**Crawford United Corporation Announces Third Quarter 2024 Financial Results**

Crawford United Corporation, a leading provider of Consumer Self-Care Products, recently released its financial results for the third quarter of 2024. The company reported a decrease in net sales of 3.2% compared to the prior year quarter, reaching $1.1 billion. Organic net sales decreased by 2.4%, predominantly influenced by the loss of distribution of lower margin products in the U.S. Store Brand.

The financial highlights for the third quarter of 2024 are as follows:
– Consumer Self-Care International net sales declined by 1.0%, primarily due to exited businesses and product lines.
– Consumer Self-Care Americas net sales decreased by 4.6%, mainly attributed to lost distribution of lower margin products in the U.S. Store Brand, partially offset by infant formula net sales growth of 3%.
– GAAP gross margin expanded by 60 basis points to 37.2%, while adjusted gross margin increased by 160 basis points to 41.0%.
– GAAP operating income rose to $80 million compared to $62 million in the prior year quarter. Adjusted operating income grew by 21.3% to $182 million.
– Reported diluted loss per share was $(0.13), in contrast to reported diluted earnings per share of $0.11 in the previous year quarter. Adjusted diluted earnings per share increased to $0.81 compared to $0.64 in the prior year quarter.

Crawford United Corporation reaffirmed its fiscal 2024 outlook, expecting its organic net sales and reported net sales to trend towards the lower end of the previously stated ranges. The company anticipates gross and operating margin expansion compared to the prior year and maintained its adjusted diluted EPS outlook at $2.50 to $2.65.

The company remains committed to debt management, with strategic actions taken during the quarter to lower average interest rates. Operational focuses include strengthening the balance sheet, free cash flow generation, infant formula business recovery, and sustainable long-term growth.

These financial results reflect Crawford United Corporation’s dedication to executing strategic initiatives and driving growth amidst changing market dynamics. For a detailed breakdown of the financial results, please refer to the complete 8-K filing on the SEC website or the company’s official press release.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Crawford United’s 8K filing here.

About Crawford United

Crawford United Corporation, together with its subsidiaries, provides specialty industrial products in the United States, Puerto Rico, Mexico, Canada, and internationally. It operates through two segments: Commercial Air Handling Equipment; and Industrial and Transportation Products. The Commercial Air Handling segment designs, manufactures, and installs large-scale commercial, institutional, and industrial custom air handling solutions to health care, education, pharmaceutical, and industrial manufacturing markets under the FactoryBilt and SiteBilt brand names.