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Crawford United Stock Rises as Q3 Earnings & Revenues Hit Record Highs
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Shares of Crawford United Corporation (CRAWA - Free Report) have gained 10.6% since the company reported its earnings for the quarter ended Sept. 30, 2025. This compares to the S&P 500 Index’s 1.8% loss over the same time frame. Over the past month, the stock gained 9.1% compared with the S&P 500’s 0.2% growth.
CRAWA’s Earnings Snapshot
Crawford United posted a robust third-quarter 2025 performance, marking new record highs in sales, net income and earnings per share. Quarterly sales reached $47.2 million, up 28.4% from $36.7 million a year earlier, while net income surged 60.4% to $5.4 million or $1.52 per diluted share, from $3.4 million or $0.95 in the prior-year quarter. Operating income rose 33.9% to $7 million from $5.3 million, and EBITDA increased 34.3% to $9.1 million from $6.8 million.
In the year-to-date period, revenues grew 21.7% to $137.3 million from $112.8 million, and earnings per share (EPS) climbed 41.2% to $3.84 from $2.72.
Segmentally, the Commercial Air Handling Equipment unit posted sales of $21.8 million, up 36.9% from $15.9 million, and the Industrial and Transportation Products segment delivered $25.4 million, a 21.9% improvement over the prior year’s $20.8 million.
Crawford United’s Other Key Business Metrics
CRAWA’s gross profit for the quarter expanded 33.7% to $14.3 million from $10.7 million, reflecting a gross margin of 30.3%, up from 29.1% last year. Cost of sales rose 26.2% to $32.9 million from $26 million, largely consistent with higher volumes and recent acquisitions. Selling, general and administrative expenses increased 33.5% to $7.2 million from $5.4 million, primarily due to integration costs and strategic investments in workforce expansion.
By segment, the Commercial Air Handling Equipment business benefited from the January 2025 acquisition of Rahn Industries Incorporated, contributing about $5.9 million in additional revenues. Excluding Rahn, sales were relatively stable year over year. Segment operating profit rose 22.9% to $6.1 million from $4.9 million. This segment’s operating margin in third-quarter 2025 was 27.9% compared with 31% in the year-ago period.
Meanwhile, the Industrial and Transportation Products segment added $4.6 million in new revenues, helped by organic growth from CAD Enterprises and Reverso Pumps, alongside one month of contribution from Advanced Industrial Coatings (AIC). Segment operating profit rose 71.6% to $2.6 million from $1.5 million. This segment’s operating margin in third-quarter 2025 widened to 10.1% from 7.2% in the year-ago period.
Crawford United Corporation Price, Consensus and EPS Surprise
President and CEO Brian Powers described the quarter as a milestone period, stating that sales, net income and EPS all reached record highs. Powers emphasized Crawford United’s ongoing success with its business model and reiterated confidence in achieving long-term strategic goals, stressing a continued commitment to accretive acquisitions and margin expansion.
Management indicated that the strong performance was driven by operational efficiency, a favorable shift in sales mix toward higher-margin air-handling products, and early contributions from Rahn and AIC. Additionally, a lower effective tax rate (18.6% vs. 28.4%), primarily due to R&D credits and energy-efficient building deductions, further supported bottom-line growth.
CRAWA’s double-digit top-line growth was primarily attributed to acquisitions completed over the past two years, particularly Rahn Industries and AIC, which jointly contributed $5.8 million in quarterly revenue. Organic growth also played a role, led by CAD Enterprises’ improved order volume and pricing and Reverso Pumps’ strong demand from the emergency vehicle sector.
Gross margin improvement stemmed from higher production volumes and efficiencies, as well as a larger share of sales from the Commercial Air Handling segment, which typically commands superior profitability.
Interest expenses declined 13.4% to $0.2 million from $0.3 million as average debt levels normalized post-acquisition. Crawford United ended the quarter with $1.9 million in cash and $27.4 million of borrowing availability under its $30 million revolving credit facility, suggesting ample liquidity for future growth initiatives.
CRAWA’s Guidance
While Crawford United did not issue formal financial guidance for the remainder of 2025, management reaffirmed confidence in sustaining revenue and earnings growth trends. The company noted that integration of recent acquisitions has proceeded as planned, and that it remains focused on identifying new acquisition targets that complement its core industrial and air-handling operations. Management also reiterated its expectation of maintaining strong operating cash flows sufficient to fund ongoing expansion and debt obligations.
Crawford United’s Other Developments
During the first quarter of 2025, Crawford United acquired Rahn Industries, a California-based HVAC coil manufacturer serving healthcare, industrial and defense markets, for approximately $12.7 million in cash. The deal added $15.2 million in sales and nearly $1.9 million in net income year-to-date.
Earlier, in August 2024, the company acquired Advanced Industrial Coatings LLC, expanding its presence in aerospace and semiconductor coatings. No new share repurchases were made in the third quarter under its 300,000-share authorization announced in December 2023.
