Columbus McKinnon (CMCO) Tops Q2 EPS by 5c

November 7, 2019 6:40 AM EST
Get Alerts CMCO Hot Sheet
Price: $44.55 +0.81%

EPS Growth %: +514.3%

Financial Fact:
ProfitLoss: 6.82M

Today's EPS Names:
Trade Now! 
Join SI Premium – FREE

Get instant alerts when news breaks on your stocks. Claim your 1-week free trial to StreetInsider Premium here.

Columbus McKinnon (NASDAQ: CMCO) reported Q2 EPS of $0.74, $0.05 better than the analyst estimate of $0.69. Revenue for the quarter came in at $207.6 million versus the consensus estimate of $206.68 million.

Third Quarter Fiscal 2020 Outlook:

Progress with the 80/20 Process has enabled the Company to announce the intended closure of a second facility in Ohio. This is expected to provide annual savings of approximately $5 million beginning in the third quarter of fiscal 2021. Well-reported industrial market weakness will likely continue however, we are encouraged that industrial market indicators are stabilizing. The Company believes that savings realized from its Blueprint for Growth strategy can continue to offset headwinds, fund investments for growth, and drive margin and earnings expansion. The Company expects revenue in the third quarter of fiscal year 2020 to be down approximately 2% compared with revenue of $205 million in the prior-year period (adjusted for divestitures and foreign currency translation at current rates).

For earnings history and earnings-related data on Columbus McKinnon (CMCO) click here.

Serious News for Serious Traders! Try Premium Free!

You May Also Be Interested In

Related Categories

Earnings, Guidance

Related Entities