CR - Earnings call transcript Q4 2024

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Operator

Welcome to the Crane Company Fourth Quarter and Full Year 2024 Earnings Conference Call. [Operator Instructions]

I would now like to turn the call over to Allison Poliniak, Vice President of Investor Relations.

Allison Poliniak

Thank you, Shelby, and good day, everyone. Welcome to our Fourth Quarter 2024 Earnings Release Conference Call. Rich morning, Executive Max Vice Officer; Officer; Chief is Officer; for this President our President on along call Vice also and Operating Chief Executive Investor Senior and Alex and Treasury, with our Jason we Chief Vice Mitchell, have Chairman, and President Feldman, On and our President, Financial Tax Maue, Q&A. Alcala, who Executive Relations,

After Max, which, our off with few Alex call questions. and from Rich. will We will start we prepared a to respond remarks

And call pertaining just in also cautionary our statements. forward-looking to you reminder, on a of the comments filings and the will We our statements. make we annual to language this bottom release forward-looking at report, the include XX-K some earnings subsequent refer and

some accompanying call, which on are both in section. tables available Also we numbers, the Investor to comparable our using of slide at our and end Relations website be will press GAAP non-GAAP the the release presentation, at numbers www.craneco.com reconciled in are which during of the

let over to turn call Now Max. the me

Max Mitchell

joining Allison. call you, for the everyone, Thanks, today. Thank

While few outperforming expectations. to before QX excellent dive to a would we I the recent a our announcements. into results, touch But results with on strong like close year in nicely another

you higher into strategically who business. First, call the team. partner portfolio this a me Officer not, has instrumental Alex Alcala, of Crane's want know and I he to margin growth, years to higher Chief from joining do has have we been acknowledge forward. him part us But for and morning of higher for that the return was those Operating who been Many to promoted as already an Alex transformed the back moving is in XX December and

number Alex his capabilities and has a roles in strategic Crane. of at operational demonstrated

segment Process capacity and the managing of my First, followed as Technologies as as President, President Process on Valve post-separation as acquisitions. deployment Senior Crane's our Vice for regional Systems accelerating our His to strategic focus our all and Pumps business, teams. as of strategy President Flow appointment segments further President roles attention and through business, of and then Vice Executive by me gives COO growth

you Congratulations, driving being the for in Crane thank you and and team. results all do with Alex,

Alejandro Alcala

you, to proud comments. been continued for Thanks Thank Max. look It's I fun the forward really communications. I'm our kind investor and team. of so

Max Mitchell

actions over Also another reflects Engineered that our reminder divestiture simplify announced the completion January on This Materials forward the our a on important few we our divestiture yet X, with growth and last years strengthen as strong taken the Aerospace we cadence segment. have X focusing the Process numerous to well step With of very following behind this Electronics are of organic resources portfolio, capital accelerating we deployment Flow our divestiture focused platforms, and & as growth growth execution. now inorganic through strategic on Technologies. disciplined profitable sheet balance our accelerated driving us, through and

Following for to Materials of the all we that today Engineered results XXXX. treat operations as divestiture, speak discontinued

impressive an Electronics up the in quarter. of Flow X% the Aerospace growth, orders EPS Now $X.XX by core Core driven strength X% solid, quarter. & also both across on Technologies. to were Adjusted Process sales was reflecting and

full North of to production challenges in site results report extremely we which Hurricane to Carolina is to and impact normal the continue We I'm some drive of despite and that is unique included on pleased getting discussed, facility. Helene rates. outstanding ahead temporary the previously recovering close the Marion, schedule quarter our

speed to over the to our highlighted and I key have flexibility the is issues time last the proven business we control. Crane of and a As react system strength time quarter, tenet that after years outside

face the another XXXX is consistently our in of great differentiated in of performance performance adversity. example Our

XXXX. over $XXX Sales year Full X% year XX% for Adjusted XX% million adjusted profit growth increased increased acquisitions. X% the for $X.XX, XX%, to from operating driven core compared of contribution by XXXX prior EPS year. full and was up the

Coming highly in portfolio. resilience team also and dividend XXXX And strength remain XXXX, that confidence confident performance turning of increase last Crane's off night I the in to in record is announced of reflected XX%. the and and

I in EPS $X.XX, addition, In feel EPS the our XX% initial $X.XX midpoint. adjusted XXXX of solid adjusted at confident to guidance growth

at macro initial our continued outperformance Electronics and that year, mixed. remains the Flow strong for demand signals setting industrial In unchanged even Technologies, backdrop assume Process market the remain of trends we with Aerospace largely as demand view &

progress on Electronics to and M&A balance capitalize continued well existing become both to Process our actionable sheet in M&A expect additional across & with opportunities. Technologies. our Flow opportunities And Further, on Aerospace is positioned XXXX we funnel,

is of of course years visited a over will strong. in actionable personally indications in potential for become with that we've X alone, the lot Europe. targets the this funnel activity. XXXX. Our team the one assets And quite a There's I few targeted one Midwest, month are

