CRSHIGH SIGNALFINANCIAL10-K

CRS delivered extraordinary revenue growth of 277% alongside strong profitability improvements, indicating either significant organic expansion or major acquisition activity.

The dramatic revenue increase from $572M to $2.2B represents transformational growth that fundamentally changes the company's scale and profile. The fact that net income more than doubled while maintaining strong cash generation suggests this growth is both profitable and sustainable, creating substantial value for shareholders.

Comparing 2025-08-12 vs 2024-08-13View on EDGAR →
FINANCIAL ANALYSIS

CRS experienced exceptional financial performance with revenue surging 277% to $2.2B while net income doubled to $376M, demonstrating the company's ability to scale profitably. Operating cash flow grew 60% to $440M and cash reserves increased 58% to $315M, indicating strong liquidity and cash generation capabilities. The combination of massive revenue growth, improved profitability margins, and robust cash flow generation signals a company undergoing significant positive transformation, whether through organic expansion or successful integration of major acquisitions.

FINANCIAL STATEMENT CHANGES
Revenue
P&L
+277.1%
$572.2M$2.2B

Strong top-line growth of 277.1% — accelerating demand or successful expansion into new markets.

Net Income
P&L
+101.6%
$186.5M$376.0M

Net income grew 101.6% — bottom-line growth signals improving overall business health.

Operating Income
P&L
+61.5%
$323.1M$521.8M

Operating leverage kicking in — revenue growth outpacing cost growth, a hallmark of scaling businesses.

Operating Cash Flow
Cash Flow
+60.2%
$274.9M$440.4M

Operating cash flow surged 60.2% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
+58.5%
$199.1M$315.5M

Cash position surged 58.5% — strong cash generation or capital raise providing significant financial cushion.

Gross Profit
P&L
+31.5%
$584.3M$768.6M

Gross profit expanding — improving pricing power or product mix shift toward higher-margin offerings.

Interest Expense
P&L
+20.5%
$44.9M$54.1M

Interest costs rose 20.5% — monitor debt levels and coverage ratio in rising rate environment.

Stockholders Equity
Balance Sheet
+15.9%
$1.6B$1.9B

Equity base grew 15.9% — retained earnings accumulation or equity issuance strengthening the balance sheet.

Current Assets
Balance Sheet
+10.9%
$1.6B$1.8B

Current assets grew 10.9% — improving short-term liquidity or inventory/receivables build.

LANGUAGE CHANGES
NEW — 2025-08-12
PRIOR — 2024-08-13
ADDED
As of August 8, 2025, 49,850,095 shares of the registrant's common stock were outstanding.
Purchase prices of certain raw materials have historically been volatile, including the impact of tariffs.
(6) Competition: We are leaders in specialty materials for critical applications with over 135 years of metallurgical and manufacturing expertise.
(7) Research, Product and Process Development: Our expenditures for Company-sponsored research and development were $26.1 million, $25.6 million and $24.4 million in fiscal years 2025 , 2024 and 2023 , respectively.
The capital expenditures for environmental control equipment were $1.1 million, $0.7 million and $0.3 million for fiscal years 2025, 2024 and 2023, respectively.
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REMOVED
As of August 9, 2024, 49,947,498 shares of the registrant's common stock were outstanding.
Purchase prices of certain raw materials have historically been volatile.
(6) Backlog: As of June 30, 2024 , we had a sales backlog of orders excluding surcharge, believed to be firm, of approximately $2,256.6 million, significantly all of which is expected to be shipped within fiscal years 2025 and 2026.
Our backlog of orders excluding surcharge as of June 30, 2023, was approximately $2,123.3 million.
(7) Competition: We are leaders in specialty materials for critical applications with over 130 years of metallurgical and manufacturing expertise.
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