Crane Co. Q1 adjusted EPS $1.81 (+15% YoY); signs deal to divest Crane Supply for CAD 380M

Crane NXT, Co.

2022-Q1 EPS reported $1.81 revenue$801,100,000

GAAP EPS $1.64 vs $1.75 prior year; record adjusted EPS $1.81, up 15% YoY.
Core sales +5%, core orders +12% YoY; completed $300M share repurchase program.
Signed agreement to divest Crane Supply for CAD 380M to streamline Process Flow Technologies.
Updated GAAP EPS guidance to $6.35-$6.75; reiterated adjusted EPS guidance $7.00-$7.40.
Asbestos liability unchanged at $600M; pending claims 30,312; Q1 costs incurred $13.0M.

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