Columbus McKinnon gains on Q4 revenue beat

Columbus McKinnon

25/05/2022 16:25

** Columbus McKinnon Corp's shares  CMCO.O  up 2.3% at
$33.67 in early trade 
    ** Co's Q4 revenue rose 36% to $253 mln, well above
estimates of $237.1 mln - Refinitiv IBES data  urn:newsml:reuters.com:*:nBw8lyz8a
    ** CMCO said it saw strong demand for its intelligent motion
solutions through the quarter 
    ** "While we were successful in outpacing raw material
inflation in the quarter and for the fiscal year, gross margin
this quarter was heavily impacted by rising freight costs" - CEO
David Wilson
    ** Co's Q4 adjusted EPS came in at 79 cents/share, in line
with Wall Street estimates 
    ** All eight brokerages covering the stock rate it "buy" or
higher; their median PT is $63 - Refinitiv
    ** Shares down 27.2% YTD

 (Reporting by Manya Saini in Bengaluru)
 ((Manya.Saini@thomsonreuters.com;))