Crawford United Corporation reported record third‑quarter 2025 earnings, with revenue of $47.2 million, a 28.4% increase year‑over‑year, and operating income of $7.0 million, up 34.0% from the same period last year.
Net income rose to $5.4 million, or $1.52 per diluted share, a 60.4% increase over the $3.4 million reported in Q3 2024. Year‑to‑date revenue reached $137.3 million, up 21.7% from $112.8 million in 2024, while year‑to‑date operating income climbed to $19.3 million, a 28.9% rise from $14.9 million in 2024.
The company’s two operating segments—Commercial Air Handling Equipment and Industrial & Transportation Products—contributed $28.5 million and $18.7 million to revenue, respectively. Recent acquisitions of Rahn Industries in January 2025 and Advanced Industrial Coatings in August 2024 have added $4.2 million in revenue and $0.9 million in operating income to the Industrial & Transportation segment.
Management highlighted that the acquisition‑driven growth strategy and a shift toward higher‑margin Commercial Air Handling products drove the 30.3% gross margin, up from 29.1% in the prior year. The company also cited improved supply‑chain efficiencies and disciplined cost management as key factors behind the margin expansion.
The earnings beat analyst expectations, with reported EPS of $1.52 surpassing the consensus estimate of $0.93 and revenue exceeding the $38.30 million forecast. The company’s strong liquidity, with $27.4 million in revolver availability as of September 30, 2025, supports its ongoing expansion plans.
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