Fourth Quarter Fiscal 2026 Highlights (compared with prior year period)
Closed the transformational Kito Crosby Acquisition1 and Divestiture2 (each as defined herein)
Orders of $442.8 million increased 68% primarily due to the impact of the Kito Crosby Acquisition1; Backlog of $519.6 million with Legacy CMCO3 backlog of $319.7 million and including $199.9 million from Kito Crosby
Net sales of $437.8 million increased 77% primarily due to the impact of the Kito Crosby Acquisition1 with a 7% increase in Legacy CMCO Net Sales4
Net loss attributable to the Company of $238 million with a net loss margin of 54.4% includes a non-cash goodwill impairment of $200.0 million resulting from the Company's sustained stock price decline, $36.8 million of inventory step-up amortization expense as well as $68.1 million of deal-related costs, partially offset by a gain on the Divestiture2 of $103.3 million5
Adjusted EBITDA4 of $68.7 million with Adjusted EBITDA Margin4 of 15.7%, up 130 basis points benefiting from the Kito Crosby Acquisition1
GAAP Loss Per Common Share of $5.78 and Adjusted EPS4 of $0.24, down $0.36 primarily driven by the inclusion of 13.7 million shares of common stock issuable upon conversion of Preferred Shares6 in the computation of Adjusted EPS and incremental interest expense related to the Kito Crosby Acquisition1
Fiscal Year 2026 Highlights (compared with prior year period)
Record orders of $1.2 billion increased 20% primarily due to the Kito Crosby Acquisition1
Net sales of $1.2 billion increased 24% primarily due to the Kito Crosby Acquisition1 with a 7% increase in Legacy CMCO Net Sales4
Net loss attributable to the Company of $230 million with a net loss margin of 19.2% resulting from the same items highlighted with respect to the quarter plus an additional $24.4 million of deal-related costs incurred earlier in the fiscal year5
Adjusted EBITDA4 of $181.4 million with Adjusted EBITDA Margin4 of 15.2%, including tariff and unfavorable product sales mix impacts
GAAP Loss Per Common Share of $7.40 and Adjusted EPS4 of $1.87, down $0.61 impacted by the inclusion of 3.4 million shares of common stock issuable upon conversion of Preferred Shares6 in the computation of Adjusted EPS and incremental interest expense related to the Kito Crosby Acquisition1
"Fiscal 2026 was a defining year marked by meaningful strategic progress and disciplined execution across our operational, commercial, and customer experience priorities," said David J. Wilson, President and Chief Executive Officer. "We completed the Kito Crosby Acquisition and immediately established a blended organization that brought together the strengths, capabilities, and cultures of both companies. Importantly, we are making solid integration progress and our teams are executing with urgency and discipline, capturing synergies, aligning systems and processes, and building a unified operating model that is accelerating value creation. The combination is already enhancing scale, expanding global reach, and strengthening our ability to serve customers with differentiated solutions."
"While our fourth quarter performance was impacted amid a challenging macroeconomic and geopolitical environment, we enter fiscal 2027 with momentum and multiple avenues for growth and margin expansion," continued Wilson. "As we look ahead, we are encouraged by our growth and margin expansion prospects for Fiscal Year 2027, supported by encouraging demand trends, continued operational improvement and the benefits of our integration and portfolio actions. We remain focused on driving profitable growth, advancing our strategy, accelerating debt repayment and delivering compelling returns for our shareholders."
Fourth Quarter Fiscal 2026 Sales
($ in millions)
Q4 FY26
Q4 FY25
Change
% Change
Net sales
$ 437.8
$ 246.9
$ 190.9
77.3 %
U.S. sales
$ 234.3
$ 139.4
$ 94.9
68.1 %
% of total
54 %
56 %
Non-U.S. sales
$ 203.5
$ 107.5
$ 96.0
89.3 %
% of total
46 %
44 %
For the quarter, net sales increased $190.9 million, or 77.3%. In the U.S., sales were up $94.9 million, or 68.1%, driven by the Kito Crosby Acquisition1, partially offset by the Divestiture2. Sales outside the U.S. increased $96.0 million, or 89.3%, driven by the Kito Crosby Acquisition1 and positive foreign exchange impact.
