Crane Company · NYSE:CR
Crane — Q3 2021 Earnings Presentation
14 slides from Crane's earnings presentation, Oct 26, 2021
Slide 1: Crane Co. Q3 2021 Earnings Release Call
Crane Co. Q3 2021 Earnings Release Call
Slide 2: Forward-Looking Statements–Disclaimer
FORWARD-LOOKING STATEMENTS–DISCLAIMER This presentation may contain forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. These statements are based on the management’s current beliefs, expectations, plans, assumptions and objectives regarding Crane Co.’s fut
Slide 3: Q3 2021 Earnings Summary
Q3 2021 EARNINGS SUMMARY $ Millions except per-share amounts Q3 2021 Q3 2020 Change Sales* $834 $689 +21% Operating Profit** $140 $83 +69% Operating Margin** 16.8% 12.0% +480 bps Earnings per Share from Continuing Operations** $1.89 $0.93 +103% Free Cash Flow from Continuing Operations*** $103 $115
Slide 4: Aerospace & Electronics
AEROSPACE & ELECTRONICS $ Millions Q3 2021 Q3 2020 Change Sales $169 $157 +7% Operating Profit $33 $25 +33% Operating Margin 19.3% 15.6% +370bps Backlog $479 $498 (4%) Q3 2021 Highlights Q3 2021 Q3 2021 OE Sales +2% Core Growth +7.4% Aftermarket Sales +24% FX Translation -- OE/Aftermarket Mix 72% /
Slide 5: Process Flow Technologies
PROCESS FLOW TECHNOLOGIES $ Millions Q3 2021 Q3 2020 Change Sales $299 $252 +19% Operating Profit* $46 $29 +60% Operating Margin* 15.5% 11.4% +410 bps Backlog $351 $305 +15% Q3 2021 Highlights Q3 2021 • Compared to Q2 2021, sequential FX neutral backlog up +3% and FX neutral orders down (5%) Core Gr
Slide 6: Payment & Merchandising Technologies
PAYMENT & MERCHANDISING TECHNOLOGIES $ Millions Q3 2021 Q3 2020 Change Sales* $366 $280 +31% Operating Profit** $83 $44 87% Operating Margin** 22.6% 15.8% +680 bps Q3 2021 Highlights Q3 2021 • Crane Currency on-track to exceed $1.00 of EPS accretion in Core Growth* +29.0% 2021, consistent with origi
Slide 7: Cash Flow, Balance Sheet and Tax
CASH FLOW, BALANCE SHEET AND TAX $ Millions Q3 2021 Q3 2020 Better/(Worse) Cash Provided from Operating Activities $114 $122 ($7) Capital Expenditures ($12) ($7) ($5) Free Cash Flow from Continuing Operations* $103 $115 ($12) Effective (GAAP) Tax Rate 15.0% 25.7% 1,070 bps Non-GAAP (adjusted) Tax Ra
Slide 8: 2021 Guidance Summary: Continuing Operations Basis
2021 GUIDANCE SUMMARY: CONTINUING OPERATIONS BASIS $ Millions 2020 Prior 2021G (As Reported: Including Engineered (Issued July 26, 2021) New 2021G except per share amounts Materials) Net Sales* $2,947 $3,100 $3,150 Adjusted Earnings per Share** $3.84 $5.95 to $6.15 $6.35 to $6.45 Free Cash Flow*** $
Slide 9: Non-GAAP Information
>>» NON-GAAP INFORMATION
Slide 10: Non-GAAP Financial Measures
NON-GAAP FINANCIAL MEASURES The Company reports its financial results in accordance with U.S. generally accepted accounting principles (GAAP). Certain non-GAAP measures are provided in this presentation. Management believes that non-GAAP financial measures which exclude certain non-recurring items p
Slide 11: Non-GAAP Financial Measures: Income Items
NON-GAAP FINANCIAL MEASURES: INCOME ITEMS (in millions, except per share data) Three Months Ended September 30, 2021 2020 % Change $ Per Share $ Per Share (on $) Net sales (GAAP) $ 833.5 $ 686.5 21.4 % Acquisition-related deferred revenue1 — 2.6 Net sales before special items (adjusted) $ 833.5 $ 68
Slide 12: Non-GAAP Financial Measures: Segment Data
NON-GAAP FINANCIAL MEASURES: SEGMENT DATA (in millions) Payment & Aerospace & Process Flow Merchandising Total Three Months Ended September 30, 2021 Electronics Technologies Technologies Corporate Company Net sales (GAAP) $ 168.6 $ 299.1 $ 365.8 $ — $ 833.5 Operating profit (GAAP) $ 32.5 $ 44.3 $ 83
Slide 13: Non-GAAP Financial Measures: Guidance & Cash Flow
NON-GAAP FINANCIAL MEASURES: GUIDANCE & CASH FLOW 2021 Earnings from Continuing Operations per Share Guidance Low High Earnings from continuing operations per diluted share (GAAP) $ 6.50 $ 6.60 Special items impacting earnings per share (0.15) (0.15) Earnings from continuing operations per diluted s
Slide 14: Jason D. Feldman
Jason D. Feldman Vice President of Investor Relations 203-363-7329