cmco-20201029

EXHIBIT 99.1

News Release

205 Crosspoint Parkway

Buffalo, NY 14068

Immediate Release

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

BUFFALO, NY, October 29, 2020 - Columbus McKinnon Corporation (Nasdaq: CMCO), a leading designer, manufacturer and marketer of motion control products, technologies and services for material handling, today announced financial results for its fiscal year 2021 second quarter, which ended September 30, 2020.

Second Quarter Highlights

•Strong sequential improvement demonstrates effectiveness of cost saving and self-help improvement measures

•Revenue up 13.5% over trailing first fiscal quarter to $157.8 million; at high end of expected range

•Operating income of $15.8 million or 10.0% of sales; Adjusted operating income* of $14.0 million, or 8.9% of sales

•Cash from operations in the quarter was $37.4 million driven by a disciplined focus on reducing working capital requirements

•Advancing product launches and broadening offerings in Compass™ configurator

David Wilson, President and CEO of Columbus McKinnon, commented, “We delivered solid results in the quarter achieving the higher end of our expected revenue range and demonstrated our capabilities to drive profitability and strong cash generation in a challenging environment. In fact, the 80/20 Process, a key tool in our business system, contributed $3.4 million in operating income during the quarter, helping to offset headwinds caused by the pandemic. Our strong cash flow and excellent liquidity position enabled our repayment of the $25 million Revolver borrowing in early October.

“We are building momentum as we strengthen our business operating system, evolve the Blueprint for Growth strategy and pivot to growth. Our focus is on identifying opportunities to both deepen our market penetration and expand our addressable markets. We have the financial strength to continue to invest in prioritized growth initiatives even as we carefully manage our operations and ensure the safety and well-being of the Columbus McKinnon team.”

*Adjusted operating income is a non-GAAP measure. See accompanying discussion and reconciliation table in this release regarding adjusted operating income.

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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Second Quarter Fiscal 2021 Sales


($ in millions)	Q2 FY 21			Q2 FY 20			Change		% Change
Net sales	$	157.8		$	207.6		$	(49.8)	(24.0)	%

U.S. sales	$	84.7		$	113.5		$	(28.8)	(25.4)	%
% of total	54		%	55		%
Non-U.S. sales	$	73.1		$	94.1		$	(21.0)	(22.3)	%
% of total	46		%	45		%

Compared with the prior-year period, lower volume was due to the global economic impact of the COVID-19 pandemic. Lower U.S. sales volume more than offset a 1.1% price improvement while lower volume outside the U.S. was somewhat offset by a $2.2 million, or 2.3%, positive impact from foreign currency translation and price improvement of 1.2%.

Compared with the trailing first quarter, sales improved 13.5% with short cycle sales up 22.2% and project sales up 5.5%.

Second Quarter Fiscal 2021 Operating Results


($ in millions)	Q2 FY 21			Q2 FY 20			Change		% Change
Gross profit	$	56.0		$	73.5		$	(17.5)	(23.8)	%
Gross margin	35.5		%	35.4		%	10 bps
Income from operations	$	15.8		$	25.2		$	(9.4)	(37.3)	%
Operating margin	10.0		%	12.2		%	(220) bps
Net income (loss)	$	(4.1)		$	16.6		$	(20.7)	NM
Diluted EPS	$	(0.17)		$	0.69		$	(0.86)	NM
Adjusted EBITDA *	$	21.1		$	33.7		$	(12.5)	(37.2)	%
Adjusted EBITDA margin	13.4		%	16.2		%	(280) bps

*A non-GAAP measure, Adjusted EBITDA is defined as adjusted operating income plus depreciation and amortization. Please see the attached tables for a reconciliation of adjusted EBITDA to GAAP net income (loss).

Adjusted income from operations was $14.0 million, or 8.9% of sales. Decremental adjusted operating income leverage from the prior-year period was 25% which continues to demonstrate better than historic decremental leverage. (See the reconciliation of GAAP income from operations to adjusted income from operations on the attached tables.) Net loss for the quarter was $4.1 million, which included a $16.3 million non-cash pension settlement charge related to the termination of a U.S. pension plan.

On a sequential basis, Adjusted EBITDA was up $9.1 million, or 74.9%, to $21.1 million on an $18.7 million increase in sales. Adjusted EBITDA margin expanded 470 basis points sequentially to 13.4% from the fiscal 2021 first quarter.

Third Quarter Fiscal 2021 Outlook

Orders were up nearly 26% compared with the trailing first quarter. Order growth was driven mostly by the recovery of the short cycle business, which improved 41% over the first quarter this fiscal year whereas the project business grew at a rate of 12%. Total backlog has recovered to pre-COVID levels and long-term backlog, which is expected to ship beyond the fiscal third quarter, grew to 41.5% of total backlog. As a result, the Company expects third quarter fiscal 2021 revenue to be within a range of approximately $150 million to $160 million at current exchange rates.

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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October 29, 2020

Mr. Wilson concluded, “I am really proud of the team and how we have executed in the first half of the fiscal year. Importantly, we are keeping our eye on the long term as we advance our strategic plan. In the second quarter, we launched several new products, expanded the capabilities of our Compass™ configurator and increased our focus on improving our customers’ experience. I am confident we will continue to execute well, and we will emerge from these challenging times a better company.”

