CMCO - Earnings call 3 2024 | Columbus McKinnon Corporation

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Operator

Greetings, and welcome to Columbus McKinnon's Third Quarter Fiscal Year 2024 Financial Results. [Operator Instructions].

As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Kristine Moser, Vice President, Investor Relations and Treasurer.

Kristine Moser

Thank you, Rob, and good morning, everyone, to Columbus McKinnon's Fiscal Third Quarter 2024 Earnings Conference Call. presentation and for investorrelations.cmco.com. and Investor on release website Relations earnings are download available our The

safe Greg we Financial On begin before David and and and me and operating Wilson, let call Greg our our our have the with Slide through you X. harbor the remind President remarks, Chief me will walk performance statement Executive please our moment, for In on we a Officer. today our you are Rustowicz, that David Chief financial Officer; But quarter.

During forward-looking future the These our beliefs may subject and course of of this number expectations. and performance call, current statements management make a statements and guarantees risks to to cause materially to can in not to will are are contemplated and other certain regards of like plans, I'd events and management financial factors from results these remind measures. actual differ forward-looking by statements. refer non-GAAP to also that events results that the you and uncertainties

release You and company's Investor the can the with and earnings its in Commission. see measures website the our most GAAP filings for financial information. followed Please find directly David. and Exchange Relations on prepared Exchange the with more let comparable be and session. by remarks it Commission reconciliations will With question-and-answer over Securities to filings Today's a that, our turn Securities me of

David Wilson

and Kristine, morning, everyone. you, good Thank

as commercial playbook we The third initiatives. our quarter traction quarter was leveraged another sales growth net and strong for of gained with

we history. and backlog dynamics, most areas operating category profit. in and in operational matter quarter, In reduced our in to to In on XX% in for due which further net first a stronger translated continued improvements sales fact, that enabled our performance reduce growth trailing resilience billion our basis delivered chain top the performance operating we customers and of even to times. the growth, delivered in supply we third past XX-month time experience. drove line our healthier improved This $X over customer levels us lead improvement With

from and XXX our Adjusted pricing and growth expanded we points expanded focused robust a year-over-year, our and prior gross performance margin labor year. benefited Improvements through montratec. in the lapped capacity As of even on leverage CMBS by from XX/XX basis driven have material factory direct process. actions by we gross acquisition been as overhead improvement time on the planning, pricing margin remain rates, over costs, productivity, progress

margin it to short a Greg strong delivered expectations will that we year-over-year, due unpack items a few fell shortly. unique expansion bit Although our own of

an fourth year-over-year While impact quarter, we those expansion dynamics had expect in quarter. in margin gross the accelerate the third adjusted to

consistent More and and we in execution dry variety reinvest XXXX. of a upside model we're line generating have growing combined for basis We levers drive a deliver across and of thanks our business our exceptional while of is our in continued innovative and of provides how behalf more sight remain has McKinnon all with gross to of multiple with track which That to expansion margin where opportunities XX% target our improving and record differentiated XXX-plus customers points to time work growth performance X,XXX shareholders. delivered team of I powder economic operating over our both scale. be nimble the couldn't our strong proud to of our performance execution hard to have by on environments, and strong team, potential team members. our cash, on and Columbus has framework,

growth We business. naturally to with also flow remain coupled on our focused using significant generation cash EBITDA our deleverage adjusted

quarter, our a X.Xx, commercial record strong at powered solid of by We're of X.Xx track the the resilience fiscal achieve and the end by leverage now we're to year. our our fourth track with differentiated to ratio business, momentum execution. on growing sits the net off initiatives Our and start of approximately in

targeted and geographies, deliver geopolitical to guidance, remained all Underpinning quarter, precision lifting, were Greg Orders turn we fourth Slide particular to strength third focus with X%. customer-centric you'll montratec, QX, demand quarter across businesses our growth in precision as our short-cycle both X% excluding basis efforts. our saw short-cycle for last delivered broader orders reflecting and XX% X, project the a healthy. end double period versus are If EMEA same conveyance macroeconomic and year. and shortly. in on the which despite which X%, resilient we in will conveyance continue expand order remained to Project up in discuss week, diversification initiatives and and demand growth digits our XX% sales Overall, and remain respectively, grew market even And headwinds. us was orders up quarter-to-date on positioning strength of channel growth through last strong up the