Fourth Quarter Fiscal 2026 Operating Results
($ in millions)
Q4 FY26
Q4 FY25
Change
% Change
Gross profit
$ 102.9
$ 79.8
$ 23.1
28.9 %
Gross margin
23.5 %
32.3 %
(880) bps
Adjusted Gross Profit4
$ 143.1
$ 87.0
$ 56.1
64.5 %
Adjusted Gross Margin4
32.7 %
35.2 %
(250) bps
Net (loss) income
$ (238.1)
$ (2.7)
$ (235.4)
NM
Net (loss) income margin
(54.4) %
(1.1) %
NM
Adjusted Net Income4
$ 10.4
$ 17.3
$ (6.9)
(39.8) %
GAAP Loss Per Common Share
$ (5.78)
$ (0.09)
$ (5.69)
NM
Adjusted EPS4
$ 0.24
$ 0.60
$ (0.36)
(60.0) %
Adjusted EBITDA4
$ 68.7
$ 35.6
$ 33.1
92.8 %
Adjusted EBITDA Margin4
15.7 %
14.4 %
130 bps
Adjusted EPS4 excludes, among other adjustments, amortization of intangible assets. The Company believes this better represents its inherent earnings power and cash generation capability.
Capital, Liquidity and Cash Flow
The Company ended the fiscal year with a Credit Agreement Net Leverage Ratio4 of 5.1x and total liquidity of $561.2 million consisting of $96.6 million of cash and cash equivalents, $458.9 million of availability on the Company's revolving credit facility and $5.7 million of availability on the Company's AR securitization facility.
Net cash used for operating activities for the fiscal year was $146.2 million and capital expenditures were $17.9 million resulting in a Free Cash Flow4 use of $164.1 million. Adjusting for $204.9 million of Kito Crosby Acquisition related cash payments and $27.2 million of Divestiture-related cash payments, Free Cash Flow Excluding Deal Costs4 was $68.0 million. Free Cash Flow Excluding Deal Costs4 increased 171% from the prior fiscal year on a comparable basis.
The Company remains committed to allocating capital to pay down debt to deleverage its balance sheet in the near term while continuing its track record of consistent dividend payment. Over time, the Company believes it will be positioned to utilize its expected significant Free Cash Flow generation to advance its Intelligent Motion strategy across the fragmented marketplace.
Fiscal Year 2027 Guidance
The Company's outlook for fiscal 2027 reflects both the Kito Crosby Acquisition and the Divestiture.
The Company is issuing the following guidance for fiscal 2027, ending March 31, 2027:
Metric
FY27
Net sales
$2.05 billion to $2.12 billion
Adjusted EBITDA7
$390 million to $410 million
Adjusted EPS7
$1.70 to $1.90
Fiscal 2027 guidance assumes approximately:
$185 million to $190 million of interest expense,
$135 million to $140 million of amortization expense,
$75 million to $80 million of depreciation expense,
an effective tax rate of 25%, and
52 million Adjusted Diluted Shares Outstanding7 as a result of the Company's expectation that the dividends payable on the Preferred Shares6 will be accrued, accumulated and compounded, rather than being paid in cash during fiscal 2027.
Teleconference and Webcast
Columbus McKinnon will host a conference call today at 10:00 A.M. Eastern Time to discuss the Company's financial results and strategy. The conference call, earnings release and earnings presentation will be accessible through live webcast on the Company's investor relations website at investors.cmco.com. A replay of the webcast will also be archived on the Company's investor relations website through June 18, 2026.
