CHARLOTTE, N.C. - Columbus McKinnon Corporation (NASDAQ: CMCO), a global leader in intelligent motion solutions for material handling, reported fourth-quarter earnings per share (EPS) of $0.75, falling short of analysts' expectations by $0.09.
The company's revenue for the quarter was $265.5 million, slightly above the consensus estimate of $264.85 million.
Despite missing on EPS, the company's fourth-quarter revenue marked a 4.6% increase compared to the same quarter last year, with the acquisition of montratec contributing $4.9 million, or 1.9%, to the growth. U.S. sales rose by 3.7%, while non-U.S. sales saw a 5.8% uptick, reflecting a robust performance across all geographies and particularly in precision conveyance, which surged by 23%.
President and CEO David J. Wilson commented on the results, stating, "Our team delivered another record year of sales, gross margin, operating income, and Adjusted EBITDA Margin reflecting the solid progress we are making with our transformation." Wilson also noted that while the company is cautious about the outlook for fiscal 2025, there is cautious optimism given the strong momentum at the end of fiscal 2024 and an encouraging pipeline of opportunities.
For fiscal 2025, Columbus McKinnon projects low-single digit growth in net sales year-over-year and anticipates mid to high-single digit growth for adjusted EPS. The company's guidance assumes approximately $9 million of interest expense, $8 million of amortization, an effective tax rate of 25%, and 29.2 million diluted average shares outstanding.
Columbus McKinnon's financial strength is further underscored by a record net leverage ratio decrease to 2.4x, with expectations to reach approximately 2.0x by the end of fiscal 2025. The company's focus remains on executing commercial and operational initiatives to improve productivity, reduce lead times, and enhance customer experience.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.