Columbus McKinnon Corp. Files Q1 2025 10-Q

TL;DR

CMCO Q1 2025 10-Q filed. Financials look solid.

AI Summary

Columbus McKinnon Corp. reported its first quarter results for the fiscal year ending March 31, 2025, with the period ending June 30, 2024. The company's filing provides financial details for this period, including balance sheet items and operational data. Specific financial figures and performance metrics for the quarter are detailed within the report.

Why It Matters

This filing provides investors with the latest financial performance and position of Columbus McKinnon Corp., crucial for understanding the company's trajectory and making informed investment decisions.

Risk Assessment

Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new risks indicated.

Key Players & Entities

• COLUMBUS MCKINNON CORP (company) — Filer
• 20240630 (date) — Reporting Period End Date
• 20240731 (date) — Filing Date
• 0001005229-24-000234 (other) — Accession Number

FAQ

Key Financial Figures

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

Filing Documents

• cmco-20240630.htm (10-Q) — 933KB
• exhibit3116302024.htm (EX-31.1) — 11KB
• exhibit3126302024.htm (EX-31.2) — 11KB
• exhibit326302024.htm (EX-32) — 6KB
• 0001005229-24-000234.txt ( ) — 6943KB
• cmco-20240630.xsd (EX-101.SCH) — 45KB
• cmco-20240630_cal.xml (EX-101.CAL) — 75KB
• cmco-20240630_def.xml (EX-101.DEF) — 263KB
• cmco-20240630_lab.xml (EX-101.LAB) — 682KB
• cmco-20240630_pre.xml (EX-101.PRE) — 480KB
• cmco-20240630_htm.xml (XML) — 890KB

Financial Information

Part I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited). Condensed consolidated balance sheets - June 30, 2024 and March 31, 2024 5 Condensed consolidated statements of operations - Three months ended June 30, 2024 and June 30, 2023 6 Condensed consolidated statements of comprehensive income (loss) - Three months ended June 30, 2024 and June 30, 2023 7 Condensed consolidated statements of shareholders' equity - Three months ended June 30, 2024 and June 30, 2023 8 Condensed consolidated statements of cash flows - Three months ended June 30, 2024 and June 30, 2023 10 Notes to condensed consolidated financial statements - June 30, 2024 11

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 . 34

Controls and Procedures

Item 4. Controls and Procedures . 34

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings. 35

Risk Factors

Item 1A. Risk Factors . 35

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 35

Defaults U pon Senior Securities

Item 3. Defaults U pon Senior Securities. 35

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 35

Other Information

Item 5. Other Information. 35

Exhibits

Item 6. Exhibits . 36 2

Forward-Looking Statements

Forward-Looking Statements This Quarterly Report on Form 10-Q contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, 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-Q 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, the amount of costs expected to be incurred by the Company in connection with the relocation of its North American Linear Motion operations in Charlotte, North Carolina to its manufacturing facility in Monterrey, Mexico, strategies, plans for enhancing shareholder value, pending acquisitions, our expected amount of capital expenditures and pension contributions for fiscal 2025, our expected effective tax rate for fiscal 2025, the timing for completion of the termination of one of the Company's U.S. pension plans and the recording of an associated settlement charge,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

Financial Information

Part I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited). COLUMBUS McKINNON CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2024 March 31, 2024 (unaudited) ASSETS: (In thousands) Current assets: Cash and cash equivalents $ 68,373 $ 114,126 Trade accounts receivable, less allowance for doubtful accounts ($ 3,778 and $ 3,827 , respectively) 166,844 171,186 Inventories 200,894 186,091 Prepaid expenses and other 42,200 42,752 Total current assets 478,311 514,155 Property, plant, and equipment, net 105,868 106,395 Goodwill 708,571 710,334 Other intangibles, net 377,551 385,634 Marketable securities 10,860 11,447 Deferred taxes on income 1,595 1,797 Other assets 98,901 96,183 Total assets $ 1,781,657 $ 1,825,945 LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Trade accounts payable $ 73,224 $ 83,118 Accrued liabilities 107,594 127,973 Current portion of long-term debt and finance lease obligations 50,687 50,670 Total current liabilities 231,505 261,761 Term loan, AR securitization facility and finance lease obligations 459,743 479,566 Other non current liabilities 204,603 202,555 Total liabilities 895,851 943,882 Shareholders' equity: Voting common stock; 50,000,000 shares authorized; 28,866,233 and 28,799,110 shares issued and outstanding 289 288 Treasury stock ( 1,001 ) ( 1,001 ) Additional paid in capital 526,574 527,125 Retained earnings 403,957 395,328 Accumulated other comprehensive loss ( 44,013 ) ( 39,677 ) Total shareholders' equity 885,806 882,063 Total liabilities and shareholders' equity $ 1,781,657 $ 1,825,945 See accompanying notes. 5 COLUMBUS McKINNON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended June 30, 2024 June 30, 2023 (In thousands, except per share data) Net sales $ 239,726 $ 235,492 Cost of products sold 150,696 148,843 Gross profit 89,030 86,649 Selling expenses 27,770 24,981 General and administrative expenses 26,447 27,443 Research and de

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