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Crawford United Stock Rises as Q3 Earnings & Revenues Hit Record Highs
Shares of Crawford United Corporation (CRAWA - Free Report) have gained 10.6% since the company reported its earnings for the quarter ended Sept. 30, 2025. This compares to the S&P 500 Index’s 1.8% loss over the same time frame. Over the past month, the stock gained 9.1% compared with the S&P 500’s 0.2% growth.
CRAWA’s Earnings Snapshot
Crawford United posted a robust third-quarter 2025 performance, marking new record highs in sales, net income and earnings per share. Quarterly sales reached $47.2 million, up 28.4% from $36.7 million a year earlier, while net income surged 60.4% to $5.4 million or $1.52 per diluted share, from $3.4 million or $0.95 in the prior-year quarter. Operating income rose 33.9% to $7 million from $5.3 million, and EBITDA increased 34.3% to $9.1 million from $6.8 million.
In the year-to-date period, revenues grew 21.7% to $137.3 million from $112.8 million, and earnings per share (EPS) climbed 41.2% to $3.84 from $2.72.
Segmentally, the Commercial Air Handling Equipment unit posted sales of $21.8 million, up 36.9% from $15.9 million, and the Industrial and Transportation Products segment delivered $25.4 million, a 21.9% improvement over the prior year’s $20.8 million.
Crawford United’s Other Key Business Metrics
CRAWA’s gross profit for the quarter expanded 33.7% to $14.3 million from $10.7 million, reflecting a gross margin of 30.3%, up from 29.1% last year. Cost of sales rose 26.2% to $32.9 million from $26 million, largely consistent with higher volumes and recent acquisitions. Selling, general and administrative expenses increased 33.5% to $7.2 million from $5.4 million, primarily due to integration costs and strategic investments in workforce expansion.
By segment, the Commercial Air Handling Equipment business benefited from the January 2025 acquisition of Rahn Industries Incorporated, contributing about $5.9 million in additional revenues. Excluding Rahn, sales were relatively stable year over year. Segment operating profit rose 22.9% to $6.1 million from $4.9 million. This segment’s operating margin in third-quarter 2025 was 27.9% compared with 31% in the year-ago period.
Meanwhile, the Industrial and Transportation Products segment added $4.6 million in new revenues, helped by organic growth from CAD Enterprises and Reverso Pumps, alongside one month of contribution from Advanced Industrial Coatings (AIC). Segment operating profit rose 71.6% to $2.6 million from $1.5 million. This segment’s operating margin in third-quarter 2025 widened to 10.1% from 7.2% in the year-ago period.
Crawford United Corporation Price, Consensus and EPS Surprise
Crawford United Corporation price-consensus-eps-surprise-chart | Crawford United Corporation Quote
CRAWA’s Management Commentary
President and CEO Brian Powers described the quarter as a milestone period, stating that sales, net income and EPS all reached record highs. Powers emphasized Crawford United’s ongoing success with its business model and reiterated confidence in achieving long-term strategic goals, stressing a continued commitment to accretive acquisitions and margin expansion.
Management indicated that the strong performance was driven by operational efficiency, a favorable shift in sales mix toward higher-margin air-handling products, and early contributions from Rahn and AIC. Additionally, a lower effective tax rate (18.6% vs. 28.4%), primarily due to R&D credits and energy-efficient building deductions, further supported bottom-line growth.
Factors Influencing Crawford United’s Headline Numbers
CRAWA’s double-digit top-line growth was primarily attributed to acquisitions completed over the past two years, particularly Rahn Industries and AIC, which jointly contributed $5.8 million in quarterly revenue. Organic growth also played a role, led by CAD Enterprises’ improved order volume and pricing and Reverso Pumps’ strong demand from the emergency vehicle sector.
Gross margin improvement stemmed from higher production volumes and efficiencies, as well as a larger share of sales from the Commercial Air Handling segment, which typically commands superior profitability.
Interest expenses declined 13.4% to $0.2 million from $0.3 million as average debt levels normalized post-acquisition. Crawford United ended the quarter with $1.9 million in cash and $27.4 million of borrowing availability under its $30 million revolving credit facility, suggesting ample liquidity for future growth initiatives.
CRAWA’s Guidance
While Crawford United did not issue formal financial guidance for the remainder of 2025, management reaffirmed confidence in sustaining revenue and earnings growth trends. The company noted that integration of recent acquisitions has proceeded as planned, and that it remains focused on identifying new acquisition targets that complement its core industrial and air-handling operations. Management also reiterated its expectation of maintaining strong operating cash flows sufficient to fund ongoing expansion and debt obligations.
Crawford United’s Other Developments
During the first quarter of 2025, Crawford United acquired Rahn Industries, a California-based HVAC coil manufacturer serving healthcare, industrial and defense markets, for approximately $12.7 million in cash. The deal added $15.2 million in sales and nearly $1.9 million in net income year-to-date.
Earlier, in August 2024, the company acquired Advanced Industrial Coatings LLC, expanding its presence in aerospace and semiconductor coatings. No new share repurchases were made in the third quarter under its 300,000-share authorization announced in December 2023.