Columbus McKinnon Corp. Files 10-Q for Period Ending December 31, 2023

AI Summary

COLUMBUS MCKINNON CORP (CMCO) filed a Quarterly Report (10-Q) with the SEC on January 31, 2024. Columbus McKinnon Corp. filed a 10-Q report for the period ending December 31, 2023. The filing covers the third quarter of their fiscal year. The company's fiscal year ends on March 31st. The filing was made on January 31, 2024. The company is incorporated in New York.

Why It Matters

For investors and stakeholders tracking COLUMBUS MCKINNON CORP, this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational updates for Columbus McKinnon Corp. during the third quarter of their fiscal year. Understanding the details within this report is crucial for assessing the company's current financial health, strategic direction, and potential future performance.

Risk Assessment

Risk Level: low — COLUMBUS MCKINNON CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) which typically contains routine financial information and does not indicate any unusual or significant events.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance drivers and outlook.

Key Numbers

• 2023-12-31 — Period End Date (CONFORMED PERIOD OF REPORT)
• 2024-01-31 — Filing Date (FILED AS OF DATE)
• 0331 — Fiscal Year End (FISCAL YEAR END)

Key Players & Entities

• COLUMBUS MCKINNON CORP (company) — FILER
• CMCO (company) — Ticker Symbol
• 10-Q (filing) — FORM TYPE
• 20231231 (date) — CONFORMED PERIOD OF REPORT
• 20240131 (date) — FILED AS OF DATE
• NY (location) — STATE OF INCORPORATION

FAQ

Industry Context

Columbus McKinnon Corp. operates in the construction machinery and equipment industry.

Regulatory Implications

The company is subject to standard SEC reporting requirements for publicly traded companies.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into performance drivers and risks.
3. Check for any significant changes in balance sheet items like debt or equity.

Key Dates

• 2023-12-31: End of Reporting Period — Third quarter of fiscal year 2023
• 2024-01-31: Filing Date — Date the 10-Q was submitted to the SEC

Year-Over-Year Comparison

This is the 10-Q filing for the period ending December 31, 2023, following previous filings for the fiscal year.

Key Financial Figures

• $0.01 — ange on which registered Common Stock, $0.01 par value per share CMCO Nasdaq Global

Filing Documents

• cmco-20231231.htm (10-Q) — 1235KB
• exhibit31112312023.htm (EX-31.1) — 11KB
• exhibit31212312023.htm (EX-31.2) — 11KB
• exhibit3212312023.htm (EX-32.1) — 6KB
• 0001005229-24-000016.txt ( ) — 7928KB
• cmco-20231231.xsd (EX-101.SCH) — 47KB
• cmco-20231231_cal.xml (EX-101.CAL) — 77KB
• cmco-20231231_def.xml (EX-101.DEF) — 305KB
• cmco-20231231_lab.xml (EX-101.LAB) — 772KB
• cmco-20231231_pre.xml (EX-101.PRE) — 515KB
• cmco-20231231_htm.xml (XML) — 1142KB

Financial Information

Part I. Financial Information

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited). Condensed consolidated balance sheets - December 31, 2023 and March 31, 2023 3 Condensed consolidated statements of operations - Three and nine months ended December 31, 2023 and December 31, 2022 4 Condensed consolidated statements of comprehensive income (loss) - Three and nine months ended December 31, 2023 and December 31, 2022 5 Condensed consolidated statements of shareholders' equity - Three and nine months ended December 31, 2023 and December 31, 2022 6 Condensed consolidated statements of cash flows - Nine months ended December 31, 2023 and December 31, 2022 8 Notes to condensed consolidated financial statements - December 31, 2023 9

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations . 30

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk . 36

Controls and Procedures

Item 4. Controls and Procedures . 36

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings. 37

Risk Factors

Item 1A. Risk Factors . 37

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 37

Defaults U pon Senior Securities

Item 3. Defaults U pon Senior Securities. 37

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 37

Other Information

Item 5. Other Information. 37

Exhibits

Item 6. Exhibits . 38 2

Financial Information

Part I. Financial Information

Condensed Consolidated Financial Statements (Unaudited)

Item 1. Condensed Consolidated Financial Statements (Unaudited). COLUMBUS McKINNON CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS December 31, 2023 March 31, 2023 (unaudited) ASSETS: (In thousands) Current assets: Cash and cash equivalents $ 102,945 $ 133,176 Trade accounts receivable, less allowance for doubtful accounts ($ 3,955 and $ 3,620 , respectively) 173,411 151,451 Inventories 204,396 179,359 Prepaid expenses and other 35,660 32,254 Total current assets 516,412 496,240 Property, plant, and equipment, net 102,729 94,360 Goodwill 728,427 644,629 Other intangibles, net 396,317 362,537 Marketable securities 12,388 10,368 Deferred taxes on income 1,990 2,035 Other assets 99,047 88,286 Total assets $ 1,857,310 $ 1,698,455 LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Trade accounts payable $ 76,151 $ 76,736 Accrued liabilities 142,518 124,317 Current portion of long-term debt and finance lease obligations 50,652 40,604 Total current liabilities 269,321 241,657 Term loan, AR securitization facility and finance lease obligations 499,388 430,988 Other non current liabilities 210,164 192,013 Total liabilities 978,873 864,658 Shareholders' equity: Voting common stock; 50,000,000 shares authorized; 28,755,651 and 28,611,721 shares issued and outstanding 288 286 Treasury stock ( 1,001 ) ( 1,001 ) Additional paid in capital 522,587 515,797 Retained earnings 387,550 356,758 Accumulated other comprehensive loss ( 30,987 ) ( 38,043 ) Total shareholders' equity 878,437 833,797 Total liabilities and shareholders' equity $ 1,857,310 $ 1,698,455 See accompanying notes. 3 COLUMBUS McKINNON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Nine Months Ended December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 (In thousands, except per share data) Net sales 254,143 230,370 748,036 682,397 Cost of products sold 160,246 148,326 467,513 431,516 Gross prof

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