Crane Co. (CR) Tops Q4 EPS by 23c
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Crane Holdings, Co. Reports 2022 Results
January 23, 2023 5:01 PM ESTFourth Quarter 2022 Highlights
Continued progress towards previously announced separation; Remain on-track to complete separation in early April 2023. Fourth quarter GAAP earnings per diluted share (EPS) increased 53% to $1.87 per share compared to 2021; Fourth quarter adjusted EPS increased 63% to a record $2.13 per share compared to 2021. Fourth quarter GAAP operating profit margin was 15.7%, an increase of 440 basis points from last year; adjusted operating margin was a record 18.6% compared to 12.0% last year. Fourth quarter core sales increased 11% compared to last year, core orders increased 15%, and core backlog increased 28%. Crane issues guidance for 2023 for... More