Q1 2024 Summary
Published Feb 18, 2025, 5:22 PM UTCInitial Price$116.87January 1, 2024
Final Price$134.98April 1, 2024
Price Change$18.11
% Change+15.50%
- Strong demand in the Aerospace & Electronics segment, with military aftermarket expected to have double-digit growth. The company continues to capitalize on pricing opportunities, with approximately one-third of core growth coming from price increases , contributing to robust revenue growth.
- Process Flow Technologies segment experiencing stronger than anticipated demand, particularly in North America and China, partially due to reshoring and localization projects. The company has revised guidance upwards and feels more bullish about this segment's prospects.
- Successful project wins exceeding expectations, especially in the Aerospace & Electronics segment where the company has won all available AESA platform bids, suggesting potential upside to long-term growth targets.
- Global uncertainties, including a highly charged political environment, wars, unknown inflationary environment, and Fed actions, pose potential risks to the company's outlook. This could affect demand and operational performance.
- Tougher year-over-year comparisons in the second half of 2024 may lead to more muted growth rates in the Aerospace & Electronics aftermarket sales. The company acknowledges that the comparisons in the second half are more challenging, which could impact growth.
- Reduction in growth outlook by key customers, such as GE dialing back the growth outlook for the LEAP engine from 20%-25% to 10%-15%, may impact Crane's Aerospace & Electronics business in the future, which could affect their earnings.