Precision Castparts posts double-digit growth as aerospace investment casting rebounds
Parent Berkshire Hathaway highlighted PCC in its latest shareholder letter, noting the unit now ships more titanium structural castings than at any point since 2019.
Precision Castparts booked double-digit revenue growth in the first quarter, according to commentary in Berkshire Hathaway's shareholder letter. The gain was driven almost entirely by aerospace investment castings, where PCC has spent two years reinvesting in its Oregon and South Carolina facilities.
Chairman Warren Buffett singled out the business as an example of a hard manufacturing asset whose value gets under-appreciated during soft cycles. PCC is now shipping more titanium structural castings than at any point since 2019, with Boeing and Airbus both pulling forward orders.
Management confirmed a fresh $380 million capital plan for the Wyman-Gordon forging sites that will add two new isothermal presses over the next three years. The new capacity is targeted almost exclusively at nickel superalloy aerospace forgings.
Written by
Dana Whitfield
Aerospace and defense supply chain reporter. Previously at Aviation Week Network.
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