Corporation ("Columbus McKinnon" or the "Company") 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. These are highly relevant, professional-grade solutions that solve our customers' critical material handling requirements. The Company is focused on commercial and industrial applications that require the safety, reliability and quality provided by its superior design and engineering know-how. Our products are used for mission critical applications where we have established, trusted brands that are well known in the industry. Our targeted market verticals include manufacturing, transportation including EV production and aerospace, energy and utilities, process industries, industrial automation, construction and infrastructure, food and beverage, entertainment, life sciences, consumer packaged goods and e-commerce/supply chain/warehousing. In fiscal 2022, the Company initiated a new long-term strategy to transform from a legacy cyclical industrial company to a high growth, high margin secular growth company. The Company expanded into the precision conveyance sector with its acquisitions of Dorner Mfg. Corp. ("Dorner") and Garvey Corporation ("Garvey"). Dorner is a leading automation solutions company providing unique, patented technologies in the design, application, manufacturing and integration of high-precision conveying systems. Dorner is a leading supplier to the stable life sciences, food processing, and consumer packaged goods markets as well as the higher growth industrial automation and e-commerce sectors. The addition of Dorner has provided attractive complementary adjacencies to t

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