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研究快讯:Crane第一季度盈利超预期;OE销售持续加速增长

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-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下:CR公司第一季度业绩强劲,每股收益(EPS)为1.65美元(同比增长15%),超出市场普遍预期的1.45美元。这一优异表现促使CR将全年调整后每股收益预期从6.55美元至6.75美元上调至6.65美元至6.85美元,中值增长12%。我们认为业绩超预期和预期上调主要归功于近期收购的成功整合以及OEM航空航天设备业务的内生性销售增长。航空航天业务仍然是主要的增长动力,核心销售额增长9.4%至3.18亿美元,这得益于OEM业务16%的增长和积压订单14%的扩张,反映了飞机生产爬坡的良好势头。流程技术业务表现喜忧参半,内生性销售额下降0.6%,但强劲的收购贡献抵消了部分影响,使该业务部门的总销售额达到3.78亿美元。我们对剥离资产后的并购活动感到鼓舞,并相信CR的航空航天扩张将推动盈利进一步增长,尽管我们预计在成本协同效应实现之前,短期内利润率会下降。

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