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CMCO News
CMCO Events
Company Reports Q1 Revenue of $531.5M
Reports Q1 revenue $531.5M, consensus $501.9M. "Our team delivered solid results in our first full quarter as a combined company, while also continuing to progress the integration and realize synergies," said David J. Wilson, President and Chief Executive Officer. "I am pleased with the strong start to the year, including substantial orders growth supported by robust U.S. short-cycle demand, increasing our confidence in the year ahead."
Company Raises FY27 Revenue Outlook to $2.15B
Consensus $1.75. Raises FY27 revenue view to $2.09B-$2.15B from $2.05B-$2.12B, consensus $2.09B. Raises FY27 adjusted EBITDA view to $405M-$420M from $390M-$410M. "Our revised full year outlook reflects the strong orders and financial performance from our first quarter and increased confidence in the year. The revised outlook is based on our latest assumptions for sales phasing based on our current backlog as well as updated foreign exchange rates," said John Linker, Executive Vice President and Chief Financial Officer. "Our guidance also reflects additional confidence in cost synergy realization and progress towards achieving our leverage reduction targets."
Columbus McKinnon Appoints John Linker as New CFO
Columbus McKinnon appointed John Linker as the company's new EVP of Finance and CFO, effective as of July 1. Linker succeeds Gregory Rustowicz. Most recently, Linker served as CFO of Husky Technologies. Prior to Husky, Linker served as CFO and COO of Serta Simmons Bedding. Previously, Linker held several leadership positions at JELD-WEN Holding, including CFO.
Dow Jones Rises 1.73%, Nasdaq Declines
The major averages closed mixed, with the Dow Jones Industrial Average the leader. The Nasdaq was the laggard as investors took profits in semiconductor stocks following Broadcom's earnings report. The reaction in Broadcom shares suggests the market may be entering a phase where strong results alone are no longer enough if guidance does not materially improve.Meanwhile, oil prices eased slightly following reports of progress toward regional de-escalation in the Middle East.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Broadcomreportedand reiterated its FY27 AI revenue targetCrowdStrikeprovided areport for Q1Five Belowalso provided areport for Q1Blackstone Private Credit Fundiscompared to the requested 10%Quantinuumopened at $68 after the quantum computing company's IPO2. WALL STREET CALLS:BofAUnitedHealthto Buy on improving medical cost trendsMacquarieBroadcomon Googlemove to insource chipsRTXto Buy from Hold at JefferiesPVH Corp.to In Line from Outperform at Evercore ISIUBSEHangto Neutral amid setbacks3. AROUND THE WEB:Qantasis in talks for the potential purchase of 20 Boeing787s or AirbusA350s, Reuters reportsIn a confidential Competition Commission of India, CCI, order, Appleagreed to submit the financials of its India business to the antitrust body as part of an investigation into whether the company abused its market position in the country, Reuters saysMetahas delayed plans to release its newest AI model to developers several times and does not have a planned date to release it, WSJ saysNvidiahas acquired Kumo AI, a startup focused on foundation models for business prediction and analytics, with all three co-founders already joining Nvidia, Yahoo Finance reportsSome members of the Glazer family are considering selling their stake in Manchester United FCafter internal discussions about individual exits, potentially drawing interest from Middle Eastern and U.S. wealthy buyers at a high valuation, Bloomberg reports4. MOVERS:Oscar Healthgained after Wells Fargothe stock to Equal Weight from UnderweightFranklin Resourcesrose afterthe company is near an SEC settlement over Wamco for $100MAbsciwas higher after Leerinkcoverage of the stock with an Outperform ratingPetcowas lower afterand providing guidance for Q2 and FY26Netskopefell afterand providing guidance for FY275. EARNINGS/GUIDANCE:PVH Corp.reportedand affirmed its FY26 guidanceToro Companyand raised its guidance for FY26Ciena, with CEO Gary Smith commenting, "Today's results reflect the strength of our portfolio"Caleresand provided its guidance for Q2 and FY26Columbus McKinnon, with EPS missing consensusINDEXES:The Dow rose 874.86, or 1.73%, to 51,561.93, the Nasdaq lost 23.02, or 0.086%, to 26,830.96, and the S&P 500 advanced 30.63, or 0.41%, to 7,584.31.
Dow Jones Up 800 Points, Nasdaq Slips
The major averages were mixed at midday, with the Dow Jones Industrial Average was more than 800 points higher and the Nasdaq slipping as investors take profits in semiconductor stocks amid the market reaction to Broadcom's earnings report. Broadcom's reaction suggests the market may be entering a phase where strong results alone are no longer enough if guidance does not materially improve.Meanwhile, oil prices have eased slightly following reports of progress toward regional de-escalation in the Middle East. At the same time, gold is modestly higher as traders seek safety amid the pullback in technology shares and ongoing geopolitical uncertainty.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Broadcomreportedand reiterated its FY27 AI revenue targetCrowdStrikeprovided areport for Q1Five Belowalso provided areport for Q1Blackstone Private Credit Fundiscompared to the requested 10%PVH Corp.reportedand affirmed its FY26 guidance2. WALL STREET CALLS:BofAUnitedHealthto Buy on improving medical cost trendsMacquarieBroadcomon Googlemove to insource chipsRTXto Buy from Hold at JefferiesPVH Corp.to In Line from Outperform at Evercore ISIUBSEHangto Neutral amid setbacks3. AROUND THE WEB:TSMC'sCEO C.C. Wei said global chip supply is expected to remain constrained relative to AI-driven demand for years, noting that even with expanded U.S. manufacturing capacity, the company will not be able to fully meet strong customer demand, Bloomberg reportsIn a confidential Competition Commission of India, CCI, order, Appleagreed to submit the financials of its India business to the antitrust body as part of an investigation into whether the company abused its market position in the country, Reuters saysMetahas delayed plans to release its newest AI model to developers several times and does not have a planned date to release it, WSJ saysNvidiahas acquired Kumo AI, a startup focused on foundation models for business prediction and analytics, with all three co-founders already joining Nvidia, Yahoo Finance reportsSome members of the Glazer family are considering selling their stake in Manchester United FCafter internal discussions about individual exits, potentially drawing interest from Middle Eastern and U.S. wealthy buyers at a high valuation, Bloomberg reports4. MOVERS:Oscar Healthgains after Wells Fargothe stock to Equal Weight from UnderweightRedwireincreases after beingfrom Astrobiome SpaceAbsci (ABSI) higher after Leerinkof the stock with an Outperform ratingPetcolower afterand providing guidance for Q2 and FY26Netskopefalls afterand providing guidance for FY275. EARNINGS/GUIDANCE:Toro Companyand raised its guidance for FY26Ciena, with CEO Gary Smith commenting, "Today's results reflect the strength of our portfolio"Caleresand provided its guidance for Q2 and FY26Columbus McKinnon, with EPS missing consensusIDT Corpand raised its guidance for FY26INDEXES:Near midday, the Dow was up 1.69%, or 857.93, to 51,545.00, the Nasdaq was down 0.38%, or 101.24, to 26,752.73, and the S&P 500 was up 0.18%, or 13.33, to 7,567.01.
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