Crane Co

CR: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$246.00	Ffvjsy	Zjwclrjg

Crane Earnings: Aerospace Recovery and Strong Backlog Drive Raised Guidance

Krzysztof Smalec

Jul 26, 2023

Narrow-moat-rated Crane posted solid second-quarter results, featuring a 30% year-over-year increase in adjusted operating profit from continuing operations, and raised its full-year outlook for the second time this year. The company delivered a 430-basis-point year-over-year adjusted operating margin expansion in the second quarter, from 12.2% to 16.5%. We've increased our fair value estimate to $87 from $85, which reflects our slightly more optimistic near-term revenue growth assumptions as well as time value of money.

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