Columbus McKinnon Corporation (NASDAQ:CMCO) Q4 2024 Results Conference Call May 29, 2024 10:00 AM ET
Company Participants
Kristy Moser - Vice President, Investor Relations and Treasurer
David Wilson - President and Chief Executive Officer
Greg Rustowicz - Chief Financial Officer
Conference Call Participants
Matt Summerville - D. A. Davidson
Stephen Ferazani - Sidoti & Company
Jon Tanwanteng - CJS Securities
Walter Liptak - Seaport Research
Operator
Good morning. Welcome to Columbus McKinnon’s Full Year and Fourth Quarter Fiscal 2024 Earnings Conference Call. My name is Sherry. I will be your conference operator today. As a reminder, this call is being recorded.
I would now like to turn the conference over to Kristy Moser, Vice President of Investor Relations. Please go ahead.
Kristy Moser
Thank you. Good morning, and welcome everyone to Columbus McKinnon's fourth quarter and full year 2024 earnings conference call. The earnings release and presentation are available for download on our Investor Relations website and at investors.cmco.com.
On the call with me today are David Wilson, our President and Chief Executive Officer, and Greg Rustowicz, our Chief Financial Officer. In a moment, David and Greg will walk you through our financial and operating performance for the quarter.
Before we begin our remarks, please let me remind you that we have our safe harbor statement on Slide 2. During the course of this call, management may make forward-looking statements in regards to our current plans, beliefs, and expectations. These statements are not guarantees of future performance and are subject to a number of risks and uncertainties and other factors that can cause actual results and events to differ materially from the results and events contemplated by these forward-looking statements.
I'd also like to remind you that, management will refer to certain non-GAAP financial measures. You can find reconciliations of the most directly comparable GAAP financial measures on the company's Investor Relations website and in its filings with the Securities and Exchange Commission. Please see our earnings release and our filings with the Securities and Exchange Commission for more information. Today's prepared remarks will be followed by a question-and-answer session.
With that, let me turn it over to David.
David Wilson
Thank you, Kristy, and good morning, everyone.
Fiscal 2024 was another record year for Columbus McKinnon as we grew sales by 8% to over $1 billion for the first time in our history and expanded adjusted EBITDA margins by 60 basis points to our highest level ever or 16.4%. We expanded gross margin, benefited from leverage on our growth and remain focused on performance improvement through the Columbus McKinnon Business System and 80/20 actions.