NYSE$CR
Crane Co · Q1 2023 earnings
Q1 2023 earnings · · Investor relations
Briefing
Announced first quarter results and updated full year guidance.
Crane Company reported strong first quarter results with 8% core sales growth and a record 18.5% adjusted operating profit margin. Adjusted EPS guidance was raised to a range of $3.60-$3.90. The company is well-positioned for growth and value creation following the separation from Crane NXT, Co.
- Pro forma earnings per diluted share (EPS) of $1.08, and Adjusted EPS of $1.25.
- Core year-over-year sales growth of 8% and core year-over-year backlog growth of 17%.
- GAAP operating profit margin of 16.8%, and record adjusted operating profit margin of 18.5%.
- Raising Adjusted EPS guidance to a range of $3.60-$3.90, from prior range of $3.40-$3.70.
Headline financials
Revenue & EPS history
Crane · Revenue · Quarterly
$514M
Revenue by segment
Crane · $452M total across 2 segments · Q1 2023
- Process Flow Tech$271M—60.1%
- Aerospace & Adv. Tech$180M—39.9%
Forward guidance
Crane Company raised its adjusted EPS guidance for 2023 to a range of $3.60 to $3.90, reflecting confidence in their portfolio of strong technology-driven businesses and consistent execution.
Tailwinds
- Total sales growth of approximately 5%.
- Core sales growth of approximately 4% to 6%.
- Adjusted operating margin of ~14.5%.
- Net non-operating expense of ~$16 million.
- Adjusted tax rate of ~23%.
Headwinds
- Corporate cost of ~$70 million.
- Mixed demand signals in certain end markets.
- Ongoing supply chain challenges in aerospace and defense end markets.
- Unspecified risks related to global economic conditions and geopolitical risks.
- Unspecified risks related to governmental regulations and compliance.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 12 quarterly earnings reports
+0.8%
Avg return
Earnings day
+1.8%
Avg return
5 days after
+5.2%
Avg return
30 days after
58%
38 / 65 earnings
Positive
+11.6%
Q3 2023
Best reaction
-11.4%
Q4 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.7% | -5.9% | -1.0% | |
| Q4 2025 | -11.4% | -12.9% | -2.7% | |
| Q3 2025 | +0.0% | -0.6% | -4.4% | |
| Q2 2025 | -0.9% | -0.5% | -4.2% | |
| Q1 2025 | +1.3% | +5.3% | +7.9% | |
| Q4 2024 | +8.7% | +5.3% | +0.8% | |
| Q3 2024 | +6.6% | +5.6% | +21.8% | |
| Q2 2024 | -4.7% | -8.2% | -2.5% | |
| Q1 2024 | +6.7% | +11.5% | +13.3% | |
| Q4 2023 | +8.8% | +11.5% | +9.2% | |
| Q3 2023 | +11.6% | +8.5% | +27.9% | |
| Q2 2023 | +2.7% | +3.5% | -4.6% | |
| Q1 2023 | -2.5% | +0.4% | +5.5% | |
| Q4 2022 | +6.7% | — | — | |
| Q3 2022 | -1.5% | — | — | |
| Q2 2022 | -2.2% | — | — | |
| Q1 2022 | -5.7% | — | — | |
| Q4 2021 | +1.9% | — | — | |
| Q3 2021 | +7.6% | — | — | |
| Q2 2021 | +3.4% | — | — | |
| Q1 2021 | +3.7% | — | — | |
| Q4 2020 | -4.1% | — | — | |
| Q3 2020 | -4.7% | — | — | |
| Q2 2020 | -5.9% | — | — | |
| Q1 2020 | +6.9% | — | — | |
| Q4 2019 | -0.2% | — | — | |
| Q3 2019 | -6.2% | — | — | |
| Q2 2019 | +4.1% | — | — | |
| Q1 2019 | -2.2% | — | — | |
| Q4 2018 | +4.3% | — | — | |
| Q3 2018 | -1.3% | — | — | |
| Q2 2018 | -0.8% | — | — | |
| Q1 2018 | -7.7% | — | — | |
| Q4 2017 | +2.9% | — | — | |
| Q3 2017 | +2.0% | — | — | |
| Q2 2017 | -7.3% | — | — | |
| Q1 2017 | +5.0% | — | — | |
| Q4 2016 | -3.1% | — | — | |
| Q3 2016 | +11.5% | — | — | |
| Q2 2016 | +5.4% | — | — | |
| Q1 2016 | -0.2% | — | — | |
| Q4 2015 | +3.8% | — | — | |
| Q3 2015 | +4.8% | — | — | |
| Q2 2015 | +0.4% | — | — | |
| Q1 2015 | +1.4% | — | — | |
| Q4 2014 | +2.4% | — | — | |
| Q3 2014 | +0.3% | — | — | |
| Q2 2014 | -0.2% | — | — | |
| Q1 2014 | +3.1% | — | — | |
| Q4 2013 | +1.6% | — | — | |
| Q3 2013 | +1.8% | — | — | |
| Q2 2013 | -1.1% | — | — | |
| Q1 2013 | +0.4% | — | — | |
| Q4 2012 | +2.0% | — | — | |
| Q3 2012 | +3.4% | — | — | |
| Q2 2012 | +1.3% | — | — | |
| Q1 2012 | -2.0% | — | — | |
| Q4 2011 | -1.7% | — | — | |
| Q3 2011 | +1.2% | — | — | |
| Q2 2011 | -4.4% | — | — | |
| Q1 2011 | +1.3% | — | — | |
| Q4 2010 | +0.1% | — | — | |
| Q3 2010 | +1.4% | — | — | |
| Q2 2010 | -0.3% | — | — | |
| Q1 2010 | -5.4% | — | — |
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