Teleconference/webcast

Columbus McKinnon will host a conference call and live webcast Thursday, October 29, 2020 at 10:00 AM Eastern Time, at which management will review the Company’s financial results and strategy. The review will be accompanied by a slide presentation, which will be available on Columbus McKinnon’s website at investors.columbusmckinnon.com. A question and answer session will follow the formal discussion.

The conference call can be accessed by dialing 201-493-6780. The listen-only audio webcast can be monitored at https://investors.columbusmckinnon.com. To listen to the archived call, dial 412-317-6671 and enter the passcode 13710950. The telephonic replay will be available from 1:00 PM Eastern Time on the day of the call through Thursday, November 5, 2020. Alternatively, an archived webcast of the call can be found on the Company’s website. In addition, a transcript of the call will be posted to the website once available.

About Columbus McKinnon

Columbus McKinnon is a leading worldwide designer, manufacturer and marketer of motion control products, technologies, systems and services that efficiently and ergonomically move, lift, position and secure materials. Key products include hoists, actuators, rigging tools, light rail work stations and digital power and motion control systems. The Company is focused on commercial and industrial applications that require the safety and quality provided by its superior design and engineering know-how. Comprehensive information on Columbus McKinnon is available at www.columbusmckinnon.com.

Safe Harbor Statement

This news release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future sales and earnings, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including the impact of Covid-19 and the Company’s efforts to reduce costs, maintain liquidity and generate cash in the current pandemic, the effectiveness of the Company’s 80/20 Process to simplify operations, the ability of the Company’s Operational Excellence initiatives to drive profitability, the Company’s ability to grow market share, the ability to achieve revenue expectations, global economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the ability to expand into new markets and geographic regions, and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release.

Contacts:


Gregory P. Rustowicz			Investor Relations:
Vice President - Finance and Chief Financial Officer			Deborah K. Pawlowski
Columbus McKinnon Corporation			Kei Advisors LLC
716-689-5442			716-843-3908
[email protected]			[email protected]

Financial tables follow.

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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COLUMBUS McKINNON CORPORATION

Condensed Consolidated Income Statements - UNAUDITED

(In thousands, except per share and percentage data)


	Three Months Ended
	September 30, 2020			September 30, 2019			Change
Net sales	$	157,790		$	207,609		(24.0)	%
Cost of products sold	101,765			134,116			(24.1)	%
Gross profit	56,025			73,493			(23.8)	%
Gross profit margin	35.5		%	35.4		%
Selling expenses	18,563			22,877			(18.9)	%
% of net sales	11.8		%	11.0		%
General and administrative expenses	15,554			19,153			(18.8)	%
% of net sales	9.9		%	9.2		%
Research and development expenses	2,896			2,999			(3.4)	%
% of net sales	1.8		%	1.4		%
Loss on sales of businesses	—			7			NM
Amortization of intangibles	3,192			3,226			(1.1)	%
Income from operations	15,820			25,231			(37.3)	%
Operating margin	10.0		%	12.2		%
Interest and debt expense	3,018			3,759			(19.7)	%
Investment (income) loss	(357)			(229)			55.9	%
Foreign currency exchange (gain) loss	397			(296)			NM
Other (income) expense, net	16,911			257			6,480.2	%
Income (loss) before income tax expense (benefit)	(4,149)			21,740			NM
Income tax expense (benefit)	(45)			5,141			NM
Net income (loss)	$	(4,104)		$	16,599		NM

Average basic shares outstanding	23,883			23,631			1.1	%
Basic income (loss) per share	$	(0.17)		$	0.70		NM

Average diluted shares outstanding	23,883			23,926			(0.2)	%
Diluted income (loss) per share	$	(0.17)		$	0.69		NM

Dividends declared per common share	$	0.06		$	0.06

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COLUMBUS McKINNON CORPORATION

Condensed Consolidated Income Statements - UNAUDITED

(In thousands, except per share and percentage data)


	Six Months Ended
	September 30, 2020			September 30, 2019			Change
Net sales	$	296,860		$	420,321		(29.4)	%
Cost of products sold	196,038			271,216			(27.7)	%
Gross profit	100,822			149,105			(32.4)	%
Gross profit margin	34.0		%	35.5		%
Selling expenses	37,258			45,632			(18.4)	%
% of net sales	12.6		%	10.9		%
General and administrative expenses	33,983			38,753			(12.3)	%
% of net sales	11.4		%	9.2		%
Research and development expenses	5,665			5,791			(2.2)	%
% of net sales	1.9		%	1.4		%
Loss on sales of businesses	—			176			NM
Amortization of intangibles	6,307			6,479			(2.7)	%
Income from operations	17,609			52,274			(66.3)	%
Operating margin	5.9		%	12.4		%
Interest and debt expense	6,206			7,611			(18.5)	%
Investment (income) loss	(934)			(531)			75.9	%
Foreign currency exchange (gain) loss	481			(706)			NM
Other (income) expense, net	19,937			419			4,658.2	%
Income (loss) before income tax expense (benefit)	(8,081)			45,481			NM
Income tax expense (benefit)	(1,008)			10,303			NM
Net income (loss)	$	(7,073)		$	35,178		NM

Average basic shares outstanding	23,843			23,532			1.3	%
Basic income (loss) per share	$	(0.30)		$	1.49		NM

Average diluted shares outstanding	23,843			23,832			—	%
Diluted income (loss) per share	$	(0.30)		$	1.48		NM

Dividends declared per common share	$	0.06		$	0.06

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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COLUMBUS McKINNON CORPORATION

