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09.06.25 - 14:33
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Crane Company to Acquire Precision Sensors & Instrumentation from Baker Hughes Company (Business Wire)
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Company (NYSE: CR) (“Crane” or the “Company”), a premier industrial manufacturing and technology company, announced that it has signed an agreement to acquire Precision Sensors & Instrumentation (“PSI”), a leading provider of sensor-based technologies for aerospace, nuclear and process industries, from Baker Hughes (NASDAQ: BKR), an energy technology company, for $1,060 million after adjusting for expected tax benefits with an estimated net present value of approximately $90 million.
PSI is expected to have 2025 sales of approximately $390 million, with adjusted EBITDA of approximately $60 million.
Max H. Mitchell, Chairman of the Board, President and Chief Executive Officer of Crane Company said, “PSI is a unique asset with three iconic brands that are highly complementary to both of our segments.
“Within our Aerospace & Electronics segment, the addition of the Druck brand meaningfully strengthens our pressure sensing capabilities across critical ap...
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28.04.25 - 22:21
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Crane Company Reports First Quarter 2025 Results and Reaffirms Full Year EPS Guidance (Business Wire)
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First Quarter 2025 Highlights
Earnings per diluted share (EPS) from continuing operations of $1.34, up 31%, and adjusted EPS from continuing operations $1.39, up 24%.
Sales of $557.6 million, up 9.3% driven by 7.5% core sales growth.
Core order growth up 15.6% and core backlog growth up 12.1%, driven primarily by ongoing strength at Aerospace & Electronics.
Declaring second quarter 2025 regular dividend of $0.23 per share.
Full Year Outlook
Reaffirming our full year adjusted EPS outlook range of $5.30-$5.60.
STAMFORD, Conn.--(BUSINESS WIRE)--Crane Company ("Crane," NYSE: CR) today announced its financial results for the first quarter of 2025 and reaffirmed its full-year adjusted EPS outlook.
Max Mitchell, Crane's Chairman, President and Chief Executive Officer, stated: "We delivered a very strong start to 2025, with exceptional results in the first quarter of 24.1% adjusted EPS growth driven by 7.5% core sales growth and strong operating leverage. Furthermore, demand trends across our stra...
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01.04.25 - 16:06
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Crane Company Announces Date for First Quarter 2025 Earnings Release and Teleconference (Business Wire)
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Company (NYSE: CR) announces the following schedule and teleconference information for its first quarter 2025 earnings release:
Earnings Release: April 28, 2025 after close of market by public distribution and the Crane Company website at www.craneco.com.
Teleconference: April 29, 2025 at 10:00 AM (Eastern) hosted by Max H. Mitchell, President & CEO, Alex Alcala, Executive Vice President & COO, and Richard A. Maue, Executive Vice President & CFO. The call can be accessed in a listen-only mode via the Company's website www.craneco.com. An accompanying slide presentation will also be available on the Company's website.
Web Replay: Will be available on the Company's website shortly after completion of the live call.
About Crane Company
Crane Company has delivered innovation and technology-led solutions to its customers since its founding in 1855. Today, Crane is a leading manufacturer of highly engineered components for challenging, mission-critical applications foc...
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27.01.25 - 22:21
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Crane Company Reports Fourth Quarter 2024 Results, Initiates Full Year 2025 EPS Guidance, and Raises Annual Dividend by 12% (Business Wire)
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Fourth Quarter 2024 Highlights
Earnings per diluted share (EPS) from continuing operations of $1.20, up 58%, and adjusted EPS from continuing operations of $1.26, also up 58%.
Sales of $544 million, up 12% driven by 8% core sales growth.
Core order growth up 8% and core backlog growth up 9%, driven primarily by ongoing strength at Aerospace & Electronics.
Declaring first quarter 2025 regular dividend of $0.23 per share, and raising the annual dividend by 12% to $0.92 per share.
2025 Outlook
Initiating our full year 2025 adjusted EPS outlook with a range of $5.30-$5.60 reflecting 12% growth at the midpoint compared to 2024 adjusted EPS.
STAMFORD, Conn.--(BUSINESS WIRE)--Crane Company ("Crane," NYSE: CR) today announced its financial results for the fourth quarter of 2024 and initiated its adjusted full-year 2025 EPS outlook. Following the completion of the Engineered Materials divestiture effective on January 1, 2025, results for the fourth quarter of 2024 and all prior periods have been recast w...
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07.01.25 - 16:03
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Crane Company Announces Date for Fourth Quarter 2024 Earnings Release and Teleconference (Business Wire)
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Company (NYSE: CR) announces the following schedule and teleconference information for its fourth quarter 2024 earnings release:
Earnings Release: January 27, 2025 after close of market by public distribution and the Crane Company website at www.craneco.com.
Teleconference: January 28, 2025 at 10:00 AM (Eastern) hosted by Max H. Mitchell, President & CEO, Alex Alcala, Executive Vice President & COO, and Richard A. Maue, Executive Vice President & CFO. The call can be accessed in a listen-only mode via the Company's website www.craneco.com. An accompanying slide presentation will also be available on the Company's website.
Web Replay: Will be available on the Company's website shortly after completion of the live call.
About Crane Company
Crane Company has delivered innovation and technology-led solutions to its customers since its founding in 1855. Today, Crane is a leading manufacturer of highly engineered components for challenging, mission-critical application...
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02.01.25 - 22:36
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Crane Company Announces Close of Engineered Materials Divestiture (Business Wire)
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STAMFORD, Conn.--(BUSINESS WIRE)--Crane Company (NYSE:CR) (“Crane” or the “Company”), a premier industrial manufacturing and technology company, today announced that it has closed on the previously announced divestiture of its Engineered Materials business to KPS Capital Partners, LP (“KPS”).
About Crane Company
Crane Company has delivered innovation and technology-led solutions to its customers since its founding in 1855. Today, Crane is a leading manufacturer of highly engineered components for challenging, mission-critical applications focused on the aerospace, defense, space and process industry end markets. The Company has two strategic growth platforms, Aerospace & Electronics and Process Flow Technologies. Crane has approximately 7,500 employees in the Americas, Europe, the Middle East, Asia and Australia. For more information, visit www.craneco.com.
About KPS Capital Partners
KPS, through its affiliated management entities, is the manager of the KPS Special Situations Funds, a family o...
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