Material handling equipment manufacturer Columbus McKinnon (NASDAQ:CMCO) will be announcing earnings results this Thursday before market open. Here’s what you need to know.
Columbus McKinnon beat analysts’ revenue expectations last quarter, reporting revenues of $258.7 million, up 10.5% year on year. It was a strong quarter for the company, with a solid beat of analysts’ EBITDA estimates and an impressive beat of analysts’ revenue estimates.
Is Columbus McKinnon a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Columbus McKinnon’s revenue to grow 69.3% year on year, a reversal from the 7% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Columbus McKinnon has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Columbus McKinnon’s peers in the general industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Albany delivered year-on-year revenue growth of 7.8%, beating analysts’ expectations by 10.8%, and L.B. Foster reported revenues up 23.9%, topping estimates by 16.2%. Albany’s stock price was unchanged after the resultswhile L.B. Foster was up 29.4%.
Read our full analysis of Albany’s results here and L.B. Foster’s results here.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 6.2% on average over the last month. Columbus McKinnon is up 7.3% during the same time and is heading into earnings with an average analyst price target of $26.50 (compared to the current share price of $15.83).
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