Columbus McKinnon Corp. Files Q2 2024 10-Q

TL;DR

CMCO Q2 24 10-Q filed. Financials look steady, check debt levels.

AI Summary

Columbus McKinnon Corp. reported its second quarter results for the period ending September 30, 2024. The company's filing provides financial details for this period, including balance sheet items and debt obligations. Specific financial figures and operational details are available within the full 10-Q filing.

Why It Matters

This filing provides investors with the latest financial performance and position of Columbus McKinnon Corp., crucial for understanding the company's health and future prospects.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information without immediate, significant negative or positive indicators.

Key Numbers

• N/A — Revenue (Specific revenue figures are not detailed in this header information.)
• N/A — Net Income (Specific net income figures are not detailed in this header information.)
• N/A — Total Assets (Specific total asset figures are not detailed in this header information.)
• N/A — Total Liabilities (Specific total liability figures are not detailed in this header information.)

Key Players & Entities

• COLUMBUS MCKINNON CORP (company) — Filer
• 0001005229-24-000284 (filing_id) — Accession Number
• 20240930 (date) — Fiscal Period End
• 20241030 (date) — Filing Date
• 3531 (sic_code) — Standard Industrial Classification
• NY (state) — State of Incorporation
• 0331 (fiscal_year_end) — Fiscal Year End
• 7166895400 (phone_number) — Business Phone

FAQ

Key Financial Figures

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

Filing Documents

• cmco-20240930.htm (10-Q) — 1164KB
• exhibit3119302024.htm (EX-31.1) — 11KB
• exhibit3129302024.htm (EX-31.2) — 11KB
• exhibit329302024.htm (EX-32) — 6KB
• 0001005229-24-000284.txt ( ) — 7706KB
• cmco-20240930.xsd (EX-101.SCH) — 46KB
• cmco-20240930_cal.xml (EX-101.CAL) — 78KB
• cmco-20240930_def.xml (EX-101.DEF) — 269KB
• cmco-20240930_lab.xml (EX-101.LAB) — 707KB
• cmco-20240930_pre.xml (EX-101.PRE) — 493KB
• cmco-20240930_htm.xml (XML) — 1106KB

Financial Information

Part I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited). Condensed consolidated balance sheets - September 30, 2024 and March 31, 2024 5 Condensed consolidated statements of operations - Three months ended and Six months ended September 30, 2024 and September 30, 2023 6 Condensed consolidated statements of comprehensive income (loss) - Three months ended and Six months ended September 30, 2024 and September 30, 2023 7 Condensed consolidated statements of shareholders' equity - Three months ended and Six months ended September 30, 2024 and September 30, 2023 8 Condensed consolidated statements of cash flows - Six months ended September 30, 2024 and September 30, 2023 10 Notes to condensed consolidated financial statements - September 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 . 32

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk . 37

Controls and Procedures

Item 4. Controls and Procedures . 37

Other Information

Part II. Other Information

Legal Proceedings

Item 1. Legal Proceedings. 38

Risk Factors

Item 1A. Risk Factors . 38

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 38

Defaults U pon Senior Securities

Item 3. Defaults U pon Senior Securities. 38

Mine Safety Disclosures

Item 4. Mine Safety Disclosures. 38

Other Information

Item 5. Other Information. 38

Exhibits

Item 6. Exhibits . 39 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, 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, our future management of our fixed rate and variable rate long-term debt, the financial impact of any foreign jurisdiction's adoption of minimum effective tax rates as established by the Organization for Economic Co-operation and Development's Pillar Two Framework, 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 busi

Financial Information

Part I. Financial Information

Financial Statements (Unaudited)

Item 1. Financial Statements (Unaudited). COLUMBUS McKINNON CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 March 31, 2024 (unaudited) ASSETS: (In thousands) Current assets: Cash and cash equivalents $ 55,683 $ 114,126 Trade accounts receivable, less allowance for doubtful accounts ($ 3,657 and $ 3,827 , respectively) 170,669 171,186 Inventories 201,036 186,091 Prepaid expenses and other 40,357 42,752 Total current assets 467,745 514,155 Property, plant, and equipment, net 107,258 106,395 Goodwill 717,982 710,334 Other intangibles, net 375,598 385,634 Marketable securities 10,579 11,447 Deferred taxes on income 1,367 1,797 Other assets 96,355 96,183 Total assets $ 1,776,884 $ 1,825,945 LIABILITIES AND SHAREHOLDERS' EQUITY: Current liabilities: Trade accounts payable $ 72,106 $ 83,118 Accrued liabilities 106,847 127,973 Current portion of long-term debt and finance lease obligations 50,704 50,670 Total current liabilities 229,657 261,761 Term loan, AR securitization facility and finance lease obligations 449,910 479,566 Other non current liabilities 201,187 202,555 Total liabilities 880,754 943,882 Shareholders' equity: Voting common stock; 50,000,000 shares authorized; 28,745,933 and 28,799,110 shares issued and outstanding 287 288 Treasury stock ( 5,946 ) ( 1,001 ) Additional paid in capital 529,599 527,125 Retained earnings 386,892 395,328 Accumulated other comprehensive loss ( 14,702 ) ( 39,677 ) Total shareholders' equity 896,130 882,063 Total liabilities and shareholders' equity $ 1,776,884 $ 1,825,945 See accompanying notes. 5 COLUMBUS McKINNON CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Six Months Ended September 30, 2024 September 30, 2023 September 30, 2024 September 30, 2023 (In thousands, except per share data) Net sales $ 242,274 $ 258,400 $ 482,000 $ 493,892 Cost of products sold 167,531 158,424 318,227 307,266 Gross profit 74,743 9

View Full Filing

View this 10-Q filing on SEC EDGAR