Condensed Consolidated Balance Sheets

(In thousands)


	September 30, 2020		March 31, 2020
	(unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	186,556	$	114,450
Trade accounts receivable	92,540		123,743
Inventories	112,095		127,373
Prepaid expenses and other	18,124		17,180
Total current assets	409,315		382,746

Property, plant, and equipment, net	72,782		79,473
Goodwill	330,859		319,679
Other intangibles, net	219,434		217,962
Marketable securities	8,534		7,322
Deferred taxes on income	27,798		26,281
Other assets	63,212		59,809
Total assets	$	1,131,934	$	1,093,272

LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities:
Trade accounts payable	$	37,724	$	57,289
Accrued liabilities	88,679		93,585
Current portion of long-term debt	29,450		4,450
Total current liabilities	155,853		155,324

Term loan and revolving credit facility	245,680		246,856
Other non-current liabilities	250,445		227,507
Total liabilities	651,978		629,687

Shareholders’ equity:
Common stock	239		238
Additional paid-in capital	290,690		287,256
Retained earnings	281,935		290,441
Accumulated other comprehensive loss	(92,908)		(114,350)
Total shareholders’ equity	479,956		463,585
Total liabilities and shareholders’ equity	$	1,131,934	$	1,093,272

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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COLUMBUS McKINNON CORPORATION

Condensed Consolidated Statements of Cash Flows - UNAUDITED

(In thousands)


	Six Months Ended
	September 30, 2020		September 30, 2019
Operating activities:
Net income (loss)	$	(7,073)	$	35,178
Adjustments to reconcile net income (loss) to net cash provided by (used for) operating activities:
Depreciation and amortization	14,210		14,747
Deferred income taxes and related valuation allowance	(6,745)		748
Net loss (gain) on sale of real estate, investments, and other	(557)		(446)
Stock based compensation	3,989		3,511
Amortization of deferred financing costs	1,327		1,327
Loss on sales of businesses	—		176
Non-cash pension settlement expense	19,046		—
Gain on sale of building	(2,638)		—
Non-cash lease expense	3,785		4,223
Changes in operating assets and liabilities, net of effects of business acquisitions and divestitures:
Trade accounts receivable	33,594		(2,648)
Inventories	18,987		1,400
Prepaid expenses and other	(1,627)		(2,883)
Other assets	570		(171)
Trade accounts payable	(20,078)		332
Accrued liabilities	(7,895)		(8,230)
Non-current liabilities	(1,952)		(9,384)
Net cash provided by (used for) operating activities	46,943		37,880

Investing activities:
Proceeds from sales of marketable securities	1,034		1,928
Purchases of marketable securities	(1,759)		(2,581)
Capital expenditures	(2,779)		(4,843)
Proceeds from sale of building, net of transaction costs	5,453		—
Dividend received from equity method investment	587		—
Proceeds from sale of equipment	—		51
Net (payments) proceeds from sales of businesses	—		(214)
Net cash provided by (used for) investing activities	2,536		(5,659)

Financing activities:
Proceeds from issuance of common stock	429		3,784
Borrowings under line-of-credit agreements	25,000		—
Repayment of debt	(2,225)		(30,000)
Fees paid for revolver extension	(826)		—
Payment of dividends	(2,860)		(2,824)
Other	(982)		(544)
Net cash provided by (used for) financing activities	18,536		(29,584)

Effect of exchange rate changes on cash	4,091		(1,751)

Net change in cash and cash equivalents	72,106		886
Cash, cash equivalents, and restricted cash at beginning of year	114,700		71,343
Cash, cash equivalents, and restricted cash at end of period	$	186,806	$	72,229

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COLUMBUS McKINNON CORPORATION

Q2 FY 2021 Sales Bridge


	Quarter				Year To Date
($ in millions)	$ Change		% Change		$ Change		% Change
Fiscal 2020 Sales	$	207.6			$	420.3
Volume	(54.3)		(26.2)	%	(128.4)		(30.5)	%
Pricing	2.3		1.1	%	4.8		1.1	%
Foreign currency translation	2.2		1.1	%	0.2		—	%
Total change	$	(49.8)	(24.0)	%	$	(123.4)	(29.4)	%
Fiscal 2021 Sales	$	157.8			$	296.9

COLUMBUS McKINNON CORPORATION

Q2 FY 2021 Gross Profit Bridge


($ in millions)	Quarter		Year To Date
Fiscal 2020 Gross Profit	$	73.5	$	149.1
Pricing, net of material cost inflation	2.3		4.7
Gain on sale of building	2.2		2.2
Tariffs	0.6		1.4
Foreign currency translation	0.8		0.2
Business realignment costs	0.1		(0.2)
Insurance settlement	—		(0.3)
Factory closures	(0.3)		(1.6)
Productivity, net of other cost changes	(3.8)		(8.3)
Sales volume and mix	(19.4)		(46.4)
Total change	$	(17.5)	$	(48.3)
Fiscal 2021 Gross Profit	$	56.0	$	100.8

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COLUMBUS McKINNON CORPORATION

Additional Data - UNAUDITED


	September 30, 2020			June 30, 2020			March 31, 2020			September 30, 2019
($ in millions)
Backlog	$	146.6		$	130.7		$	131.0		$	143.1
Long-term backlog
Expected to ship beyond 3 months	$	60.8		$	52.8		$	49.1		$	53.9
Long-term backlog as % of total backlog	41.5		%	40.4		%	37.5		%	37.7		%

