CMCO - Columbus McKinnon launches stock offering estimates Q4 prelims

For FQ4, Columbus McKinnon (CMCO) expects revenue to range between $184 to $187M, above earlier announced guidance of $175 to $180M; FY21 revenue is currently expected to range between $647 to $651M.Adj. EBITDA is currently expected to range between $25 to $27M while FY21 adj. EBITDA is seen ranging between $76 to $78M.The orders received during the quarter will range between $208 and $209M compared to $168.7M in the trailing Q3 and $197.3M in 4Q20.Backlog will range between $171 and $172M as of Mar. 31, 2021, up 13% at the midpoint from backlog of $152.4M in the trailing 3Q21 and up 31% at the midpoint from backlog of $131M at the end of FY20.Separately, Columbus McKinnon commenced an underwritten public offering of $150M; underwriters granted 30-days option to purchase up to an additional $22.5M of stock.Net proceeds to be used for repaying in part outstanding borrowings under its first lien

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Columbus McKinnon launches stock offering, estimates Q4 prelims