Crane Company reported a significant increase in financial performance for the first quarter of 2025, with net sales reaching $557.6 million, up 9.3% from $510.2 million in the same period last year. The company's operating profit also saw a notable rise, increasing by 24.4% to $101.1 million, compared to $81.3 million in the prior year. Net income attributable to common shareholders surged to $107.1 million, a 65.1% increase from $64.8 million in the first quarter of 2024. This growth was driven by a combination of higher pricing, increased volumes, and contributions from recent acquisitions.
The company experienced a 7.5% increase in core sales, amounting to $38.5 million, primarily attributed to improved pricing strategies. Additionally, sales from the recent acquisitions of CryoWorks and Technifab contributed $12.7 million, while unfavorable foreign currency translation had a negative impact of $3.8 million. Operating costs also increased, with cost of sales rising to $320.0 million, reflecting higher material and labor costs, but was partially offset by productivity gains.
Strategically, Crane Company completed the divestiture of its Engineered Materials segment on January 1, 2025, for approximately $208 million, which resulted in a pre-tax gain of $35.7 million. This segment is now classified as discontinued operations, allowing the company to focus on its core segments: Aerospace & Electronics and Process Flow Technologies. The Aerospace & Electronics segment reported net sales of $248.9 million, a 10.2% increase, while the Process Flow Technologies segment saw sales rise by 8.6% to $308.7 million.
Operationally, Crane Company reported a total backlog of $1.35 billion as of March 31, 2025, indicating strong future demand. The company’s employee headcount remained stable, and it continues to invest in its workforce and operational capabilities. Looking ahead, Crane Company anticipates a year-over-year sales increase of approximately 5% for 2025, driven by core sales growth and contributions from acquisitions, despite facing headwinds from foreign exchange fluctuations. The company expects to improve operating profit through productivity gains and operating leverage on higher volumes.
About Crane Co
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