About Columbus McKinnon
Columbus McKinnon 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, lifting hardware and securement, light rail workstations and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available at www.cmco.com.
_____________________
1
On February 3, 2026, the Company closed on the acquisition of Kito Crosby Limited (the "Kito Crosby Acquisition").
2
As part of the Kito Crosby Acquisition, the Company was required to divest its U.S. power chain hoist (other than with respect to Little Mule products) and chain manufacturing operations, which closed on March 4, 2026 (the "Divestiture").
3
"Legacy CMCO" is defined as reported Columbus McKinnon adjusting for the removal of the Divestiture and the Kito Crosby Acquisition in all comparable periods.
4
Adjusted Gross Profit, Adjusted Gross Margin, Adjusted Net Income, Adjusted EPS, Adjusted EBITDA, Adjusted EBITDA Margin, Legacy CMCO Net Sales, Free Cash Flow, Free Cash Flow Excluding Deal Costs, and Credit Agreement Net Leverage Ratio are non-GAAP financial measures. See accompanying discussion and reconciliation tables provided in this release for reconciliations of these non-GAAP financial measures to the closest corresponding GAAP financial measures.
5
Each expense listed is presented prior to tax effect.
6
800,000 Series A Cumulative Convertible Participating Preferred Shares of the Company, par value $1.00 per share (the "Preferred Shares").
7
The Company has not reconciled its Adjusted EBITDA, Adjusted EPS or Adjusted Diluted Shares Outstanding guidance for fiscal 2027 to the most comparable GAAP outlook because it is not possible to do so without unreasonable efforts due to the uncertainty and potential variability of reconciling items, which are dependent on future events and often outside of management's control and which could be significant. Because such items cannot be reasonably predicted with the level of precision required, we are unable to provide guidance for the comparable GAAP financial measures. Forward-looking guidance regarding Adjusted EBITDA, Adjusted EPS and Adjusted Diluted Shares Outstanding are made in a manner consistent with the relevant definitions and assumptions noted herein.
Safe Harbor Statement
This news release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "continue," "could," "estimate," "expect," "illustrative," "intend," "likely," "may," "opportunity," "plan," "possible," "potential," "predict," "project," "shall," "should," "target," "will," "would" and, in each case, their negative or other various or comparable terminology. All statements other than statements of historical facts contained in this release, including, but are not limited to, statements relating to: (i) our strategy, outlook and growth prospects, including the Company's full year fiscal 2027 guidance, consisting of net sales, Adjusted EBITDA and Adjusted EPS for fiscal 2027, as well as the associated assumed inputs for fiscal 2027 regarding interest expense, amortization expense, depreciation expense, effective tax rate and Adjusted Diluted Shares Outstanding; (ii) our operational and financial targets and capital distribution policy, including regarding our expectation that the dividends payable on the Preferred Shares will be accrued, accumulated and compounded, rather than being paid in cash, during fiscal 2027; (iii) general economic trend and trends in the industry and markets; (iv) our ability to successfully integrate the Kito Crosby Acquisition and achieve targeted net cost synergies; (v) our ability to expand margins in future periods; and (vi) the competitive environment in which we operate are forward looking statements. Forward-looking statements are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions, and involve known and unknown risks, uncertainties and other factors that could cause the actual results, performance or achievements of the Company to differ materially from any future results, performance or achievements expressed or implied by the forward-looking statements. It is not possible to predict or identify all such risks. These risks include, but are not limited to, the risk factors that are described under the section titled "Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended March 31, 2025 as well as in our other filings with the Securities and Exchange Commission, which are available on its website at www.sec.gov. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date they are made. Columbus McKinnon undertakes no duty to update publicly any such forward-looking statement, whether as a result of new information, future events or otherwise, except as may be required by applicable law, regulation or other competent legal authority.
Contacts:
Gregory P. Rustowicz
Kristine Moser
EVP Finance and CFO
VP IR and Treasurer
Columbus McKinnon Corporation
Columbus McKinnon Corporation
716-689-5442
704-322-2488
[email protected]
[email protected]
Financial tables follow.
