Columbus McKinnon Reports Financial Results for Third Quarter Fiscal Year 2021
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Columbus McKinnon (CMCO) Tops Q3 EPS by 11c, Revenues Beat; Offers 4Q Revenue Guidance Above Consensus
January 28, 2021 6:38 AM ESTColumbus McKinnon (NASDAQ: CMCO) reported Q3 EPS of $0.27, $0.11 better than the analyst estimate of $0.16. Revenue for the quarter came in at $166.5 million versus the consensus estimate of $156.73 million.
Third Quarter Highlights
Evolution of strategy and Columbus McKinnon Business System (CMBS) delivered solid operating resultsRevenue of $166.5 million was up 5.5% compared with the trailing second quarterOperating income was $10.4 million with adjusted operating income1 of $11.2 millionStrong cash generation of $25.0 million provided by operating activities; Free cash flow of $21.9 million2Backlog grew to $152.4 million, up 22% over prior-year period and 4%... More