CRANE Q4 2022 Earnings Release Call FORWARD-LOOKING STATEMENTS – DISCLAIMER This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations, including, but not limited to: statements regarding Crane's and the ultimate spin-off company's ("SpinCo") portfolio composition and their relationship following the business separa ...

Financial Data and Key Metrics Changes - Third quarter adjusted EPS was $1.86, a decline of $0.12 compared to last year, primarily due to a $0.16 impact from the divestiture of Crane Supply and a $0.19 impact from an unusually low tax rate last year. Adjusting for these items, adjusted EPS increased by 14% year-over-year [10] - Core sales growth was 2%, impacted by supply chain constraints and challenging comparisons for the Payment & Merchandising Technologies segment. Core year-over-year orders increased by 10% and core year-over-year backlog increased by 26% [11][12] - Free cash flow was negative $439 million in the quarter due to one-time contributions related to the asbestos liabilities divestiture, but excluding these items, free cash flow increased to $137 million from $108 million last year [42] Business Line Data and Key Metrics Changes Aerospace & Electronics - Sales of $167 million decreased by 1% compared to last year, with segment margins at 16.9%, down from 19.3% last year. Core orders increased by 30% and backlog increased by 24% [23][24] - Total aftermarket sales declined by 3%, while commercial aftermarket sales increased by 16% [25] Process Flow Technologies - Sales of $250 million decreased by 16%, driven by a 20% impact from the divestiture of Crane Supply and a 5% impact from unfavorable foreign exchange. Core growth was strong at 9% [30] - Core FX-neutral orders increased by 13% and core FX-neutral backlog increased by 16% [31] Payment & Merchandising Technologies - Sales of $335 million decreased by 8%, with a 3% decrease in core sales and a 6% impact from unfavorable foreign exchange. Operating margins improved to a record 25.9% [36][37] - Core order growth was 4% and core backlog growth was 40% [38] Engineered Materials - Sales of $63 million increased by 4% compared to the prior year, with operating profit margins decreasing to 10.8% [41] Market Data and Key Metrics Changes - Demand remains strong across nearly all core markets, with continued robust demand indicators despite global macroeconomic uncertainties [12] - Trends in China are strong, with accelerating investments in projects, while Europe has weakened slightly due to energy cost concerns [34] Company Strategy and Development Direction - The company is focused on driving growth, advancing technology, and preparing for the separation into Crane Company and Crane NXT, targeted for early April 2023 [14][15] - The separation is expected to unlock shareholder value and allow each company to optimize capital allocation and accelerate growth [15] Management's Comments on Operating Environment and Future Outlook - Management noted continued momentum with strong results and robust demand across end markets, despite supply chain challenges [12] - The supply chain environment is expected to improve gradually throughout 2023, with a return to a fully unconstrained environment anticipated by 2024 [28] Other Important Information - The company expects to achieve full-year adjusted free cash flow guidance of $350 million to $390 million, with a focus on inventory management to protect customers [43] - The balance sheet is in good shape, with adjusted gross leverage expected towards the bottom of the 2 to 3x target range for the current credit rating [44] Q&A Session Summary Question: Can you provide details on the backlog growth in the Payments segment? - The backlog growth was driven more by CPI than Crane Currency, with both segments seeing strong double-digit growth [51][52] Question: What is the outlook for federal government print orders for fiscal '23? - The expectation is for orders to be in a similar range as the previous year, with ongoing constraints in manufacturing capacity [55][56] Question: How is the PFT segment performing against prior guidance? - The segment is performing better than expected, with strong order growth primarily driven by pricing initiatives [59][60] Question: What is the expected price carryover into 2023? - There will be price carryover next year, but it will not be as significant as double or 50% carryover [85] Question: What are the expectations for corporate expenses for the year? - Corporate expenses are trending higher than the $75 million guide, but the outlook remains unchanged [88]

STIFEL 2022 CROSS SECTOR INSIGHT CONFERENCE Max Mitchell President and Chief Executive Officer Rich Maue Senior Vice President and CFO Jason Feldman Vice President, Investor Relations FORWARD-LOOKING STATEMENTS – DISCLAIMER 2 This presentation contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations, including, but not limited to: ...

