Material handling equipment manufacturer Columbus McKinnon (NASDAQ:CMCO) will be reporting results this Monday afternoon. Here’s what to expect.
Columbus McKinnon beat analysts’ revenue expectations by 8.5% last quarter, reporting revenues of $261 million, up 7.7% year on year. It was a stunning 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, analysts are expecting Columbus McKinnon’s revenue to grow 4.9% year on year to $245.7 million, a reversal from the 7.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.58 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Columbus McKinnon has missed Wall Street’s revenue estimates five times over the last two years.
Looking at Columbus McKinnon’s peers in the general industrial machinery segment, some have already reported their Q4 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 17.6%, beating analysts’ expectations by 13.9%, and Crane reported revenues up 6.8%, topping estimates by 1.9%. GE Aerospace traded down 7.7% following the results while Crane was also down 11.5%.
Read our full analysis of GE Aerospace’s results here and Crane’s results here.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 8.7% on average over the last month. Columbus McKinnon is up 13.4% during the same time and is heading into earnings with an average analyst price target of $26.75 (compared to the current share price of $22.88).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.