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Crane Company (NYSE: CR) is a diversified industrial firm that has been a leader in engineering and manufacturing since its establishment in 1855. The company operates through three main segments: aerospace and electronics, process flow technologies, and engineered materials. Each segment plays a critical role in addressing the needs of various industries, ranging from aerospace to chemical processing.
In the aerospace and electronics segment, Crane specializes in producing high-performance components essential for aviation and defense systems. From valves and actuators to sophisticated control systems, Crane's innovations ensure reliability and efficiency in some of the most demanding environments.
The process flow technologies segment is anchored by Crane ChemPharma & Energy, which recently announced a partnership with Total Valve Systems to distribute and provide authorized service for a range of valve products. These products include well-known brands such as Aloyco®, Xomox®, Pacific Valves®, and Saunders®, among others. This segment focuses on designing and manufacturing high-performance valves, pipes, actuation systems, and fittings, serving industries like biotechnology, pharmaceutical, oil and gas, and power generation.
In the engineered materials segment, Crane produces fiberglass-reinforced plastic panels and other advanced materials that meet the precise requirements of modern engineering projects. These materials are integral to a variety of applications, offering strength, durability, and lightweight properties.
Financially, Crane generated approximately $2.1 billion in revenue in 2023, underscoring its robust market presence and operational efficiency. The company's continuous innovation and strategic partnerships have cemented its reputation as a trusted provider of high-quality industrial products.
To stay updated with Crane's latest developments, partnerships, and financial performance, visit their official website or consult financial news platforms for the most recent updates.
Crane Company (NYSE: CR) announced that the SEC has approved its Form 10 registration statement for the upcoming business separation set for April 3, 2023. This strategic move will divide Crane into two independent companies: Crane NXT, focusing on Industrial Technology with projected sales of $1.4 billion and a 30% EBITDA margin, and Crane Company, expected to generate $2 billion in sales with a 19.5% EBITDA margin. Both companies aim to enhance investment focus and operational efficiency. Investor conferences will be held on March 9, 2023, in New York City to discuss the separation and future strategies.
Crane Holdings, Co. (NYSE: CR) reported strong fourth quarter 2022 results, with GAAP EPS rising 53% to $1.87 and adjusted EPS surging 63% to a record $2.13. The company achieved a GAAP operating profit margin of 15.7%, up 440 basis points year-over-year, while adjusted operating margin reached 18.6%. Core sales rose 11%, with core orders increasing 15% and core backlog growing 28%. Despite these positive metrics, Crane anticipates mixed activity in 2023 due to macroeconomic uncertainties. The company will separate into Crane Company and Crane NXT by April 2023, aiming to enhance investments and accelerate growth.
Crane Holdings, Co. (NYSE:CR) has announced a regular quarterly dividend of $0.47 per share for Q1 2023. The dividend is set to be paid on March 8, 2023, to shareholders recorded by the close of business on February 28, 2023. Established in 1855, Crane is a diversified manufacturer of engineered industrial products, serving various sectors such as aerospace, defense, and chemical processing, among others. The company operates across four segments and employs approximately 11,000 staff globally.
Crane Holdings, Co. (NYSE: CR) has scheduled its fourth quarter 2022 earnings release for January 23, 2023, after market close. The earnings report will be publicly accessible through their website. A teleconference will follow on January 24, 2023, at 10:00 AM Eastern, hosted by CEO Max H. Mitchell and CFO Richard A. Maue. A web replay will be accessible shortly after the live call concludes. Crane Holdings is a diversified manufacturer with a global workforce of approximately 11,000 employees, providing engineered products across various sectors.
Crane Holdings, Co. (NYSE: CR) announced the filing of a Form 10 Registration Statement with the SEC to facilitate a planned separation into two publicly traded companies: Crane Company and Crane NXT. The separation is on track for completion on April 3, 2023, aiming to optimize investments and accelerate growth. Crane Company expects approximately $1.9 billion in sales with an 18.5% EBITDA margin, while Crane NXT anticipates $1.4 billion in sales and a 30% EBITDA margin. Shareholders will own both post-separation companies, with Crane NXT's shares expected to trade under the symbol CXT.
Crane Holdings (NYSE:CR) reported a GAAP net loss of $1.06 per share for Q3 2022, impacted by a $2.89 per share loss from asbestos-related divestitures. Adjusted EPS decreased to $1.86 from $1.98 year-over-year. Total sales fell 9% to $815 million, with core sales growth of 2% overshadowed by divestiture impacts. The company reaffirmed 2022 adjusted EPS guidance at $7.58-$7.72. Despite challenges, including supply chain constraints, Crane reported strong order and backlog growth, indicating potential for future revenue acceleration.
Crane Holdings, Co. (NYSE: CR) announced the upcoming separation of its business into two independent publicly traded companies, anticipated to be completed in early April 2023. Following this separation, Crane NXT will focus on Industrial Technology, projected to achieve $1.4 billion in sales with a 30% Adjusted EBITDA margin. Aaron W. Saak has been appointed as President and CEO of Crane NXT. Additionally, Crane Company will continue as a global provider of engineered products, expected to generate $1.9 billion in annual sales with an 18.5% EBITDA margin.
Crane Holdings, Co. (NYSE: CR) announced the schedule for its Q3 2022 earnings release, set for October 24, 2022, after market close. The teleconference will occur on October 25, 2022, at 10:00 AM Eastern, featuring President & CEO Max H. Mitchell and CFO Richard A. Maue. Investors can access the call via the company’s website, where a slide presentation will also be available. Crane, a diversified manufacturer with a history dating back to 1855, operates in various industrial sectors with approximately 11,000 employees globally.
Crane Holdings, Co. (NYSE:CR) declared a quarterly dividend of $0.47 per share for Q4 2022. This dividend will be paid on December 14, 2022, to shareholders on record by the close of business on November 30, 2022. Crane, a diversified manufacturer since 1855, operates in sectors including aerospace and defense, with approximately 11,000 employees globally. The company focuses on engineered industrial products across four segments: Aerospace & Electronics, Process Flow Technologies, Payment & Merchandising Technologies, and Engineered Materials.
Crane Holdings, Co. (NYSE: CR) has announced the divestiture of its subsidiary Redco Corporation, which holds all asbestos liabilities and related insurance assets, to Spruce Lake Liability Management. Crane has contributed approximately