Crane Co. (NYSE:CR) Q1 2022 Earnings Conference Call April 26, 2022 10:00 AM ET Company Participants Jason Feldman - VP-IR Max Mitchell - President and CEO Rich Maue - SVP and CFO Conference Call Participants Damian Karas - UBS Matt Summerville - D.A. Davidson Nathan Jones - Stifel Operator Greetings. Welcome to Crane Co. First Quarter 2022 Earnings Call. [Operator Instructions] Please note this conference is being recorded. I will now turn the conference over to Jason Feldman, Vice President of Investor Re ...

Crane Co. Q4 and Full-Year 2021 Earnings Release Call 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 future financial performance and are subject to significant risks and uncertainties. Any discussions contained in this press release, except to the extent that t ...

Crane Co. (NYSE:CR) Q4 2021 Earnings Conference Call January 25, 2022 10:00 AM ET Company Participants Jason Feldman – Vice President-Investor Relations Max Mitchell – President and Chief Executive Officer Rich Maue – Senior Vice President and Chief Financial Officer Conference Call Participants Damian Karas – UBS Kristine Liwag – Morgan Stanley Matt Summerville – D.A. Davidson Nathan Jones – Stifel Elizabeth Grenfell – Bank of America Operator Greetings, and welcome to Crane Co. Fourth Quarter 2021 Earning ...

Q3 2021 Financial Performance - Sales increased to $834 million, a 21% increase compared to $689 million in Q3 2020[2] - Operating Profit rose significantly to $140 million, a 69% increase from $83 million in Q3 2020[2] - Earnings per Share from Continuing Operations increased by 103% to $1.89, compared to $0.93 in Q3 2020[2] - Free Cash Flow from Continuing Operations decreased by 11% to $103 million, down from $115 million in Q3 2020[2] Segment Performance - Aerospace & Electronics sales increased by 7% to $169 million, with operating profit up 33% to $33 million[4] - Process Flow Technologies sales increased by 19% to $299 million, with operating profit up 60% to $46 million[5] - Payment & Merchandising Technologies sales increased by 31% to $366 million, with operating profit up 87% to $83 million[7] 2021 Guidance - The company updated its 2021 guidance, projecting net sales of $3150 million[11] - Adjusted Earnings per Share are now expected to be between $6.35 and $6.45[11] - Free Cash Flow is projected to be between $340 million and $365 million[11]

Crane Co. (NYSE:CR) Q3 2021 Earnings Conference Call October 26, 2021 10:00 AM ET Company Participants Jason Feldman - Vice President of Investor Relations Max Mitchell - President and Chief Executive Officer Rich Maue - Senior Vice President and Chief Financial Officer Conference Call Participants Elizabeth Grunthal - Bank of America Nathan Jones - Stifel Damon Karas - UBS Matt Summerville - D.A. Davidson Operator Greetings. Welcome to Crane Co's Third Quarter 2021 Earnings Call [Operator Instructions]. Pl ...

Crane Co. Q2 2021 Earnings Release Call 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 future financial performance and are subject to significant risks and uncertainties. Any discussions contained in this press release, except to the extent that they contain hi ...

Crane Co. (NYSE:CR) Q2 2021 Earnings Conference Call July 27, 2021 10:00 AM ET Company Participants Jason Feldman - Vice President, Investor Relations Max Mitchell - President and Chief Executive Officer Rich Maue - Senior Vice President and Chief Financial Officer Conference Call Participants Nathan Jones - Stifel Matt Summerville - D.A. Davidson Damian Karas - UBS Operator Greetings and welcome to the Crane Co. Second Quarter 2021 Earnings Conference Call. [Operator Instructions] As a reminder, this confe ...