Crane Holdings reports Q3 GAAP loss of $1.06/sh, adjusted EPS $1.86; narrows FY adjusted EPS guidance

Crane NXT, Co.

2022-Q3 EPS reported $5.30 revenue$2,550,800,000

GAAP net loss $1.06 per share includes $2.89/sh after-tax loss on August asbestos divestiture; GAAP EPS guidance lowered to $6.58-$6.72.
Adjusted EPS $1.86 vs $1.98 YoY; adjusted operating margins 17.6%; core sales +2%, core orders +10%.
Full-year 2022 adjusted EPS guidance reaffirmed midpoint, narrowed to $7.58-$7.72 from $7.45-$7.85.
Separation into Crane NXT on track for early April 2023; Aaron W. Saak appointed Crane NXT President and CEO.
Asbestos divestiture completed in August removes all asbestos liabilities from balance sheet.

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