electric market, to prepackaged related hybrid customers advancements, leading their address unique to wins and our project ship exact vertical and for trends delivery the pharmas within demand in megatrends increasing where to delivering we on are e-commerce for capitalizing to solutions are and solutions, package needs home meals vehicle and specifications. We areas customized

time. equipment a and lean As recurring will that margin streams tailwind business creating our be to for also an over we gross requires increasing customization, parts, proportion into our portfolio of revenue unique

activity While quarter, pharma, to pipeline as of see logistics. tailwinds our business I've provide categories megatrends this a from wins still that project automation and early, growing such already in we benefiting and had

acquisitions we funnel our we impacts macroeconomic markets, our our new the in into adding markets This remain we outlook, and our growth While our and and have CapEx commercial has improve we near-term are customers Through not about expanding visibility resilience our optimistic relationships, sales industrial of environment, tailwinds. new from experience. efforts the to the softness initiatives, into our of to customers' are attractive cautiously that pockets spending. have immune customer given muted

and project cycle both funnel for short orders. remain encouraged large we Importantly, by our

our earlier, on highly mentioned I operational and focused enhancing experience. performance we As remain customers' our improving

our in these of X% by quarter, efforts, which past the result backlog by period. decreased driven in prior reductions the from decreased a due backlog, As XX%

levels. backlog normalize further expect current from to we forward, Going

this may to will and volume believe expect While lead customer midterm. tailwinds from we frequency benefit near-term over satisfaction shipment the times to improved and flexibility, create levels, order we which impact

Investor we that foundational to on continue make customer of and on addition delivering rationalization in simplifying footprint In plan with we significant our progress enhancements experience, productivity including the transformation, to all our aspects business, mentioned last Day. our progress

enhancements R&D of state-of-the-art This over our is that will time. growth that center with part opened a XXX,XXX square investment we aligned effort as Monterrey, will Slide A and directly productivity process we excellence and region. in of X. facility in January, expand manufacturing As capabilities XX/XX on of Mexico, foot pictured our culture in the cultivate our enable innovation

We $XX approximately to CapEx expect of associated million with incur project. phase this the of

to Santiago quarter. factory approximately We of $X million our related facility consolidation into the our closure facility costs of consolidation and the Mexico that in fourth of also expect Monterrey

the over the expect production achieving record factory. highly acquisition our transformation we've benefits to strategy. anticipate business motion Slide course of will track differentiated strategic achieve handling. but powered investment ramp advance X, I our this We We production long-term with progress new up 'XX and model, our by while the and in focused in we long-term business of the productivity on trajectory we encouraged by on global that to potential leader for the Columbus become costs overlapping as volume in for the and fiscal related the of of remain material making executing our benefits by be funnel and plan solutions of remain Pulling business. near we're confident established and we encouraging both our offset intelligent we're to objectives those opportunities McKinnon execution strategic the

the market a as and are terms our targeted of electrification. scratch near-shoring just to the precision and tailwinds deliver. from long our conveyance our and that resources, through the runway provides infrastructure total with automation playbook a of manufacturing expansion benefiting surface focus labor can We proven with value beginning attractive capacity, addressable to growth for defense The scarcity of business related spending on of sectors the as well megatrends associated are in

give strength that, remain turn our business Greg will With growing I'll to execution, and model we that momentum objectives. confidence continued take track financial to long-term over meet Our results. the it to us on financial of us our the through

Gregory Rustowicz

morning, you, everyone. Good David. Thank

X.X% lapped year's lower conveyance the by in X%. very of in The delivered supported We by X. period Airbus strong largely was order our the $XX.X or at in project resilience as automotive precision $X.X pricing in and accounting high Slide the quarter was provided with million deliveries, quarter, which sales, net sales decreased the large was gains a demand. increase. montratec anticipating of realized which acquisition last earlier Montratec execution several of continued the This of last we net strong team We up $X.X guidance timing to a X.X%, were XX.X% and constant reflecting EV in what to the million price increase. million quarter, contributed to the large This million, November for German line was we Volume $XXX.X had or from in end by prior the sales fiscal a currency basis. Turning impacted third company or X.X% platform, we year from space. namely rates of the on year.

