Crawford United Stock Price, News & Analysis

Crawford United Corporation (OTC: CRAWA) has acquired the assets of Knitting Machinery Corporation of America (KMC), a Cleveland-based manufacturer of hose reinforcement machinery. This strategic move aims to expand Crawford's footprint in the industrial hose market. The acquisition is projected to generate less than $2 million in annual revenue and is expected to boost earnings immediately. Brian Powers, CEO of Crawford United, emphasized the importance of this acquisition in diversifying the company's customer base in a growing market segment.

Crawford United Corporation (OTC: CRAWA) reported a 37% increase in quarterly sales, reaching $27.3 million for Q4 2021, up from $19.9 million last year. Annual sales also rose 22% to $104.2 million from $85.1 million. However, net income for Q4 dropped to $0.1 million or $0.02 per share, down from $2.1 million or $0.63 per share last year, due to $1.0 million in year-end audit adjustments. Full-year net income slightly decreased to $5.7 million or $1.66 per share. The growth was attributed to acquisitions and an upturn in customer demand.

Crawford United Corporation (OTC: CRAWA) announced the acquisition of Reverso Pumps and Separ Filter of the Americas, effective January 10, 2022. These companies, based in Davie, Florida, specialize in oil change systems and diesel fuel filtration products for marine and defense applications. The acquisition is projected to generate approximately $5 million in annualized revenue and will be immediately accretive to earnings. CEO Brian Powers emphasized the strategic importance of these acquisitions in expanding their presence in the marine and defense markets.

Crawford United Corporation (OTC: CRAWA) reported strong financial results for Q3 and the first nine months of 2021. Q3 sales rose 23.9% to $26.4 million, while net income was $1.2 million, lower than $1.4 million the previous year. For the nine-month period, sales increased 17.9% to $76.8 million, with net income up 49% to $5.6 million. Notably, a $1.5 million debt forgiveness under the CARES Act contributed positively. Challenges included a loss of $0.3 million on equity investments and margins affected by labor and supply chain issues. The company focuses on growth through acquisitions and increasing revenue.

Crawford United Corporation (OTC: CRAWA) reported robust financial results for Q2 2021, with revenue reaching $26.4 million, a 42% increase year-over-year. Operating income surged to $2.1 million, marking a 299% rise, while net income rose 445% to $1.2 million ($0.37 per share). For the first half of the year, sales increased 15% to $50.4 million, with net income growing 90% to $4.4 million ($1.29 per share). The growth is attributed to recent acquisitions and recovering customer demand following the pandemic, alongside a $1.5 million debt forgiveness under the CARES Act.

Crawford United Corporation (OTC: CRAWA) announced the acquisition of Emergency Hydraulics LLC, enhancing its industrial hose platform. This strategic purchase, located in Ocala, Florida, aims to diversify the customer base and expand product offerings, particularly for manufacturers of emergency vehicles. The acquisition is projected to generate approximately $2 million in annual revenue and provide immediate earnings accretion. This move underscores Crawford's commitment to growth in the industrial sector.

Crawford United Corporation (OTC: CRAWA) reported Q1 2021 revenues of $24.0 million, down from $25.3 million year-over-year. Operating income decreased to $2.3 million from $3.1 million, attributed to the impact of the pandemic on customer demand. However, net income rose to $3.1 million or $0.93 per diluted share, boosted by a $1.5 million loan forgiveness under the CARES Act. The company completed the acquisitions of Komtek Forge and Global-Tek Manufacturing, which are expected to enhance sales and earnings moving forward.

Crawford United Corporation (OTC: CRAWA) reported its financial results for the three and twelve months ending December 31, 2020. Quarterly sales were $19.9 million, down from $21.1 million last year, with operating income decreasing by 35% to $1.7 million. However, net income rose by 22% to $2.1 million. For the year, sales decreased by 5% to $85.1 million, and operating income also fell to $7.5 million. The declines were attributed to COVID-19, but the company remains optimistic about recovery and expects recent acquisitions to add $15 million in annual revenue.

Crawford United Corporation (OTC: CRAWA) announced the acquisition of Global-Tek Manufacturing in Puerto Rico and Machining Technology in Colorado, effective March 1, 2021. These companies specialize in providing engineered manufacturing solutions, including CNC machining and die casting, primarily in the defense, aerospace, and medical device sectors. The acquisition is expected to enhance Crawford's market presence and diversify its customer base, contributing an estimated $8 million in annualized revenue and being immediately accretive to earnings.