Crane Co. Files Q3 2024 10-Q Report
Ticker: CR · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 1944013
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Crane Co. 10-Q filed for Q3 2024. Financials and operations detailed.
AI Summary
Crane Co. filed its 10-Q for the period ending September 30, 2024. The filing covers the third quarter and the first nine months of the fiscal year. Specific financial details and operational updates for this period are detailed within the report.
Why It Matters
This 10-Q filing provides investors and analysts with the latest financial performance and operational status of Crane Co., crucial for understanding the company's trajectory.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.
Key Players & Entities
- Crane Co (company) — Filer of the 10-Q report
- 20240930 (date) — End of the reporting period
- 20241031 (date) — Filing date
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is the period ending September 30, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on October 31, 2024.
What is Crane Co.'s Central Index Key (CIK)?
Crane Co.'s Central Index Key is 0001944013.
What is Crane Co.'s fiscal year end?
Crane Co.'s fiscal year ends on December 31.
What is the SEC file number for Crane Co.?
The SEC file number for Crane Co. is 001-41570.
Filing Stats: 4,790 words · 19 min read · ~16 pages · Grade level 7.4 · Accepted 2024-10-31 16:14:05
Key Financial Figures
- $1.00 — ich registered Common Stock, par value $1.00 CR New York Stock Exchange Indicate b
Filing Documents
- cr-20240930.htm (10-Q) — 1546KB
- cr-ex311_93024.htm (EX-31.1) — 9KB
- cr-ex312_93024.htm (EX-31.2) — 9KB
- cr-ex321_93024.htm (EX-32.1) — 5KB
- cr-ex322_93024.htm (EX-32.2) — 5KB
- 0001628280-24-044560.txt ( ) — 7861KB
- cr-20240930.xsd (EX-101.SCH) — 48KB
- cr-20240930_cal.xml (EX-101.CAL) — 88KB
- cr-20240930_def.xml (EX-101.DEF) — 221KB
- cr-20240930_lab.xml (EX-101.LAB) — 639KB
- cr-20240930_pre.xml (EX-101.PRE) — 446KB
- cr-20240930_htm.xml (XML) — 1188KB
- Financial Information
Part I - Financial Information Item 1.
Financial Statements
Financial Statements Condensed Consolidated Statements of Operations Page 3 Condensed Consolidated Statements of Comprehensive Income Page 4 Condensed Consolidated Balance Sheets Page 5 Condensed Consolidated Statements of Cash Flows Page 7 Condensed Consolidated Statements of Changes in Equity Page 9 Notes to Condensed Consolidated Financial Statements Page 11 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations Page 29 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk Page 44 Item 4.
Controls and Procedures
Controls and Procedures Page 44
- Other Information
Part II - Other Information Item 1.
Legal Proceedings
Legal Proceedings Page 45 Item 1A.
Risk Factors
Risk Factors Page 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds Page 45 Item 3. Defaults Upon Senior Securities Page 45 Item 4. Mine Safety Disclosures Page 45 Item 5. Other Information Page 45 Item 6. Exhibits Page 46
Signatures
Signatures Page 47 2 Table of Contents P ART I: F INANCIAL I NFORMATION
: FINANCIAL STATEMENTS
ITEM 1: FINANCIAL STATEMENTS CRANE COMPANY CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Three Months Ended Nine Months Ended September 30, September 30, (in millions, except per share data) 2024 2023 2024 2023 Net sales $ 597.2 $ 530.1 $ 1,743.7 $ 1,553.5 Operating costs and expenses: Cost of sales 359.2 326.9 1,061.3 942.3 Selling, general and administrative 132.8 126.9 391.2 394.3 Operating profit 105.2 76.3 291.2 216.9 Other (expense) income: Interest income 1.5 1.5 4.0 3.2 Interest expense ( 7.3 ) ( 4.8 ) ( 21.9 ) ( 16.7 ) Miscellaneous income (expense), net 0.7 1.3 0.5 ( 0.5 ) Total other expense, net ( 5.1 ) ( 2.0 ) ( 17.4 ) ( 14.0 ) Income from continuing operations before income taxes 100.1 74.3 273.8 202.9 Provision for income taxes 22.8 19.1 60.1 48.5 Net income from continuing operations attributable to common shareholders 77.3 55.2 213.7 154.4 Income from discontinued operations, net of tax (Note 3) — — — 52.1 Net income attributable to common shareholders $ 77.3 $ 55.2 $ 213.7 $ 206.5 Earnings per basic share: Earnings per basic share from continuing operations $ 1.35 $ 0.97 $ 3.74 $ 2.72 Earnings per basic share from discontinued operations — — — 0.92 Earnings per basic share $ 1.35 $ 0.97 $ 3.74 $ 3.64 Earnings per diluted share: Earnings per diluted share from continuing operations $ 1.33 $ 0.96 $ 3.67 $ 2.69 Earnings per diluted share from discontinued operations — — — 0.91 Earnings per diluted share $ 1.33 $ 0.96 $ 3.67 $ 3.60 Average shares outstanding: Basic 57.2 56.8 57.1 56.7 Diluted 58.3 57.5 58.2 57.4 Dividends per share $ 0.205 $ 0.18 $ 0.615 $ 0.36 See Notes to Condensed Consolidated Financial Statements. 3 Table of Contents CRANE COMPANY CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (UNAUDITED) Three Months Ended Nine Months Ended September 30, September 30, (in millions) 2024 2023 2024 2023 Net income before allocation to noncontrolling interests $ 77.3 $ 55.2