Crane terminates Engineered Materials sale, completes Crane Supply, raises FY22 guidance

Crane NXT, Co.

Crane Supply divestiture closed May 31 for CAD 380M cash-free, debt-free basis.
Engineered Materials sale terminated after DOJ antitrust objection; $7.5M termination fee received.
Engineered Materials returns to continuing ops; GAAP EPS guidance raised to $6.80-$7.20 (incl. ~$0.45 from EM).
Adjusted EPS guidance raised to $7.45-$7.85 from $7.00-$7.40.
Separation into two independent companies remains on track for early 2023.

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