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Diversified manufacturer Precision Castparts Corp. (NYSE: PCP), Portland, OR, reported sales for the fiscal first quarter ended June 29 of $2.5 billion, up 6.8 percent year-over-year. Organic sales increased 4 percent. Profit increased 14.2 percent to $484 million.
“Commercial aerospace activity is and will continue to be the single biggest driver of our growth in fiscal 2015,” said CEO Mark Donegan. “We also saw solid upward shifts in orders from our customers in power markets.”
Investment cast products sales increased by 1 percent in the first quarter to $625 million. Forged products sales were $1.1 billion, up 2.9 percent year-over-year. Airframe products sales increased 18 percent to $807 million.