single-digit we and We strong was As revenue third on or this was is growth On both of funnel up of growth primarily conveyance the a X% QX. in gross the saw margin million in as In X, $X.X volumes, quarter. XX.X%, recorded currency points of of XXX we platform for sales On referenced. We with U.S. XX%. platform, quarter basis order in was sales precision of just year-over-year. U.S., saw this our robust growth. Foreign outside montratec This organic result an basis, David XX.X% discussed, combination of margin the gross Slide translation by increasing XX.X% a the adjusted benefit high lower the decreased healthy and X.X%.

declined includes XXX basis saw points, we As seasonality. margin adjusted sequentially expected, normal by which gross

third came in Covid our had we labor that highest Germany little While gross in margins our productivity. the a This expectations. by factory quarter, was impacted in outbreak we a Kunzelsau primarily were behind in ever driven the December

repeat. purchase and we margins fiscal Montratec, margins year. gross XX% the rebound, higher pricing material million particular million points expansion versus had manufacturing for cost not gross margin, factors, margins of QX to an remain achieve to XX at including accretive million. in have $X.X the will a we were and gross lower with table. by see profit which which net path Gross changes, contributions several XX%. addressed on The should overall driven that driving 'XX. components $XX.X contributed and largest the which addition, a from Montratec was gross prior increased carried Montratec XX% by we In margin added or our in was project can item to you acquisition, gross quarter which basis $X.X this profit of profit inflation, This

Moving to Slide X.

expense ago. the total. The quarter year the was impact SG&A or to basis FX, points $XX.X Montratec year-over-year addition increase portfolio from improved sales. of XX Our which the a and added of million This was largely the XX.X% the to from in of was $XXX,XXX

to not as ago. in which that selling repeat total, prior $X.X this acquisition a business costs earn-out did continue by the added but We invest offset realigned than lower in was year million R&D, the an the and more we to year

or an our XX.X% the Slide Adjusted the income was or reflects in This of business Turning generated XX% or operating grew an operating of quarter million expansion We $X.X leverage strong have year's income On increase demonstrates over million of million third adjusted long operating last $X.X in income XX.X% represents quarter. sales. operating runway XX. to of margin sales. or $XX.X for This XX%. $XX.X million and basis, we time. over the

to was adjusted the results, Excluding XX% drove leverage. Montratec additive business our our acquisition, operating which

$X.XX can This a you see the $X.XX we on pension by million to expense, share. quarter noncash GAAP year. was $X.X EPS versus As which diluted prior for recorded impacted per of Slide earnings per XX, due down the share settlement $X.XX,

be the The this of We pension we million noncash a of pension sum will plans. will process complete off settlement. We $XX to calendar lump sold point, year. later employees class of sum elected paid U.S. charge to and will who former insurance to approximately expect termination are had in we be the company certain transaction, similar $XX record. current of books. another terminating liability remaining that back We million in our that a At the an we one payments that fiscal 'XX. year lump our plan When

EPS. adjusted calculating of purposes for out this adjusted have We

Our margin impact interest in quarter. impacted and by XX, ago. XX improvement EBITDA XXX repayment, on by year, finished expense diluted withholding be also fiscal rate year basis was to was share improved we XX.X% points $X.XX offset of XX.X%, operating rate the higher of per prior tax the On quarter as resulted a than in XX-month EPS repatriated XX% tax adjusted higher debt year-over-year, increased still per this adjusted taxes. Year-to-date, And from XX%. of basis, On basis margin was rate $X.XX for adjusted more earnings a overseas expect tax to we $X.XX which 'XX. was share together basis rate a as GAAP our EBITDA year trailing our from dividend XX%. we which our cash approximately tax this quarter year the the Adjusted up the from negative a point income our where about Slide accelerate

invested to up X%. XX to continues points and improve fiscal return was from year Our capital on XX% basis

We a expect XXXX. by ROIC to fiscal double-digit realize year low

increase Moving CapEx. from free to flow to Quarterly of Year-to-date, to $XX.X us, Slide cash that QX million, of $X free would Monterrey, the a is cash $XX.X in activities and historically is a cash year and XX. cash which the provided operations we for new operating higher from million an strong quarter This XX% largely facility. million. by period. ago $XX.X CapEx despite million continue. Mexico We of expect includes was is our flow our trend tied

Slide XX. to Turning

our to ratio covenant a continues debt financial was improve leverage as net structure on capital X.Xx Our basis.

have a we credit have we previously covenant-light discussed, As agreement.

