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- **Revenue Beat**: 8% YoY growth to $261 million, driven by U.S. short-cycle stabilization and accelerated Q2 shipments.
- **Profit Margin Challenge**: Adjusted gross margin down 100bps YoY due to tariffs, with $10 million annual headwind expected.
- **Acquisition Momentum**: Kito Crosby integration on track for end-FY26 close, targeting $2 billion+ revenue and rapid synergy realization.
- **Cash Flow Resilience**: Q2 free cash flow $15.1 million, supporting FY26 guidance for flat/slightly up EPS despite macro volatility.

**【CEO Summary Section】**
- **Revenue Growth**: Net sales increased 8% YoY to $261 million, driven by stabilization in U.S. short-cycle orders and accelerated deliveries from Q3 backlog. U.S. sales grew 11%, while EMEA and APAC faced slower project order conversion.
- **Profitability**: Adjusted EPS rose $0.12 sequentially to $0.62, reflecting margin expansion and cost management. Gross margin contracted 100bps YoY due to tariffs and mix impacts.
- **Tariff Mitigation**: Q2 net tariff impact moderated slightly from Q1, with a $10 million annual headwind expected. Targeting tariff cost neutrality by end of FY26 and margin neutrality by FY27.
- **Backlog**: $352 million (up 11% YoY), with Q3 sales volume expected to decline due to accelerated Q2 shipments.
- **Acquisition Update**: Kito Crosby integration preparation underway, with IMO and Board subcommittee established. Closing expected by end of FY26, targeting $2 billion+ combined revenue and top-tier industrial margins.

**【CFO Financial Commentary】**
- **Gross Profit**: $90.2 million (21% YoY increase), driven by higher sales and $11.1 million reduction in factory start-up costs. Adjusted gross margin 35.3%, down 100bps YoY due to tariffs.
- **Operating Expenses**: GAAP SG&A $70.3 million (includes $9.9 million acquisition costs). Adjusted RSG&A up 60bps to 22.7% of sales, partly due to foreign currency translation.
- **Free Cash Flow**: $15.1 million, supported by earnings growth and working capital improvements.
- **Guidance Update**: Full-year net sales guidance raised to low-mid single-digit growth (from flat/slightly up). Adjusted EPS guidance maintained at flat/slightly up YoY.

**【Q&A Highlights】**
- **Sales vs. EPS Guidance**: Q2 revenue pull-forward and Q3 tariff impacts limited EPS upside. Foreign currency translation benefits top line more than bottom line.
- **Project Backlog**: Record funnel across product categories, with slower conversion in EMEA/APAC. U.S. project orders up 11%, driven by aerospace, energy, and defense.
- **Kito Crosby Timing**: Regulatory process ongoing, with financing secured. Post-close, target $100 million+ synergies and rapid de-levering.
- **Cash Flow Management**: FY26 CapEx $15-20 million. Post-acquisition leverage expected in high-4x range, with focus on free cash flow generation.
- **U.S. Market Strength**: Short-cycle demand stable, pricing initiatives offsetting tariffs. Aerospace, heavy equipment, and defense sectors leading growth.

Columbus McKinnon Corporation (CMCO) Q2 2026 Earnings Call Transcript

Revenue

Sales and Services Revenue

Financing Services Revenue

Other Revenue

Cost of Revenue

Cost of Goods and Services

Cost of Financing Services

Other Cost

Gross Profit

Other Operating Income

Operating Expenses

Selling, General and Administrative Expenses

Selling and Marketing Expenses

General and Administrative Expenses

Research and Development Expenses

Loss on Bad Debts

Loss on Impairment of Other Assets

Loss on Disposal of Assets

Other Operating Expenses

Operating Income

Non-Operating Income (Loss)

Income (Loss) from Affiliates

Income (Loss) from Associates

Income (Loss) from Joint ventures

Gain (Loss) on Other Investment

Gain (Loss) on Change in Fair Value

Gain (Loss) on Foreign Currency Exchange

Other Non-Operating Income (Loss)

Net Interest Expense

Interest Expense

Interest Income

Pretax Income From Continuing Operations

Income Tax Expense

Current Income Tax

Deferred Income Tax

Income Tax Adjustments

Net Income from Continuing Operations

Income from Discontinued Operations

Other Items Before Net Income

Net Income

Net Income Attributable to Minority Interests

Net Income Attributable to Owners of the Company

Preferred Stock Dividends

Other Adjustments

Net Income Attributable to Common Stockholders

Other Comprehensive Income

Total Comprehensive Income

Total Comprehensive Income Attributable to Minority Interests

Total Comprehensive Income Attributable to Owners of the Company

Basic EPS

Basic EPS from Continuing Operations

Basic EPS from Discontinued Operations

Diluted EPS

Diluted EPS from Continuing Operations

Diluted EPS from Discontinued Operations

CMCO

CMCO fundamentals

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