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Material handling equipment manufacturer Columbus McKinnon (NASDAQ:CMCO) will be reporting results tomorrow before market hours. Here’s what investors should know.
Columbus McKinnon met analysts’ revenue expectations last quarter, reporting revenues of $239.7 million, up 1.8% year on year. It was a satisfactory quarter for the company, with a solid beat of analysts’ operating margin estimates.
Is Columbus McKinnon a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Columbus McKinnon’s revenue to decline 3.7% year on year to $248.7 million, a reversal from the 11.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.70 per share.
The majority of analysts covering the company have 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 four times over the last two years.
Looking at Columbus McKinnon’s peers in the general industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Crane delivered year-on-year revenue growth of 12.7%, meeting analysts’ expectations, and John Bean reported revenues up 12.4%, topping estimates by 2.6%. John Bean traded up 17.8% following the results.
Read our full analysis of Crane’s results here and John Bean’s results here.
Investors in the general industrial machinery segment have had steady hands going into earnings, with share prices flat over the last month. Columbus McKinnon is down 8.6% during the same time and is heading into earnings with an average analyst price target of $49.60 (compared to the current share price of $32.89).
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