Trade accounts receivable
Days sales outstanding	53.4		days	63.1		days	59.4		days	57.0		days

Inventory turns per year
(based on cost of products sold)	3.6		turns	3.0		turns	3.9		turns	3.8		turns
Days' inventory	100.5		days	120.6		days	94.3		days	96.9		days

Trade accounts payable
Days payables outstanding	33.7		days	37.6		days	42.3		days	33.2		days

Working capital as a % of sales (1)	14.1		%	14.9		%	14.5		%	17.2		%

Debt to total capitalization percentage	36.4		%	37.1		%	35.2		%	36.9		%

Debt, net of cash, to net total capitalization	15.6		%	20.9		%	22.8		%	30.1		%

(1) September 30, 2019 figure excludes the Tire Shredder business, which was divested on December 28, 2018, and Crane Equipment & Service, Inc. (CES) and Stahlhammer Bommern GmbH (STB), each of which were divested on February 28, 2019.


U.S. Shipping Days by Quarter
	Q1	Q2	Q3	Q4	Total
FY 21	63	64	61	63	251

FY 20	63	63	61	64	251

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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COLUMBUS McKINNON CORPORATION

Reconciliation of GAAP Gross Profit to

Non-GAAP Adjusted Gross Profit and Adjusted Gross Margin

($ in thousands, except per share data)


	Three Months Ended September 30,						Six Months Ended September 30,
	2020			2019			2020			2019
Gross profit	$	56,025		$	73,493		$	100,822		$	149,105
Add back (deduct):
Factory closures	493			249			2,421			755
Business realignment costs	—			140			329			140
Insurance settlement	—			—			—			(290)
Gain on sale of building	(2,189)			—			(2,189)			—
Non-GAAP adjusted gross profit	$	54,329		$	73,882		$	101,383		$	149,710

Sales	$	157,790		$	207,609		$	296,860		$	420,321
Adjusted gross margin	34.4		%	35.6		%	34.2		%	35.6		%

Adjusted gross profit is defined as gross profit as reported, adjusted for certain items. Adjusted gross profit is not a measure determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable with the measures as used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP information, such as adjusted gross profit, is important for investors and other readers of the Company’s financial statements and assists in understanding the comparison of the current quarter’s and current year's gross profit to the historical periods' gross profit, as well as facilitates a more meaningful comparison of the Company’s gross profit to that of other companies.

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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October 29, 2020

COLUMBUS McKINNON CORPORATION

Reconciliation of GAAP Income from Operations to

Non-GAAP Adjusted Income from Operations and Adjusted Operating Margin

($ in thousands, except per share data)


	Three Months Ended September 30,						Six Months Ended September 30,
	2020			2019			2020			2019
Income from operations	$	15,820		$	25,231		$	17,609		$	52,274
Add back (deduct):
Factory closures	747			470			3,003			1,497
Business realignment costs	—			413			821			413
Insurance recovery legal costs	88			220			229			359
Loss on sales of businesses	—			7			—			176
Insurance settlement	—			—			—			(290)
Gain on sale of building	(2,638)			—			(2,638)			—
Non-GAAP adjusted income from operations	$	14,017		$	26,341		$	19,024		$	54,429

Sales	$	157,790		$	207,609		$	296,860		$	420,321
Adjusted operating margin	8.9		%	12.7		%	6.4		%	12.9		%

Adjusted income from operations is defined as income from operations as reported, adjusted for certain items. Adjusted income from operations is not a measure determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable with the measures as used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP information, such as adjusted income from operations, is important for investors and other readers of the Company’s financial statements and assists in understanding the comparison of the current quarter’s and current year's income from operations to the historical periods' income from operations, as well as facilitates a more meaningful comparison of the Company’s income from operations to that of other companies.

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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October 29, 2020

COLUMBUS McKINNON CORPORATION

Reconciliation of GAAP Net Income and Diluted Earnings per Share to

Non-GAAP Adjusted Net Income and Diluted Earnings per Share

($ in thousands, except per share data)


	Three Months Ended September 30,				Six Months Ended September 30,
	2020		2019		2020		2019
Net income (loss)	$	(4,104)	$	16,599	$	(7,073)	$	35,178
Add back (deduct):
Non-cash pension settlement expense	16,324		—		19,046		—
Factory closures	747		470		3,003		1,497
Business realignment costs	—		413		821		413
Insurance recovery legal costs	88		220		229		359
Loss on sales of businesses	—		7		—		176
Insurance settlement	—		—		—		(290)
Gain on sale of building	(2,638)		—		(2,638)		—
Normalize tax rate to 22% (1)	(2,327)		114		(3,732)		(177)
Non-GAAP adjusted net income	$	8,090	$	17,823	$	9,656	$	37,156

Average diluted shares outstanding	24,123		23,926		24,030		23,832

Diluted income (loss) per share - GAAP	$	(0.17)	$	0.69	$	(0.30)	$	1.48

Diluted income per share - Non-GAAP	$	0.34	$	0.74	$	0.40	$	1.56

(1) Applies a normalized tax rate of 22% to GAAP pre-tax income and non-GAAP adjustments above, which are each pre-tax.

