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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 Holdings, Co. (NYSE: CR) announced the completion of the divestiture of Crane Supply on May 31, 2022. This strategic move is part of Crane's ongoing focus on streamlining its operations and enhancing shareholder value. Crane is a diversified manufacturer with a strong presence across various sectors, including aerospace, defense, and chemical processing. Established in 1855, the company operates globally with approximately 11,500 employees. For more details, visit www.craneco.com.
Crane Holdings, Co. (NYSE: CR) updated its full-year 2022 earnings guidance and reported progress on strategic transactions. The divestiture of Crane Supply is on track to close on May 31, 2022, with an expected cash transaction of CAD 380 million. However, the planned sale of the Engineered Materials segment was terminated due to Justice Department objections. Crane now projects GAAP EPS in the range of $6.80-$7.20, including contributions from Engineered Materials, raising the prior guidance of $6.35-$6.75. Adjusted operating margins are expected at 17.0% with total sales around $3.4 billion.
Crane Co. (NYSE: CR) reported Q1 2022 GAAP EPS of $1.64, down from $1.75 in Q1 2021. Adjusted EPS increased by 15% to $1.81. The company achieved 5% core sales growth and 12% order growth year-over-year. It completed a $300 million share repurchase program and announced the divestiture of Crane Supply for CAD 380 million to streamline operations. Crane also adjusted its GAAP EPS guidance to $6.35-$6.75 while reiterating adjusted EPS guidance of $7.00-$7.40. The leadership expressed confidence in achieving growth through portfolio restructuring and new initiatives.
Crane Co. (NYSE:CR) has declared its quarterly dividend of $0.47 per share for Q2 2022, payable on June 8, 2022. Shareholders of record as of May 31, 2022 will receive this dividend. Founded in 1855, Crane Co. specializes in highly engineered industrial products across various sectors, including aerospace, defense, and chemical processing. The company plans to divest its Engineered Materials segment, but the DOJ has filed a complaint to block this sale. Crane Co. supports approximately 11,000 employees globally.
Crane Co. (NYSE: CR) will release its first quarter 2022 earnings on April 25, 2022, after market close. A teleconference is scheduled for April 26, 2022, at 10:00 AM Eastern Time, hosted by President & CEO Max H. Mitchell and Senior VP & CFO Richard A. Maue. The call will be accessible via Crane's website, accompanied by a slide presentation. Crane Co. operates in various sectors, including aerospace and defense, with approximately 11,000 employees worldwide.
Crane Co. (NYSE: CR) plans to separate into two independent companies within 12 months. The spin-off will create Crane NXT, focusing on Payment and Merchandising Technologies, and retain Crane Co., which will encompass Aerospace & Electronics and Process Flow Technologies. Post-separation, Crane Co. is projected to achieve $1.9 billion in annual sales with an 18.5% Adjusted EBITDA margin, while Crane NXT anticipates $1.4 billion in sales and a 28% EBITDA margin. The goal is to enhance operational focus and unlock shareholder value through tailored capital allocation and growth strategies.
Crane Co. (NYSE: CR) announced that the Department of Justice (DOJ) has filed a complaint to block the sale of its Engineered Materials segment to Grupo Verzatec due to antitrust concerns. The company plans to engage with the DOJ and Verzatec to address these issues. The press release includes forward-looking statements subject to risks and uncertainties, including the impact of the COVID-19 pandemic, economic conditions, regulatory approvals, and potential asbestos claims, which could affect financial performance and shareholder value.
Crane Co. (NYSE:CR) will host its annual investor conference on March 30, 2022, from 8:30 AM to 12:00 PM in New York City. The event will feature presentations from CEO Max H. Mitchell and other executives, available via live webcast and replay on the company's website. Crane Co. is a diversified manufacturer serving various sectors, including chemicals and aerospace, with approximately 11,000 employees globally. The company is in the process of divesting its Engineered Materials segment, awaiting regulatory approval.
Crane Co. (NYSE: CR) reported impressive full-year 2021 results, with GAAP earnings per diluted share (EPS) of $6.66, compared to $2.77 in 2020. Key highlights include a record operating margin of 15.8% and free cash flow of $415 million. Core sales grew by 12%, while order growth reached 19%. For 2022, Crane Co. projects GAAP EPS between $6.85 and $7.25, indicating a 10% increase. The company also announced a 9% dividend increase to $0.47 per share and plans to repurchase up to $200 million in shares, reflecting a robust financial outlook.
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