Welcome to our dedicated page for CRANE COMPANY news (Ticker: CR), a resource for investors and traders seeking the latest updates and insights on CRANE COMPANY stock.
Crane Company (NYSE: CR) generates a steady flow of news as an industrial manufacturing and technology business focused on highly engineered components for mission-critical applications. Its disclosures highlight activity across aerospace, defense, space and process industry end markets, organized through the Aerospace & Electronics and Process Flow Technologies platforms.
News about Crane frequently centers on quarterly earnings results, where the company reports sales, segment performance, margins, orders and backlog, along with updates to its full-year adjusted EPS outlook. These releases often include commentary on demand trends in Aerospace & Electronics and Process Flow Technologies, as well as information about dividends declared by the board of directors.
Another recurring theme in Crane’s news is portfolio evolution and acquisitions. The company has announced transactions such as the agreement to acquire Precision Sensors & Instrumentation (PSI) from Baker Hughes and later the completion of that acquisition, describing PSI as a provider of sensor-based technologies for aerospace, nuclear and process industries. Earlier communications referenced acquisitions including Vian, CryoWorks and Technifab, and the divestiture of the Engineered Materials segment.
Investors following Crane’s news can also expect updates on financing and capital allocation, including the establishment of a senior unsecured credit agreement with a delayed draw term loan and revolving credit facility to support acquisitions like PSI. The company additionally issues notices about upcoming earnings releases and teleconferences, providing schedules and access details for webcasts and slide presentations.
This news page aggregates these types of announcements so readers can review Crane’s earnings reports, strategic transactions, capital structure developments and other material events in one place. Regularly reviewing this feed can help investors and observers understand how Crane’s two strategic platforms are performing and how management is executing its strategy over time.
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.
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.