Adjusted net income and diluted EPS are defined as net income and diluted EPS as reported, adjusted for certain items and at a normalized tax rate. Adjusted net income and diluted EPS are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable to the measures as used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP information, such as adjusted net income and diluted EPS, is important for investors and other readers of the Company’s financial statements and assists in understanding the comparison of the current quarter’s and current year's net income and diluted EPS to the historical periods' net income and diluted EPS, as well as facilitates a more meaningful comparison of the Company’s net income and diluted EPS to that of other companies.

Columbus McKinnon Reports Financial Results for Second Quarter Fiscal Year 2021

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October 29, 2020

COLUMBUS McKINNON CORPORATION

Reconciliation of GAAP Net Income to Non-GAAP Adjusted EBITDA

($ in thousands)


	Three Months Ended September 30,						Six Months Ended September 30,
	2020			2019			2020			2019
Net income (loss)	$	(4,104)		$	16,599		$	(7,073)		$	35,178
Add back (deduct):
Income tax expense (benefit)	(45)			5,141			(1,008)			10,303
Interest and debt expense	3,018			3,759			6,206			7,611
Investment (income) loss	(357)			(229)			(934)			(531)
Foreign currency exchange (gain) loss	397			(296)			481			(706)
Other (income) expense, net	16,911			257			19,937			419
Depreciation and amortization expense	7,129			7,344			14,210			14,747
Factory closures	747			470			3,003			1,497
Business realignment costs	—			413			821			413
Insurance recovery legal costs	88			220			229			359
Loss on sales of businesses	—			7			—			176
Insurance settlement	—			—			—			(290)
Gain on sale of building	(2,638)			—			(2,638)			—
Non-GAAP adjusted EBITDA	$	21,146		$	33,685		$	33,234		$	69,176

Sales	$	157,790		$	207,609		$	296,860		$	420,321
Adjusted EBITDA margin	13.4		%	16.2		%	11.2		%	16.5		%

Adjusted EBITDA is defined as net income before interest expense, income taxes, depreciation, amortization, and other adjustments. Adjusted EBITDA is not a measure determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable with the measures as used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP information, such as adjusted EBITDA, is important for investors and other readers of the Company’s financial statements.

Q2 Fiscal Year 2021 Financial Results Conference Call October 29, 2020 David J. Wilson President and Chief Executive Officer Gregory P. Rustowicz Vice President – Finance & Chief Financial Officer

Safe Harbor Statement These slides, and the accompanying oral discussion, contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements concerning future sales and earnings, involve known and unknown risks, uncertainties and other factors that could cause the actual results of the Company to differ materially from the results expressed or implied by such statements, including the impact of Covid-19 and the Company’s efforts to reduce costs, maintain liquidity and generate cash in the current pandemic, the effectiveness of the Company’s 80/20 Process to simplify operations, the ability of the Company’s Operational Excellence initiatives to drive profitability, the Company’s ability to grow market share, the ability to achieve revenue expectations, global economic and business conditions, conditions affecting the industries served by the Company and its subsidiaries, conditions affecting the Company's customers and suppliers, competitor responses to the Company's products and services, the overall market acceptance of such products and services, the ability to expand into new markets and geographic regions, and other factors disclosed in the Company's periodic reports filed with the Securities and Exchange Commission. The Company assumes no obligation to update the forward-looking information contained in this release. Non-GAAP Financial Measures This presentation will discuss some non-GAAP (“adjusted”) financial measures which we believe are useful in evaluating our performance. You should not consider the presentation of this additional information in isolation or as a substitute for results compared in accordance with GAAP. The non-GAAP (“adjusted”) measures are noted and reconciliations of comparable GAAP with non-GAAP measures can be found in tables included in the Supplemental Information portion of this presentation. 2

Building Momentum Solid recovery from trailing first quarter; effect of Blueprint for Growth strategy demonstrated in margin improvement • Sales were $157.8 million, at upper end of expected range • Strong gross margin of 35.5% positively impacted by the $2.2 million gain on sale of a facility in China; adjusted gross margin was 34.4% • Operating income of $15.8 million; adjusted operating income of $14.0 million and adjusted operating margin of 8.9% • Diluted net loss per share of $(0.17) due to a non-cash pension settlement charge of $16.3 million; adjusted earnings per share of $0.34 Strengthening business system: Significant cash from operations and free cash flow • Generated $37.4 million in cash from operations; $46.9 million YTD • Free cash flow of $35.7 million in the quarter and $44.2 million YTD • Strong capital structure with net debt leverage ratio(1) below 1.0x • Liquidity of $245 million at end of quarter Improved profitability and strong cash generation reflect a strengthening Columbus McKinnon Business System (CMBS) (1)Net debt leverage ratio is defined as Net Debt / TTM Adjusted EBITDA 3

Sequential Improvement Q2 FY2021 vs Q1 FY2021: Results demonstrate improvement from Q1 FY2021 trough ($ in millions) Net Sales Adjusted Operating Income & Margin $157.8 $14.0 $139.1 $15.8 $5.0 3.6% $1.8 8.9% Q1 FY21 Q2 FY21 Q1 FY21 Q2 FY21 Positive sequential improvement Income from Operations Non-GAAP Adjustments • Net sales increased $18.7 million, or 13.5% Adjusted EBITDA & Margin • Strong rebound in short cycle business $21.1 • Adjusted operating income increased $9 million to $14 million $12.1 • Adjusted operating leverage of 48% 13.4% • Sequentially 80/20 tools contributed $1.3 million 8.7% Adjusted EBITDA margin expanded 470 bps to 13.4% Q1 FY21 Q2 FY21 Actions taken deliver improved performance as volume returns 4

