Crane (CR) Q3 2024 Earnings Call Transcript

Motley Fool Transcribing, The Motley Fool

Mon, January 26, 2026 astatine 9:39 AM CST 33 min read

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Tuesday, October 29, 2024 astatine 10:00 a.m. ET

• President & Chief Executive Officer — Max Mitchell

• Executive Vice President & Chief Financial Officer — Richard Maue

Max Mitchell: Thank you, Allison. Thanks, everyone, for joining the telephone today. Crane had different fantabulous 4th with results outperforming expectations. Adjusted EPS was $1.38, driven by an awesome 6% halfway income growth, reflecting spot crossed some Aerospace & Electronics and Process Flow Technologies. We besides had beardown starring indicators with halfway orders up 6% and halfway backlog up 10% compared to past year. And assurance successful our outlook for 2024 remains high. We've had a precise coagulated year-to-date arsenic we proceed to successfully execute connected our strategy.

I privation to instrumentality a infinitesimal to admit those that person been impacted by the caller hurricanes, which person caused wide devastation with interaction for galore of our associates and customers located successful the Southeast. Crane's Marion, North Carolina tract was straight affected by flooding from Hurricane Helene arsenic was the portion and we are successful the process of betterment and bringing operations backmost online. While we are making large advancement to date, the information of our employees, their families and the communities successful which we run remains our superior concern. And the Crane Foundation is arrogant to enactment galore organizations providing alleviation and assistance locally successful the aftermath of hurricanes Helene and Milton.

In summation to the Marion installation successful the quarter, we besides saw galore days of downtime from powerfulness outages astatine a tract successful South Carolina owed to Helene, and we mislaid a week of output from our Aerospace & Electronics tract successful Taiwan owed to Typhoon Krathon. The second 2 were little disruptive and those locations volition afloat retrieve mislaid 3rd 4th income of the 4th quarter. At Marion, however, it volition instrumentality a small longer to restart operations. But we expect security to screen each concern interruption, though we whitethorn not person the security betterment until aboriginal adjacent year.

Despite these caller challenges, I stay highly assured successful the spot and resilience of Crane's squad and portfolio and we are erstwhile again raising and narrowing our afloat twelvemonth net outlook, expecting adjusted net per stock to beryllium successful the scope of $5.05 to $5.20, up from our anterior presumption of $4.95 to $5.15. We person nonstop enactment of show to delivering this expected 19% net growth. At Process Flow Technologies, guidance continues to presume somewhat muted concern enactment arsenic good arsenic little shipments from our Marion installation owed to Hurricane Helene.