COLUMBUS McKINNON CORPORATION
Condensed Consolidated Income Statements - Unaudited
(In thousands, except per share and percentage data)
Year Ended
March 31, 2026
March 31, 2025
Change
Net sales
$ 1,193,451
$ 963,027
23.9 %
Cost of products sold
834,020
637,347
30.9 %
Gross profit
359,431
325,680
10.4 %
Gross profit margin
30.1 %
33.8 %
Selling expenses
133,579
110,043
21.4 %
% of net sales
11.2 %
11.4 %
General and administrative expenses
178,325
107,249
66.3 %
% of net sales
14.9 %
11.1 %
Research and development expenses
21,409
23,869
(10.3) %
% of net sales
1.8 %
2.5 %
Net gain on sales of businesses
(103,306)
—
NM
Loss on impairment of goodwill
200,000
—
NM
Amortization of intangibles
48,757
29,946
62.8 %
Income from operations
(119,333)
54,573
NM
Operating margin
(10.0) %
5.7 %
Interest and debt expense
61,145
32,426
88.6 %
Cost of debt refinancing
24,185
—
NM
Investment (income) loss, net
(2,182)
(1,302)
67.6 %
Foreign currency exchange loss (gain), net
5,551
3,179
74.6 %
Other (income) expense, net
(1,525)
25,775
NM
Income (Loss) before income tax expense
(206,507)
(5,505)
NM
Income tax (benefit) expense
22,930
(367)
NM
Net income (loss)
(229,437)
(5,138)
NM
Net loss attributable to noncontrolling interest
98
—
NM
Net income (loss) attributable to the Company
$ (229,535)
$ (5,138)
NM
Average basic shares outstanding
28,714
28,738
(0.1) %
Basic income (loss) per common share
$ (7.40)
$ (0.18)
NM
Average diluted shares outstanding
28,714
28,738
(0.1) %
Diluted income (loss) per common share
$ (7.40)
$ (0.18)
NM
Dividends declared per common share
$ 0.28
$ 0.28
COLUMBUS McKINNON CORPORATION
Condensed Consolidated Income Statements - Unaudited
(In thousands, except per share and percentage data)
Three Months Ended
March 31, 2026
March 31, 2025
Change
Net sales
$ 437,829
$ 246,889
77.3 %
Cost of products sold
334,937
167,079
100.5 %
Gross profit
102,892
79,810
28.9 %
Gross profit margin
23.5 %
32.3 %
Selling expenses
47,149
27,999
68.4 %
% of net sales
10.8 %
11.3 %
General and administrative expenses
79,048
33,206
138.1 %
% of net sales
18.1 %
13.4 %
Research and development expenses
7,365
6,276
17.4 %
% of net sales
1.7 %
2.5 %
Net gain on sales of businesses
(103,306)
—
NM
Loss on impairment of goodwill
200,000
—
NM
Amortization of intangibles
25,817
7,398
249.0 %
Income from operations
(153,181)
4,931
NM
Operating margin
(35.0) %
2.0 %
Interest and debt expense
35,388
8,141
334.7 %
Cost of debt refinancing
24,185
—
NM
Investment (income) loss, net
(217)
(429)
(49.4) %
Foreign currency exchange loss (gain), net
4,647
449
935.0 %
Other (income) expense, net
(1,387)
263
NM
Income (Loss) before income tax expense
(215,797)
(3,493)
NM
Income tax (benefit) expense
22,335
(809)
NM
Net income (loss)
(238,132)
(2,684)
NM
Net loss attributable to noncontrolling interest
98
—
NM
Net income (loss) attributable to the Company
$ (238,230)
$ (2,684)
NM
Average basic shares outstanding
28,742
28,615
0.4 %
Basic income (loss) per common share
$ (5.78)