Net Sales ($ in millions) Q2 sales down 24.0%, or $49.8 million Q2 FY21 Sales Bridge • U.S.: Pricing of 1.1% partially offset 26.4% volume Quarter decline • Non-U.S: Pricing of 1.2% and 2.3% favorable FX Q2 FY20 Sales $ 207.6 partially offset 25.8% volume decline Volume (54.3) (26.2)% Pricing 2.3 1.1% $207.6 $199.4 $189.5 Foreign currency translation 2.2 1.1% $157.8 $139.1 Total change $ (49.8) (24.0)% Q2 FY21 Sales $ 157.8 Note: Components may not add to totals due to rounding Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Year-over-year change in sales volume reflects COVID-19 impact 5

Gross Profit & Margin ($ in millions) Quarter Gross Profit Bridge Quarter $73.5 Q2 FY20 Gross Profit $ 73.5 $67.9 $66.2 Pricing, net of material cost inflation 2.3 $56.0 Gain on sale of building 2.2 $54.3 Foreign currency translation 0.8 $44.8 34.4% Tariffs 0.6 Business realignment costs 0.1 Factory closures (0.3) Productivity, net of other cost changes (3.8) 35.4% 34.0% 34.9% 32.2% 35.5% Sales volume and mix (19.4) Total Change $ (17.5) Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q2 FY21 Gross Profit $ 56.0 Gross profit adjustments primarily due to gain on sale of building 80/20 process and operational efficiencies deliver strong gross margins despite lower volume 6

RSG&A ($ in millions) RSG&A at 23.5% of sales RSG&A as 21.7% 21.9% 24.4% 28.7% 23.5% % of sales: Reduced Y/Y by: $46.3 • $7.2 million of net cost reductions $45.0 $43.8 $39.9 • $0.9 million less bad debt expense $2.9 $37.0 $3.0 $2.6 $2.8 • $0.4 million for gain on sale of building $2.9 Increased Y/Y by: $19.2 $18.0 $21.2 $18.4 $15.6 • $0.5 million unfavorable FX Q3 FY21 RSG&A estimate of approximately $43 million* $22.9 $23.2 $22.3 $18.7 $18.6 • Sequential increase includes second half incentive Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 compensation accrual, growth investments and return Selling G&A R&D to work impacts Note: Components may not add to totals due to rounding Containing costs while ramping investments for growth *RSG&A guidance provided October 29, 2020 excludes business realignment costs 7

Operating Income & Adjusted OI Margin ($ in millions) Q2 FY21 operating income of $15.8 million • $2.6 million favorable impact from gain on sale of building $26.3 • Adjusted operating income of $14.0 million $23.1 $25.2 $20.2 Adjusted operating margin of 8.9% $20.9 $14.0 • Volume decline of 26.2% due to COVID-19 $16.7 $15.8 • Cost savings partially offset lower volume 12.7% 11.6% 10.7% 8.9% $5.0 Improved Y/Y decremental 3.6% adjusted operating leverage to 25% $1.8 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Income from Operations Non-GAAP Adjustments Driving profitability in challenging environment 8

Earnings Per Share GAAP Diluted EPS Net income impacted by: $0.69 $0.63 • $16.3 million pension settlement expense related to $0.39 termination of U.S. pension plan • Factory closure costs of $0.7 million • Favorable impact of $2.6 million from gain on sale of facility ($0.12) ($0.17) Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Adjusted EPS FY21 expected tax rate: 10% to 12%* $0.74 • Lower tax rate due to U.S. pre-tax losses from pension $0.64 $0.58 settlement expense, U.S. R&D tax credit and utilization of net operating losses $0.34 $0.07 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Adjusted EPS demonstrates strengthening earnings power from CMBS * Tax rate guidance provided October 29, 2020 9

Adjusted EBITDA & ROIC Adjusted EBITDA Margin Solid adjusted EBITDA margin during challenging environment 15.7% 15.1% • Adjusted EBITDA margin in Q2 FY2021 improved to 13.4% from 8.7% in trailing first quarter 13.3% • Continuing to target 19% Adjusted EBITDA margin post COVID-19 recession FY19 FY20 Q2 FY21 TTM Return on Invested Capital (ROIC)(1) Return on Invested Capital expected to improve • Continuing to target mid-teen ROIC post Covid-19 11.2% 11.5% recession 7.1% (1)ROIC is defined as adjusted income from operations, net of taxes at a 22% normalized rate, for the trailing 12 months divided by the average of debt plus equity less cash (average capital) FY19 FY20 Q2 FY21 TTM for the trailing 13 months. Confident we are building a better Columbus McKinnon to achieve long-term goals 10

Cash Flow Outstanding cash generation ($ in millions) Free Cash Flow(1) Three Months Ended YTD 9/30/20 9/30/19 9/30/20 Net cash provided by $108.5 $37.4 $40.0 $46.9 operating activities $97.4 CapEx (1.7) (3.0) (2.8) Free cash flow (FCF) $35.7 $37.1 $44.2 $67.2 Note: Components may not add to totals due to rounding $55.1 • Operating cadence drove working capital reduction • Capital expenditures of $2.8 million in 1H FY21 • FY21 expected CapEx: $14 - $15 million FY18 FY19 FY20 Q2 FY21 TTM Significant cash generation resulted from reduced working capital requirements Capital expenditure guidance provided October 29, 2020 11 (1)Free cash flow is defined as cash provided by operating activities minus capital expenditures

