Aerospace & Electronics

- Commercial OE

- Military OE

- Commercial Aftermarket

- Military Aftermarket

Process Flow Technologies

- Process Valves

- Commercial Valves

- Pumps and Systems

Engineered Materials

- FRP Recreational Vehicles

- FRP Building Products

- FRP Transportation

Total Revenue

51faf4f51f1ac058587daa2d72628ed5383b46f669c3deda1d3ace989fc0b8ad

09117d06f64c8bfd217fd4a94a8ef1c5d3483619bb195a742c46e45891dd9022

Cash and cash equivalents (USD, millions)

Accounts receivable, net (USD, millions)

Inventories, net (USD, millions)

Other current assets (USD, millions)

Total current assets (USD, millions)

Property, plant and equipment, net (USD, millions)

Long-term deferred tax assets (USD, millions)

Other assets (USD, millions)

Intangible assets, net (USD, millions)

Goodwill (USD, millions)

Total assets (USD, millions)

Accounts payable (USD, millions)

Accrued liabilities (USD, millions)

U.S. and foreign taxes on income (USD, millions)

Total current liabilities (USD, millions)

Long-term debt, net (USD, millions)

Accrued pension and postretirement benefits (USD, millions)

Long-term deferred tax liability (USD, millions)

Other liabilities (USD, millions)

Total liabilities (USD, millions)

Common shares (USD, millions)

Capital surplus (USD, millions)

Retained earnings (USD, millions)

Accumulated other comprehensive loss (USD, millions)

Total shareholders’ equity (USD, millions)

Noncontrolling interests (USD, millions)

Total equity (USD, millions)

Total liabilities and equity (USD, millions)

419fe124eba58fc3e1633ffde052008c136e322a99b0b6f5f287db2c6d33d647

The sharp drop in cash for Q1 2024 was primarily due to significant outflows from both operating and investing activities. **Operating activities** saw a heavy use of cash, notably a **$162.4 million** increase in operating working capital, which was driven by rising accounts receivable and accrued liabilities. Additionally, **investing activities** contributed substantially, mainly due to the **acquisition of Vian for $102.5 million** and a **$3.1 million final working capital adjustment** related to the Baum acquisition. These outflows combined led to an overall decline of **$110.2 million** in cash during the period.  **[0001628280-24-019638_cr-20240331.htm:4]** **[0001628280-24-019638_cr-20240331.htm:30]** 

Why did cash drop sharply in Q1 2024?

The asset increase in Q3 2024 was driven by several factors. **Acquisitions** played a significant role, with the acquisitions of **CryoWorks** (completed in May 2024 for **$60.7 million**) and **Vian Enterprises** (completed in January 2024 for **$102.5 million**) boosting both **goodwill** and **intangible assets**. Additionally, **inventories** rose, **accounts receivable** increased due to higher sales activity, and **other current assets** saw significant growth (in part due to items like insurance receivables related to Hurricane Helene). There was also a modest increase in **property, plant, and equipment (net)**, reflecting ongoing capital investments.  **[0001628280-24-044560_cr-20240930.htm:3]** **[0001628280-24-044560_cr-20240930.htm:28]** 

What drove the asset increase in Q3 2024?

The elevation in current liabilities during Q3 2024 primarily relates to an increase in short-term borrowings and higher accrued liabilities. Specifically, the company recorded **$85 million** in short-term borrowings under its revolving credit facility in Q3 2024 compared to **$0** at the end of 2023, which was used to fund acquisitions and corporate purposes. Additionally, accrued liabilities rose from **$273.7 million** to **$313.4 million** during this period. These factors, despite being partially offset by a decline in U.S. and foreign income taxes (from **$14.3 million** to **$4.1 million**), collectively resulted in the observed increase in current liabilities.  **[0001628280-24-044560_cr-20240930.htm:3]** **[0001628280-24-044560_cr-20240930.htm:24]** 

Why are current liabilities elevated in Q3 2024?

ff4f9525910497c754f465c9b13cf80e0915fa9ac941a60e60240f97a3baba79

Net sales (USD, millions)

Cost of sales (USD, millions)

Selling, general and administrative (USD, millions)

Operating profit (USD, millions)

Interest income (USD, millions)

Interest expense (USD, millions)

Miscellaneous income (expense), net (USD, millions)

Total other expense, net (USD, millions)

Income from continuing operations before income taxes (USD, millions)

Provision for income taxes (USD, millions)

Net income from continuing operations attributable to common shareholders (USD, millions)

Income from discontinued operations, net of tax (USD, millions)

Net income attributable to common shareholders (USD, millions)

Earnings per basic share from continuing operations (USD)

Earnings per basic share from discontinued operations (USD)

Earnings per basic share (USD)

Earnings per diluted share from continuing operations (USD)

Earnings per diluted share from discontinued operations (USD)

Earnings per diluted share (USD)

20a1f5aa7ff2113832c5a7f5b870b9ac8bc60dc6b6af39fd25adc176306295a6

Crane Co (CR)

Financials