CRANE COMPANY Stock Price, News & Analysis

Crane Holdings, Co. (NYSE: CR) announced a separation into two publicly traded companies, with a tax-free distribution of its Aerospace & Electronics, Process Flow Technologies, and Engineered Materials sectors to shareholders. The spin-off will occur on April 3, 2023, where shareholders on record as of March 23, 2023, will receive shares of the new Crane Company, retaining their Crane Holdings shares, which will be renamed Crane NXT, Co. Trading under the current ticker 'CR' continues until the distribution date, followed by a transition to 'CXT' for Crane NXT, Co. This strategic move aims to enhance shareholder value and operational focus.

Crane Holdings, Co. (NYSE: CR) announced that Crane NXT will become an independent company on April 3, 2023, following a separation transaction. Christina Cristiano has been appointed as the Senior VP and CFO of Crane NXT. She brings extensive financial expertise, having previously held significant roles within Crane and at Thomson Reuters. The leadership team, guided by Aaron W. Saak, aims to maximize growth across security, detection, and authentication markets. An upcoming investor conference is scheduled for March 9, 2023, in New York City, where business strategy and capital plans will be discussed.

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.