Capital Structure ($ in millions) Significant financial flexibility in uncertain CAPITALIZATION macroeconomic environment Sept. 30, March 31, Net debt leverage ratio below target of 2.0x 2020 2020 • Net debt leverage ratio(1) of 0.97x Cash and cash equivalents $ 186.6 $ 114.5 • Net debt to net total capital 15.6% Total debt 275.1 251.3 Total liquidity of $244.8 million at quarter end Total net debt 88.6 136.9 Shareholders’ equity 480.0 463.6 Paid down $25 million Revolver draw Total capitalization $ 755.1 $ 714.9 • Covenant-lite credit agreement Debt/total capitalization 36.4% 35.2% • Financial covenant of 3.0x Net debt/net total capitalization 15.6% 22.8% • Tested only if outstanding borrowings • Extended maturity to August 25, 2023 Significant financial strength and liquidity supports pivot to growth (1) Net debt leverage ratio is defined as Net Debt / TTM Adjusted EBITDA 12

Orders and Backlog ($ in millions) Solid orders of $172.7 million in the quarter Backlog of $146.6 million up 2% year over year • Recovery of short-cycle businesses drove • Long-term backlog expanded to 41.5% of total backlog 26% sequential order increase • 12% sequential increase of total backlog driven by both project and short-cycle businesses $205.3 $197.3 $146.6 $179.4 $143.1 $172.7 $125.3 $131.0 $130.7 $137.4 $89.2 $74.0 $81.9 $77.9 $85.8 $53.9 $51.3 $49.1 $52.8 $60.8 0.99x 0.90x 1.04x 0.99x 1.09x Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Orders Book:Bill Long Term Backlog* Short Term Backlog Backlog recovered to pre-COVID levels *Long-term backlog is expected to ship beyond three months 13

Driving Innovation Creating competitive advantages Product Launch Update Tandem Hoist Intelli-Lift™ Auto Detection Utility Lever Hoist • Improved facility safety for large • Visible and audible warnings when • Safety brake prevents unexpected complex loads off-center pick is detected load release • Available in Compass™ configurator • Auto-correction mode • Two patent applications on the YaleErgo 360 Improved customer experience, safety and productivity at the core of new product development 14

Outlook and Perspective Q3 FY2021 outlook • Expect Q3 FY21 net sales of $150 million to $160 million despite fewer shipping days Blueprint for Growth strategy is evolving • Strengthening our business system • Advancing our growth framework Consistent capital allocation priorities • Investing internally • Targeted growth initiatives • Productivity CapEx • Building our acquisition pipeline • Providing a consistent dividend that will grow over time Building a stronger Columbus McKinnon 15

Q2 Fiscal Year 2021 Financial Results Conference Call October 29, 2020 David J. Wilson President and Chief Executive Officer Gregory P. Rustowicz Vice President – Finance & Chief Financial Officer

Supplemental Information 17

Conference Call Playback Info Replay Number: 412-317-6671 passcode: 13710950 Telephone replay available through November 5, 2020 Webcast / PowerPoint / Replay available at investors.columbusmckinnon.com Transcript, when available, at investors.columbusmckinnon.com 18

Adjusted Gross Profit Reconciliation ($ in thousands) Quarter Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Gross profit $ 73,493 $ 67,872 $ 66,209 $ 44,797 $ 56,025 Add back (deduct): Factory closures 249 696 1,349 1,928 493 Business realignment costs 140 123 774 329 — Insurance settlement — (77) (15) — — Gain on sale of building — — — — (2,189) Non-GAAP adjusted gross profit $ 73,882 $ 68,614 $ 68,317 $ 47,054 $ 54,329 Sales 207,609 199,355 189,486 139,070 157,790 Adjusted gross margin 35.6% 34.4% 36.1% 33.8% 34.4% Adjusted gross profit is defined as gross profit as reported, adjusted for certain items. Adjusted gross profit is not a measure determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable with the measures as used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP information, such as adjusted gross profit, is important for investors and other readers of the Company’s financial statements and assists in understanding the comparison of the current quarter’s and current year's gross profit to the historical periods' gross profit, as well as facilitates a more meaningful comparison of the Company’s gross profit to that of other companies. 19

Adjusted Income from Operations Reconciliation ($ in thousands) Quarter Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Income from operations $ 25,231 $ 20,886 $ 16,664 $ 1,789 $ 15.820 Add back (deduct): Factory closures 470 1,592 1,621 2,256 747 Business realignment costs 413 662 1,755 821 — Insurance recovery legal costs 220 66 160 141 88 Loss on sales of businesses 7 — — — — Insurance settlement — (77) (15) — — Gain on sale of building — — — — (2.638) Non-GAAP adjusted income from operations $ 26,341 $ 23,129 $ 20,185 $ 5,007 $ 14,017 Sales 207,609 199,355 189,486 139,070 157,790 Adjusted operating margin 12.7% 11.6% 10.7% 3.6% 8.9% Adjusted income from operations is defined as income from operations as reported, adjusted for certain items. Adjusted income from operations is not a measure determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable with the measures as used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP information, such as adjusted income from operations, is important for investors and other readers of the Company’s financial statements and assists in understanding the comparison of the current quarter’s and current year's income from operations to the historical periods' income from operations, as well as facilitates a more meaningful comparison of the Company’s income from operations to that of other companies. 20