We of as down reduction plans debt $XX to debt continue another our accelerate we paid quarter. million this

year. million additional the which will We of QX, discussed debt to year, from up beginning the fiscal the are million million $XX planning $XX bring at $XX down an the fiscal to this pay in of total

report approximately We leverage as ratio net a expect we exit of to 'XX. year X.Xx fiscal

Slide on guidance XX. to Turning

to orders in On expect of continue to back million to and solid X% million QX. the in $XXX to X% sales we grow net growth in $XXX QX, between between

of expense, tax We of of year, interest outstanding diluted also million. rate the SG&A of XX% expect $XX full $XX expense, a million for roughly shares million our $XX.X

$XX cash QX We expect the inclusive free to million flow full $XX CapEx of approximately our of continue highly flow is generative elevated to of for with XX% to facility. year. be million, the of cash is opening fiscal conversion to This approximately Monterrey which due

use to to flow expect continue business. our We our delever cash to

X.Xx As ratio year. net a result, end by we fiscal expect our the leverage the to improve to approximately of

up wrap model. confidence me take year-to-date, performance, review Rob, I the As results now business of our fourth in our financial are our quarter initial our trends of to in the strength differentiated questions. our that let ongoing and ready emphasize my we reflects guidance

Operator

Instructions]. [Operator

from comes first question Our D.A. Davidson. Summerville Matt with

Matt Summerville

you guide? going onetime the in A the trajectory the that all Will couple to Monterrey, cost respect course, talk included quantify you're duplicative that? what of ramp-up quantification, out? maybe of Is into questions. also timing stuff. have, Monterrey, With costs facility, be that how to savings, you manufacturing about able to are on that And you're consolidating looks, then that can that,

David Wilson

let the of Matt, address off I'll address that, of Greg second me the part and to and question, questions. the first hand first take it I'll your to then

work strategy talked into. facility simplification included over and done directed Investor the from through for include we with the margin we we of go that started to this you or we've a improvement if to in is rationalization foundation And what consolidate standpoint, footprint our path time. brand-new put place we've outlined that that our a just back our when Analyst we Day, gross about So to footprint an

in XX% And margins. plan consolidation have that have benefits in the And Santiago the get that very so our and going with to And that we're and that's deliver that through follow-on that Mexico reasons, into addressing announced at a expect facility be over more but of we location into steps, those bridge and we details Monterrey, we'll time related the overall well-defined actively to underway. then to managing outlined for were gross we're sensitivity next obviously, time, strategy. not associated our business that to the leading plans

Gregory Rustowicz

Greg. Matt, so is this

going So handle to to cost we're for regards how the with Monterrey.

approximately new the this getting it forma-ed as quarter, hiring produced of a pro in people we and a we represented $XXX,XXX facility us So yet place, And costs. item. single cost team some haven't

from pro be that, So will excess forma up costs the that consolidation. in go the start benefits that our the will fact we that ramp be we to QX, realize we think set would to of facility to general, we product. fiscal 'XX, also expect, scaling it's offset have would as in year And the still of for cost that standards we're from manufacturing going we we up. as we related the in But into by

Matt Summerville

then, bit little the where more some most where business? both specifics seeing right end around a weaker you maybe provide the U.S. market And you're spots strength international David, can you now, just more some your see maybe granularity and in

David Wilson

So we've in of seen resilience about all saw in across an performance that data I we including Europe X.X% the a in Montratec the relative Montratec, geographies. we think were market if X.X% constant rates in to QX, the excluding exclude And increase basis. our X% business nice FX orders, Order in of you up year-over-year, conveyance that. on Montratec, business XX.X% including globally, talked

was business up lifting X%. Our

been of there's So resiliency. a nice level

life then the opportunities. as relates are active we in food performance as of discussions a EV to nice probably starting of as related that Those defense June gain in capitalize our we're traction. conveyance beverage conveyor well serve will markets it to some vehicle with business. pipeline of slowdown to to good with rates the XXXX we're business. -- look the targeted and traction seeing between And I say to starting and the XXXX there hybrid What in and targeting and order support have seen our we're sciences, beverage higher the feel able that a of are to there. is is about additional headwind and of customers We're as food pipeline, interest future, space. exist bottomed And affecting and The to we growth We the EV there's teams the spaces, that rates precision as packaging space, about set gain on, were progress opportunities and that sciences we're the life excited our rebound there. markets the e-commerce there June that robotics and making

