Q2 2024 Summary
Published Feb 18, 2025, 5:24 PM UTCInitial Price$135.45April 1, 2024
Final Price$143.03July 1, 2024
Price Change$7.58
% Change+5.60%
- Crane has had four consecutive quarters of positive order activity, primarily in project businesses in North America and China, especially in chemicals and pharmaceuticals, setting up nicely for the second half of 2024 and into 2025.
- The company has a very active M&A pipeline with numerous opportunities, and is confident in executing deals that meet their strategic and financial goals, potentially driving future growth.
- Over 60% of Crane's revenue comes from its five focus areas (chemical, water & wastewater, pharma, industrial, and hydrogen), which have above-average margins and are experiencing strong momentum, contributing significantly to growth and profitability.
- Continued weakness in the European chemicals market, with both projects and MRO being quite slow, could negatively impact Crane's Process Flow Technologies segment.
- Increased competition in the M&A market and upward pressure on acquisition multiples may make it more challenging for Crane to execute its acquisition strategy effectively, potentially impacting future growth opportunities.
- Persistent softness in European chemical and general industrial markets may weigh on Crane's performance in those regions, potentially offsetting gains elsewhere.