Columbus McKinnon Corporation filed SEC Form 8-K: Results of Operations and Financial Condition, Regulation FD Disclosure, Financial Statements and Exhibits
$CMCO
Construction/Ag Equipment/Trucks
Industrials
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): July 31, 2024
(Exact name of registrant as specified in its charter)
(State or other jurisdiction of incorporation)
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Registrant's telephone number including area code: (716 ) 689-5400
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(Former name or former address, if changed since last report)
Securities registered pursuant to Section 12(b) of the Act:
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
| Emerging Growth Company | |||||
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| Item 2.02 | RESULTS OF OPERATIONS AND FINANCIAL CONDITION. | ||||
On July 31, 2024 , Columbus McKinnon Corporation (the "Registrant") issued a press release announcing its financial results for the first quarter, which ended June 30, 2024. The press release is annexed as Exhibit 99.1 to this Current Report on Form 8-K.
| Item 7.01 | REGULATION FD DISCLOSURE. | ||||
The slides used during the earnings call are annexed as Exhibit 99.2 to this Current Report on Form 8-K.
On July 31, 2024, the Registrant announced that it would be relocating its North American linear motion operations from Charlotte, North Carolina to its manufacturing facility in Monterrey, Mexico. The Registrant expects to incur approximately $4,000,000 to $5,000,000 in asset related impairment costs, $1,000,000 to $2,000,000 in employee related severance and retention costs, and approximately $1,000,000 to $2,000,000 in other costs related to the relocation during fiscal 2025.
The information contained in this Form 8-K and the Exhibits annexed hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such filing.
This Current Report on Form 8-K contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to the safe harbor created thereby under the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical or current fact, included in this Current Report on Form 8-K are forward-looking statements. These forward-looking statements reflect our current expectations and projections for the costs expected to be incurred by the Registrant in connection with the relocation of its North American linear motion operations to its manufacturing facility in Monterrey, Mexico and the annual savings expected to be realized by the Registrant as a result of this relocation. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that we expected. Investors are also directed to consider other risks and uncertainties discussed in documents filed by the Registrant with the Securities and Exchange Commission. The forward-looking statements included in this Current Report on Form 8-K are made only as of the date hereof and are based on our current expectations. We undertake no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise except to the extent required by applicable law.
| Item 9.01 | FINANCIAL STATEMENTS AND EXHIBITS. | ||||
(d) Exhibits.
| EXHIBIT NUMBER | DESCRIPTION | |||||||
Press Release dated | ||||||||
Earnings call slides dated | ||||||||
| 104 | Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| COLUMBUS McKINNON CORPORATION | |||||
| By: | /s/ Gregory P. Rustowicz | ||||
| Name: | Gregory P. Rustowicz | ||||
| Title: | Executive Vice President Finance and Chief Financial Officer | ||||
| (Principal Financial Officer) | |||||
Dated: July 31, 2024