Why Columbus McKinnon's Shares Popped

Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.

What: Shares of Columbus McKinnon (NASDAQ: CMCO  ) jumped 10% today after releasing earnings.

So what: Fiscal third-quarter sales were up 7.3% to $153.2 million and profit was $9.6 million, or $0.49 per share. Analysts expected only $143.95 million in revenue and $0.29 per share in earnings, so the results easily flew past what Wall Street expected.  

Now what: Management said that uncertainty still exists in the U.S., but order growth in Asia is driving the business right now. Analysts were expecting a decline in earnings, so this may be a sign that the business will improve next year. I think the shares still have room to run, considering how wide the earnings beat was on both top and bottom lines.

Interested in more info on Columbus McKinnon? Add it to your watchlist by clicking here.

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