The Recreation Vehicle Industry Association commissioned an Economic Impact Study on the RV industry, released on June 7, 2016. The study found that the RV industry contributes about $49.7 billion in economic output or 0.28 percent of the Gross Domestic Product. Through its production and distribution linkages, the industry impacts firms in 426 of the 440 sectors of the United States economy.
Nationwide, the industry is responsible for 216,170 jobs, both directly and inderectly, creating an economic impact of $37.5 billion. The full study results, along with each individual state and congressional district's economic impact is available on the website by clicking here .
Wed Oct 26, 2016
STAMFORD, Connecticut - Crane Co., a diversified manufacturer of highly engineered industrial products, reported third quarter 2016 GAAP earnings of $1.07 per diluted share, compared to $0.97 per share in the third quarter of 2015. Excluding Special Items, third quarter 2015 earnings per diluted share were $1.03.
Third quarter 2016 sales were $694 million, an increase of 4 percent compared to $670 million in the third quarter of 2015. Core sales increased $37 million, or 5.5 percent, partially offset by a $12 million, or 2 percent impact from unfavorable foreign exchange.
Operating profit in the third quarter was $104 million, up 11 percent compared to $93 million in the third quarter of 2015. Excluding Special Items, operating profit was $97 million in the third quarter of 2015.
The effective tax rate in the third quarter was 33 percent compared to 32.3 percent last year. Excluding Special Items, the effective tax rate in the third quarter of 2015 was 31.6 percent.
“We delivered another strong quarter, with solid execution across all segments," Crane Co. President and CEO Max Mitchell says. "We were particularly pleased with our growth and margin performance at Payment & Merchandising Technologies, with solid end market demand and progress on productivity supporting continued momentum into 2017. In addition, our teams across Fluid Handling continued to execute well, with another solid margin performance despite continuing end market challenges. Order activity remains generally stable in Fluid Handling, and although we continue to believe that demand is at a trough, we will exit the year with a lower backlog compared to when we entered 2016.
"Our Aerospace & Electronics team had an exceptionally strong performance executing on shipments for the Space Fence program in the quarter, though dilutive to margins; we will have lower shipments in the fourth quarter as we close out the program. Overall, we are pleased with our performance year to date and our prospects looking ahead, and we are raising the midpoints of our full-year adjusted EPS guidance by $0.06 and our free cash flow guidance by $5 million."