Crane Holdings Co.

NYSE:CR  
88.20
+0.64 (+0.73%)
Divestitures / Spin-offs, Other Pre-Announcement

Crane Holdings Provides Updates Full-Year 2022 Earnings Guidance

Published: 05/26/2022 23:46 GMT
Crane Holdings Co. (CR) - Crane Holdings, Co. Provides Update on Previously Announced Divestitures and Updates Full-year 2022 Earnings Guidance.
Sees FY Earnings per Share $7.45 to $7.85 Excluding Items.
Sees FY Sales About $3.4 Billion.
Recently Announced Divestiture of Crane Supply is On-track to Close at End of This Month.
Planned Separation Into Two Independent, Public Companies is Proceeding According to Our Original Schedule.
Crane - After Objections From Doj Over Minor Overlap in Small Segment of Engineered Materials Business, Agreement to Sell That Business Been Terminated.
Will Continue to Assess Our Portfolio Composition and Structure.
Will Continue to Explore Alternatives for Outstanding Engineered Materials Business in Due Course.
Operational Outlook is Unchanged From Our April Q1 Earnings Call.
Crane Holdings - Raising 2022 EPS Guidance to Now Include Engineered Materials Business Which Must Be Removed From Discontinued Operations.
Doj Rejected Initial Set of Remedies Proposed in Relation to Engineered Materials Divestiture.
On May 26, 2022, Grupo Verzatec Sa De Cv Terminated Sale Agreement, and Will Pay a $7.5 Million Termination Fee to Crane.
Engineered Materials Will Be Included in Continuing Operations Starting in Q2 of 2022 With Prior Periods Restated Accordingly.
Crane Holdings - Revised FY 2022 GAAP EPS Guidance is Range of $6.80-$7.20 Which Now Includes About $0.45 EPS Contribution From Engineered Materials.