Adjusted Net Income Reconciliation ($ in thousands, except per share data) Quarter Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Net income (loss) $ 16,599 $ 15,250 $ 9,244 $ (2,969) $ (4,104) Add back (deduct): Non-cash pension settlement expense — — — 2,722 16,324 Factory closures 470 1,592 1,621 2,256 747 Business realignment costs 413 662 1,755 821 — Insurance recovery legal costs 220 66 160 141 88 Loss on sales of businesses 7 — — — — Insurance settlement — (77) (15) — — Gain on sale of building — — — — (2,638) Normalize tax rate to 22%(1) 114 (2,106) 1,050 (1,405) (2,327) Non-GAAP adjusted net income $ 17,823 $ 15,387 $ 13,815 $ 1,566 $ 8,090 Average diluted shares outstanding 23,926 24,031 23,938 23,922 24,123 Diluted income (loss) per share – GAAP $0.69 $0.63 $0.39 $(0.12) $(0.17) Diluted income per share - Non-GAAP $0.74 $0.64 $0.58 $0.07 $0.34 (1) Applies normalized tax rate of 22% to GAAP pre-tax income and non-GAAP adjustments above, which are each pre-tax. Adjusted net income and diluted EPS are defined as net income and diluted EPS as reported, adjusted for certain items and at a normalized tax rate. Adjusted net income and diluted EPS are not measures determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable to the measures as used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP information, such as adjusted net income and diluted EPS, is important for investors and other readers of the Company’s financial statements and assists in understanding the comparison of the current quarter’s and current year's net income and diluted EPS to the historical periods' net income and diluted EPS, as well as facilitates a more meaningful comparison of the Company’s net income and diluted EPS to that of other companies. 21

Adjusted EBITDA Reconciliation ($ in thousands) Quarter Fiscal Year Q2 FY20 Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 2020 2019 Net income (loss) $ 16,599 $ 15,250 $ 9,244 $ (2,969) $ (4,104) $ 59,672 $ 42,577 Add back (deduct): Income tax expense (benefit) 5,141 2,234 4,947 (963) (45) 17,484 10,321 Interest and debt expense 3,759 3,423 3,200 3,188 3,018 14,234 17,144 Investment (income) loss (229) (408) 48 (577) (357) (891) (727) Foreign currency exchange (gain) loss (296) (188) (996) 84 397 (1,514) 843 Other (income) expense, net 257 199 221 3,026 16,911 839 (716) Depreciation and amortization expense 7,344 7,244 7,135 7,081 7,129 29,126 32,675 Factory closures 470 1,592 1,621 2,256 747 4,709 1,473 Business realignment costs 413 662 1,755 821 — 2,831 1,906 Insurance recovery legal costs 220 66 160 141 88 585 1,282 Loss on sales of businesses 7 — — — — 176 25,672 Insurance settlement — (77) (15) — — (382) — Gain on sale of building — — — — (2,638) — — Non-GAAP adjusted EBITDA $ 33,685 $ 30,373 $ 27,320 $ 12,088 $ 21,146 $ 126,869 $ 132,450 Sales $ 207,609 $ 199,355 $ 189,486 $ 139,070 $ 157,790 $ 809,162 $ 876,282 Adjusted EBITDA margin 16.2% 15.2% 14.4% 8.7% 13.4% 15.7% 15.1% Adjusted EBITDA is defined as net income before interest expense, income taxes, depreciation, amortization, and other adjustments. Adjusted EBITDA is not a measure determined in accordance with generally accepted accounting principles in the United States, commonly known as GAAP, and may not be comparable with the measures as used by other companies. Nevertheless, Columbus McKinnon believes that providing non-GAAP information, such as adjusted EBITDA, is important for investors and other readers of the Company’s financial statements. 22

Industrial Capacity Utilization U.S. Capacity Utilization Eurozone Capacity Utilization Source: The Federal Reserve Board Source: European Commission 85% 80% 83% 81% 75% 79% 77% 70% 75% 70.5% (Manufacturing) & 73% 72.1% 71.5% (Total) Q3 2020 September 2020(1) 71% 65% 69% 67% 60% 65% Manufacturing Total (1)September 2020 numbers are preliminary 23

ISM Production Index Source: Institute of Supply Chain Management 70% 61.0% 65% Sept. 2020 60% 55% 50% 45% 40% 35% 30% 25% 24

Q2 Fiscal Year 2021 Financial Results Conference Call October 29, 2020 25


0-27618						16-0547600
(Commission File Number)						(IRS Employer Identification No.)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value per share	CMCO	NASDAQ Global Select Market


EXHIBIT NUMBER						DESCRIPTION

99.1						Press Release dated October 29, 2020
99.2						Earnings call slides dated October 29, 2020
104						Cover Page Interactive Data File (the cover page XBRL tags are embedded within the Inline XBRL document)


COLUMBUS McKINNON CORPORATION

By:			/s/ Gregory P. Rustowicz
Name:			Gregory P. Rustowicz
Title:			Vice President and Chief
			Financial Officer (Principal Financial Officer)


205 Crosspoint Parkway	Getzville	NY	14068
(Address of principal executive offices)			(Zip Code)


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			If an Emerging Growth Company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.


Item 2.02			RESULTS OF OPERATIONS AND FINANCIAL CONDITION


Item 9.01			FINANCIAL STATEMENTS AND EXHIBITS.