Operator

Our next question is Securities. from Jon with Tanwanteng CJS

Jonathan Tanwanteng

I down a a commentary end market just drill you little that wanted bit if bit more, could. little to on

lifting it that First Or if e-commerce was all conveyance, that mentioned? was and U.S. large and conveyance customer lapping down was all at simply the of all? was it robotic you

David Wilson

a was X%, basis, Yes. with single U.S. quarter. global X.X%. in up on was up lifting U.S. But And lifting business was digits. lifting the the orders also low up in

Jonathan Tanwanteng

you then more that the came recovery business. and out? Is that overall conveyance in as is mentioned returns And address that broad-based and Or any customers of the more of from strength bottoming market? in you

David Wilson

and targeted in It's continued to We've actually. with of of a customers. we've as initiatives development business engaged with set traction a bit channel new customers both, diversification little gain

time activity we them. pleased we're that around we've working beta both of and traction the are return developments around so that the end broadly long with we're integrators And for with users. with customers a But e-commerce continued and worked more traction with on we're gaining seeing through

Jonathan Tanwanteng

that you're customers if is could And which I to a was planning. seems then more on in are telling and mentioned there. wondering little counter production ahead you what how you demand EV, of the strength color your you provide maybe sentiment finally,

David Wilson

with improvements we capacity of So also that they're demand as but for both can with savings participants their motion position build themselves we're own for intelligent immediately the benefits the long-term we we a in growing they're a to space. solutions them working our help us demand. and productivity do in be current sell advantages or customers, as that their game focusing opportunities they work for provide as there's cost with, with trend, focusing this and that factories them on on number whether productivity And And long for more. through

with And so traction seeing there. we're the we're work doing

Jonathan Tanwanteng

quarter, you I expect and expect as we normally the seasonal could both there. you the Greg, one-offs a that would thing would basis in what on head sneak be if margin this a quarter? one What gross into fourth

Gregory Rustowicz

we So we sit basis from think or going sequentially point sorry. where to in the be XXX last year, we're plus from today

that adjusted the it area. XX% approximately So gross puts at margin

David Wilson

upside noted and commentary, we we're working in Jon, prepared some And that our potential, on see that. we

Operator

is question from next Walt Liptak Seaport Our with Research.

Walter Liptak

stronger ask in to wanted than came little a I sales was expecting. I bit about The Montratec.

was Montratec? the And are run we XX-month was question there forward? revenue now so is, the pulled that for something rate thinking What for

David Wilson

commentary, So those indicated shipped Airbus And manufacturer. then quarter. EV were shipments prepared in to the to projects into to his as visibility those Greg large large X had in a demand we and German that planned. We

for they you it right a the purchased roughly we as business, the had So that's that now we business run the But were And communicated rate. at million will, $XX business. we'd a a was and grow we elevated, anticipated XX% business. rate, quarterly not if

more as level remains will a natural of of And a rate. that And think still that variability $XX at that a anticipate that, year later would a running and quarter-to-quarter. so have business, we're it's million I intact business project-focused

only but work, historical or channel the with through also our to not the we've combination been able that so in customers, our we're what business, quarter, of not itself their that progress opportunities for coming does $XX through see And to we're that continue enhance and making integration sales of businesses. this that for robust repeat million with delivery business the encouraged really but demand to by we

we over feel we the for that trajectory time. early achieve think business can So that the growth innings we good about really and

Walter Liptak

where quarter seasonal what's your quarter. the if The year? last that about data, fairly project And had shipped during you in patterns big back I like? look a maybe the And order the I one. at a funnel And looking March quarter, something tends it orders there's large be the fourth wonder to

Gregory Rustowicz

that, the take part Walt. of I'll So first

And is seasonal to strongest you're quarter. perspective, QX weakest quarter seasonally absolutely And perspective, our a so from the it holiday put into is our typically, with right, QX season.

