Core Insights - Crawford United Corporation (CRAWA) reported a strong third-quarter performance for 2025, achieving record highs in sales, net income, and earnings per share (EPS) [2][10] Financial Performance - Quarterly sales reached $47.2 million, a 28.4% increase from $36.7 million a year earlier [2] - Net income surged 60.4% to $5.4 million, or $1.52 per diluted share, compared to $3.4 million, or $0.95 in the prior-year quarter [2] - Year-to-date revenues grew 21.7% to $137.3 million from $112.8 million, with EPS climbing 41.2% to $3.84 from $2.72 [3] Segment Performance - The Commercial Air Handling Equipment unit posted sales of $21.8 million, up 36.9% from $15.9 million [3] - The Industrial and Transportation Products segment delivered $25.4 million, a 21.9% improvement over the prior year's $20.8 million [3] Profitability Metrics - Gross profit for the quarter expanded 33.7% to $14.3 million, reflecting a gross margin of 30.3%, up from 29.1% last year [4] - 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 [2][4] Acquisitions and Growth Drivers - The Commercial Air Handling Equipment business benefited from the January 2025 acquisition of Rahn Industries, contributing about $5.9 million in additional revenues [5] - The Industrial and Transportation Products segment added $4.6 million in new revenues, aided by organic growth from CAD Enterprises and Reverso Pumps [6] Management Commentary - President and CEO Brian Powers described the quarter as a milestone period, emphasizing ongoing success with the business model and confidence in achieving long-term strategic goals [10] - Management indicated that strong performance was driven by operational efficiency and a favorable sales mix toward higher-margin products [11] Future Outlook - While no formal financial guidance was issued for the remainder of 2025, management expressed confidence in sustaining revenue and earnings growth trends [15] - The company remains focused on identifying new acquisition targets that complement its core operations [15]