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) 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
Crane Holdings, Co. (NYSE: CR) reported a strong second quarter 2022, with GAAP earnings per share (EPS) of $4.93, including a $3.58 gain from the sale of Crane Supply. Core sales growth was 7%, while order growth reached 14%. The company raised its GAAP EPS guidance for the year to $9.80-$10.20, reflecting this gain. Adjusted operating margins were 17.3%, despite challenges from higher costs and lower volumes. The outlook remains positive, with solid demand across end markets, and a separation planned for early 2023 to enhance growth and shareholder value.
Crane Holdings, Co. has announced a quarterly dividend of
Crane Holdings, Co. (NYSE: CR) has scheduled its second quarter 2022 earnings release for July 25, 2022, after market close. The earnings report will be accessible on the company's website. A teleconference is set for July 26, 2022, at 10:00 AM (Eastern), hosted by President & CEO Max H. Mitchell and Senior VP & CFO Richard A. Maue. A web replay will be available post-call. Crane Holdings is a diversified manufacturer with a significant global presence, serving multiple industries including aerospace, defense, and payment automation.
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.