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Crane Co (CR) Reports Strong Q3 2023 ResultsCrane Co (CR) Reports Strong Q3 2023 Results and Raises Full Year EPS Guidance. On October 23, 2023, Crane Co (NYSE:CR) released its financial results for the third quarter of 2023, reporting strong performance and raising its full-year outlook. The company's earnings from continuing operations per diluted share (EPS) stood at $0.96, with an adjusted EPS of $1.03. Crane Co (NYSE:CR) also reported a core year-over-year sales growth of 9% and a significant growth in operating profit from continuing operations of 165%. Financial Highlights The company's net sales for Q3 2023 were $530 million, a 10% increase from $480 million in Q3 2022. Operating profit from continuing operations was $76 million, a significant turnaround from the operating loss of $117 million last year. The adjusted operating profit from continuing operations stood at $81 million, marking a 42% increase from the prior year. Crane Co (NYSE:CR) also announced the acquisition of Baum lined piping GmbH for approximately $91 million on a cash-free and debt-free basis. This strategic acquisition is expected to bolster the company's Chemical business within the Process Flow Technologies segment. Segment Performance The Aerospace & Electronics segment reported sales of $207 million, a 24% increase compared to the prior year, with an operating profit margin of 19.4%. The Process Flow Technologies segment reported sales of $267 million, a 7% increase, with an operating profit margin of 19.2%. The Engineered Materials segment, however, reported a decrease in sales by 11% to $56 million, but saw an improvement in operating profit margin to 13.7%. Outlook and Dividend Announcement Crane Co (NYSE:CR) has raised and narrowed its adjusted EPS guidance for 2023 to a range of $4.05 to $4.20, up from the prior range of $3.80 to $4.10. The company also declared a fourth quarter 2023 dividend of $0.18 per share. Despite some signs of expected slowing order activity in a few of its industrial and process flow markets, the company remains optimistic about its prospects in the coming quarters and years.
NYSE:CRLong
by DEXWireNews
There is a trading opportunity to buy in DCRUSDTechnical analysis: . DECRED/USDollar is in a range bound and the beginning of uptrend is expected. . The price is below the 21-Day WEMA which acts as a dynamic resistance. . The RSI is at 47. . The price downtrend in the daily chart is broken, so the probability of the resumption of an uptrend is increased. Trading suggestion: . There is a possibility of temporary retracement to suggested support zone (39.00 to 31.00). if so, traders can set orders based on Price Action and expect to reach short-term targets. Beginning of entry zone (39.00) Ending of entry zone (31.00) Entry signal: Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons: Take Profits: TP1= @ 54.58 TP2= @ 58.52 TP3= @ 72.15 TP4= @ 83.18 TP5= @ 94.32 TP6= @ 110.07 TP7= @ 130.05 TP8= Free
POLONIEX:DCRUSDLong
by ForecastCity