Crane reports Q4 EPS $1.53, consensus $1.41

Reports Q4 revenue $581.0M, consensus $572.0M. Max Mitchell, CEO, stated: “We are excited to report another outstanding quarter, highlighted by a 21% increase in adjusted EPS and 5.4% growth in core sales, reflecting our continued emphasis on technical and commercial excellence and operational discipline. Our fourth quarter completed another exceptional year for Crane (CR), including record sales and operating profit at both of our strategic growth segments. Additionally, we built on our strong track record of pursuing strategic acquisitions that strengthen our core businesses and enhance our portfolio by adding advanced technologies and capabilities to better serve and create value for our customers. Having closed successfully on the acquisition of Druck, Panametrics and Reuter-Stokes from Baker Hughes, we are also very excited to announce the acquisition of optek-Danulat based in Essen Germany. Optek-Danulat is the leader in inline process control optical measurement solutions for biopharma, pharmaceutical and other demanding markets, a perfect complement to our growing instrumentation business within the Process Flow Technologies segment. Integration is well underway for all businesses, and we are thrilled to welcome the Druck, Panametrics, Reuter-Stokes and optek-Danulat teams to Crane. To reflect the changes in our portfolio, and as we continue to progress towards our future vision for Crane, our previously named ‘Aerospace & Electronics’ segment will now be referred to as ‘Aerospace & Advanced Technologies.’ This segment will continue to focus on highly differentiated, proprietary, and technology-led solutions, and it will now hold both our existing Aerospace & Electronics business unit as well as the Druck business unit acquired from Baker Hughes. The segment will continue to pursue opportunities to leverage its core technology capabilities in the commercial and military aerospace and space sector, as well as in near-adjacent markets that similarly value our technology and solutions.”