Columbus McKinnon Corporation (NASDAQ: CMCO) delivered strong third-quarter fiscal 2026 results, with net sales rising 10.5% to $258.7 million. U.S. sales surged 13.7% to $147.2 million, reflecting robust demand in precision conveyance, lifting, and automation sectors.
Financial Highlights
Orders increased 11% to $247.4 million, while backlog grew 15% to $341.6 million across all platforms. Adjusted EBITDA reached $39.8 million, with a margin of 15.4%. Adjusted earnings per share climbed 10.7% to $0.62.
Year-to-date net sales totaled $755.6 million, up 5.5%, and operating cash flow more than doubled to $20.6 million.
Kito Crosby Acquisition Advances
President and CEO David Wilson announced the recent closing of the transformational Kito Crosby acquisition. He emphasized the combined strengths of two innovative companies with industry-leading technologies.
Management targets $70 million in annualized cost synergies from the deal. Integration efforts focus on synergy realization and debt reduction to support the Intelligent Motion strategy.
Guidance and Outlook
The company withdrew standalone fiscal 2026 guidance due to the acquisition, pending divestiture of U.S. power chain hoist operations, and integration uncertainties. Updated guidance for fiscal 2027 will accompany fourth-quarter results in late May.
Executives aim for a net leverage ratio below 4.0x by the end of fiscal 2028. Near-term priorities include debt deleveraging, while maintaining consistent dividends and deploying free cash flow for growth.
U.S. demand remains strong, offsetting softer EMEA conditions, with expectations for continued backlog conversion and market expansion.
