Q1 2025 Columbus McKinnon Corp Earnings Call Transcript
Key Points
- Columbus McKinnon Corp (CMCO) achieved 2% sales growth, reaching the midpoint of their guidance range.
- Adjusted EPS of $0.62 was at the top end of their guidance range.
- Precision conveyance and lifting segments showed strong performance, with growth of 10% and 3% respectively.
- Adjusted gross margin expanded by 110 basis points year-over-year to 38%, marking a record first quarter.
- The company is accelerating debt repayment, increasing their expected debt repayment in fiscal '25 from $50 million to $60 million.
- The crane automation business experienced softness, impacting overall order growth.
- Short-cycle business was down 2%, despite short-cycle orders being up 3% in the quarter.
- The project business orders were down 5% in the quarter due to order timing and softness in crane automation.
- The company is facing higher costs related to the consolidation of their North American linear motion facility into Monterrey, Mexico.
- Second quarter guidance indicates a potential dip in performance, with expected sales growth down low to mid-single digits and adjusted EPS growth down mid-single digits year-over-year.
Good morning, and welcome to Columbus McKinnon first quarter fiscal 2025 earnings conference call. My name is Ranju, and I will be your conference operator today. As a reminder, this call is being recorded.
I would now like to turn the conference over to Kristine Moser, Vice President of Investor Relations.
Thank you. Good morning, and welcome, everyone to Columbus McKinnon's first quarter fiscal '25 earnings conference call. The earnings release and presentation are available for download on our Investor Relations website at investors.cmco.com. On the call with me today are David Wilson, our President and Chief Executive Officer; and Gregory Rustowicz, our Chief Financial Officer. In a moment, David and Greg will walk you through our financial and operating performance for the quarter.
Before we begin our remarks, please let me remind you that we have our safe harbor statement on slide 2. During the course of this call, management may make forward-looking
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