Year. the optimism there's about typically, So New

Our They year-end the reduced calendar their of channel reporting be year. of lot a might in companies. inventory of levels has cases, end as the

so important And that look they now it's want balance at where and what demand. their their have they to the is to got they've sheets expected look future But them.

what so they inventory And do need.

budgets CapEx that new got been have approved. You've

from orders so perspective, while. be project a that are And we're starting related going for those quite projects to to see been in on where we've to working activity a coming

would And in year. trends so we expect quarter to this fourth those fiscal same continue our

David Wilson

on at the And funnel. by relative the to just I'd point. We're encouraged this add funnel

While see move this opportunities them that the is paying of our course, And of are in. we're the continuing. and have good that continue positive we're quarter. things continue cautiously this But about optimistic, we come a businesses that we're order expect how developing. macroeconomic low -- orders creep as lot QX, see trends. going by we believing up development we sustainable the precision second resiliency remain we increase attention at position trends earlier, orders supported to lifting earlier, point, conveyance a for direction We, so feel and business And communicated to as we've in we in Europe, to I in I and to our as the in off and have saw we're there seen upward quarter mentioned of

Operator

Steve with from Sidoti will Our be Company. Ferazani last question &

Steve Ferazani

minimum, the end of I it decline, if low for When you that maybe QX. in out inorganic about But just accurate you're sales get sales back at and at as growth, from the wanted would we into QX. Montratec to guidance, indicated think think I the not I looking Montratec, year-over-year? back guidance seem at strong is

David Wilson

our I an Greg, growth think can organic midpoint And have of the sales -- guidance year-over-year. at we

Gregory Rustowicz

That's Yes. right.

quarter. year-over-year do throughout growth, that the developments do as backlog, midpoint we We an that positive we see to think have I have I So organic we'll due a at Steve, shrinking And of guide. before. mentioned the continue sales past expect

But mentioned that challenges down. to and address that customers remarks them work we competitive as with I and that us we and there's into this a business. is into so that And our does pattern And about on feel a progress to ordering quarter, helps prepared gain opportunities times, more been backlog driven more good our we've lead periodic backlog done drive share, become believe we but impact to that had that's we're able those those my in have demand what the we've the get we frequent initiatives. in and making with

year. we And should into as well go so trend that the next

David Wilson

on, just Steve. And to add

So at the midpoint, growth it's company. mid-single-digit for the

Steve Ferazani

When we think X this under about you -- and previous quarters seen we've now in quarters, book-to-bill X. X with I've asked of out

are? in Montratec to are lap how you going growth You're May, that comfortable Montratec we given sales you can get post lapping

David Wilson

coming opportunities frame self-help in landscape for doing. This be our we the momentum I We're the We 'XX. that really a mentioned time that back It's and encouraged remain isn't that order active do compete customers. about with we're the with our our in initiatives, in, remains we're compete within in and healthy. us guidance we'll the May the opportunities share certainly fiscal do feel quarter about in macro. about gain all and But good to growing discussions funnel for the channel with that work the we diversification effectively. to

remain so about optimistic And we the future.

Steve Ferazani

wouldn't up flow. know cash on is you paydowns? being Any the just big it QX quarter debt reason guiding I ramp one and -- the for paydowns. for got you've Last

David Wilson

Which continue Steve. and so, we will we to have do

for will. of going fiscal million that I million than down million pay to about an with $XX guidance for down to we've purchase do ramped the if year, we at be what's in pay of paid for half But is paid So and started fact QX. We're can with down. of we year expect that do up. we million more we $XX of what quarter of price the the $XX million, here debt. $XXX we're we'll have And that, it, roughly a going to think We the interesting Montratec. debt year And $XX roughly

think I a very impressive number. that's

Steve Ferazani

we is XX% rate that debt does as mean [indiscernible]? hedged, get cuts if The of what the

David Wilson

So there's we'll opportunities for debt. markets benefit from and improve, capital always And the as of the to rate cuts X/X sure, do for better. our even

And so what there we'll we look as to can do see well.

Operator

I the back comments. turn end for to the the call Wilson of reached session. now We've closing to would like David question-and-answer

David Wilson

Thank thank for you, everyone, Rob, today. and us you, joining

executing strong proven our with competitive double-digit momentum income we cash improving We're our and the a pleased an in a is and us deliver cash Thanks our making position. your balance dynamic long-term a our sales We fourth that have by transformation playbook powered value. great We're growth which operating with This and platform reflects progress enables day. diversified growth quarter, sheet, team the our Columbus Our and and generator, confident further in have significant for a environment. enhance and profitable delivered we're potential. entering reinvest and flow business delever ability in to shareholder the interest unlocking to McKinnon, for remain in growth.

Operator

today's conference. This concludes

You this for thank we and time, you may lines participation. at disconnect your your

Columbus McKinnon (CMCO) 31 Jan 242024 Q3 Earnings call transcript