Crane Q3 EPS $0.96, adj $1.03; raises guidance to $4.05-$4.20; acquires Baum for $91M

Crane Co

2023-Q3 EPS reported $3.60 revenue$1,553,500,000

GAAP EPS $0.96; adjusted EPS $1.03; core sales up 9% YoY to $530M.
Adjusted operating profit $81M, up 42% YoY; margins expanded 340bps to 15.2%.
Raised full-year adjusted EPS guidance to $4.05-$4.20 from $3.80-$4.10.
Acquired Baum lined piping GmbH for ~$91M; bolt-on for Process Flow Technologies chemical business.
Declared Q4 dividend of $0.18 per share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Crane Co reported the quarter ended September 30, 2023 results: revenue $530, EPS $0.96. Guidance raised.

Period: the quarter ended September 30, 2023
Revenue: $530
EPS: $0.96
Guidance: raised
Result: reported results

Exact text from the filing

Third quarter 2023 GAAP earnings from continuing operations per diluted share (EPS) was $0.96, and adjusted EPS was $1.03. Third quarter sales increased 10%, with 9% core sales growth and a 1% benefit from favorable foreign exchange. Operating profit from continuing operations of $76 million compared to an operating loss of $117 million last year, with the prior year loss related to the sale of the Company's asbestos liability. Adjusted operating profit from continuing operations of $81 million increased 42% from the prior year. Summary of Third Quarter 2023 Results from Continuing Operations Third Quarter Change (unaudited, dollars in millions) 2023 2022 $ % Net sales $530 $480 $ 50 10 %

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Source: SEC EDGAR

accession 0001628280-23-034914

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