Thu, Feb 27, 9:52 PM (17 days ago)
Crane Company (NYSE: CR) reported strong financial performance for the fiscal year ending December 31, 2024, with total net sales of $2,131.2 million, a 14.5% increase from 2023. The Aerospace & Electronics segment contributed $932.7 million in sales, up 18.2%, while Process Flow Technologies generated $1,198.5 million, an 11.7% increase. Operating profit surged 42.1% to $355.8 million, driven by productivity gains and higher pricing. Net income attributable to common shareholders reached $294.7 million, with earnings per diluted share at $5.05. The company completed several strategic acquisitions, including Technifab, CryoWorks, and Vian, enhancing its market position. Additionally, Crane divested its Engineered Materials segment for approximately $208 million, reclassifying it as a discontinued operation. The firm faces ongoing risks, including supply chain disruptions, macroeconomic fluctuations, and compliance with government contracts. Looking ahead, Crane anticipates a 5% sales increase in 2025, driven by core growth and acquisitions, albeit tempered by foreign exchange headwinds. The company remains committed to operational efficiency and shareholder value.