Crane Q2 sales beat estimates, raises annual profit guidance

Overview

• Crane Q2 sales rise 9.2% to $577.2 mln, beating analyst expectations, per LSEG data

• Adjusted EPS from continuing operations up 24%

• Co raises full-year adjusted EPS guidance to $5.50-$5.80

• Announced agreement to acquire Precision Sensors & Instrumentation on June 9

Outlook

• Crane raises full-year adjusted EPS outlook to $5.50-$5.80

• Company expects 2025 sales growth of approximately 6.5%

• Company projects net non-operating income of $4 mln

Result Drivers

• CORE SALES GROWTH - 6.5% core sales growth, contributed to overall sales increase

• AEROSPACE & ELECTRONICS STRENGTH - Segment showed strong core order and backlog growth, boosting results

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the industrial machinery & equipment peer group is "buy"

• Wall Street's median 12-month price target for Crane Co is $200.00, about 4.6% above its July 25 closing price of $190.73

• The stock recently traded at 32 times the next 12-month earnings vs. a P/E of 27 three months ago

Press Release: ID:nBw22yCQ8a