Before as turning is X, which production an power a just quick military site XXXX. our hosting for houses defense manufacturing power Walton Aerospace radars. range Electronics products in of that Meeting our in we site applications wide business, used This the be conversion to next-gen of will such Beach, the over reminder our location & Fort on Florida call at Alex, Investor March

solutions. ultra-high of if Allison in information. emerging As vehicles you need look power Please I out ground seeing there. capability you and other to growing to further an with forward reach example, many for

Operating pass to me Chief over the Officer, and Alcala, the our let some Mr. Now highlight Alex of to quarter. wins in key it successes

Alejandro Alcala

unlock we've introduction. kind transform again with honor and Crane on and journey as thanks and to value. continued Max, an Thanks, the you the to be this team It's been for

Crane many at are to built profitable into ways, about this I sustainable, where we bit forward of we Beach and look will Walton teams feel in our in seeing continue Fort little future go energized just started. I machine in you about getting we're more Our a many drive to to robust March, growth. have detail

upgrade some received the now strong first comments Let remains Aerospace proud & defense me move quarter. we report, and Within I'm demand order, steep orders at about Electronics, some business. all Total the a F-XX make control program, the on including military brake commercial to for for XXXX. across are ramp-up our solidifying $XX very our million, starting of sales. categories this this now foreign confidence received beginning project on to in of further

the per break military including fighter sales, total As reminder, $XXX X-year rate, F-XX is sales, a life run most $XX program. a fleet with of follow portion year of the of which this of program U.S. Air at the foreign $XXX program Force modernization million million, aircraft about of to million U.S. for will

unmanned made programs, on combat strong we Also on additional demonstrator electrification progress continue continued are also vehicle negotiations radars. We continuing programs. for additional AESA and significant aircraft proposal collaborative other activity

Flow outperform with Technologies, continue better Process we our than results in Within we to expected XXXX.

growth today demand the XXXX, environment, America greatest see the change North For we for in with remaining region Crane. little

secured Middle the quarter, East. sizable fourth a In for order project Crane in a the large fertilizer

a a superior North orders this valves manufacturing expansion prioritizes and XXXX Saudi we in of Vision with for for large sizable to aligned key win. we have abrasive Our location the And facility preferred provide this enabler America, and was received customer. resistance, that related chemical a a localization,

million the back market a approximately Crane top we position has expand to Through of space the and Technifab, of semiconductor penetrated cryogenics equipment in [indiscernible] market, as further and our U.S., launch CryoWorks expect in of revenue cryogenic provider and the high-growth $XX pipe acquisitions consolidating of which XXXX. adding

with XXXX current quarter supporting reported well results future on already to X% operating X% margins and strong as average potential activity long as Day, that & solid from Investor sales another confident and Flow And to and opportunity as of Overall, Technologies, for remain should both double-digit on and rate solid is we term, resilient aftermarket in capital core top long-term our businesses during core deployment annual Electronics growth upside growth we from Process virtually no with our Aerospace lead the both deployment. significant. reiterated in durable capital a growth. debt, profit today with substantial And leverage

the Rich details and more me over our on quarter turn let guidance. more Mr. some our call Now CFO, for specifics the Maue on to

Richard Maue

of Thank you movie the Brothers, in as of you someday will as well "Maybe speeds, Alex, driving the across you acquisitions, welcome bridge John the become Reilly for And friends my Step calls. to part moving Hemdale." forward. step could Hey, about said calls you, here like like in to addition Crane, Brennan, think his timeless to shooting Dale results to we have to quarterly congratulations who we flaming what may translucent ride and want well, to friends, bring brother, Alex. the classic, arrows know, and C. hunting here our playing fun so majestic

Alejandro Alcala

to bar get That's Rich. Okay, very over. a low

it. So let think about me

Max Mitchell

Let's to the get call. back

Richard Maue

with Adjusted across net and backlog strong by results. as We strong company quarter everyone. Good with XX%, year sales differentiated consistently profit outsized core also operating Starting accelerating reflecting in along driven the & to well, last increased were strength indicators our price excellent driven X% quarter year, compared at execution. Okay. total and in core segments. to the solid volumes, up with growth with leverage growth quarter. on orders morning, compared were Leading drove X% our Electronics, strength up operating by core Aerospace both last FX-neutral core X% productivity, focus strong another

Recall, from cash flow the full and was range $XXX we million $XX expected million generated free $XXX adjusted operations for cash year, of lower year million full range. our end year free $XXX ago. cash generated million above to included guidance at approximately to our October flow free the $XXX be the For That a we that Materials. million of from Engineered well continuing flow

million. Materials, million Excluding been $XXX $XXX have that range Engineered would to

will our XX% cash confident So free deliver the greater results than in supply as chain line that we were XXXX, we in improves. And are adjusted expectations. flow conversion with

divestiture million after the at of million $XXX $XXX proceeds hand. the on of debt of approximately was Materials with segment from the received year. cash close were the $XXX Total end Engineered of million, the Net of XXXX

of M&A. today with continue approximately to substantial for financial We have debt capacity $X.X billion flexibility

our active, with we always growth, excited financial as remains shareholders. investments acquisition have discipline we reminder, And internal and for noted, will very our employed, we about opportunities are a deploy strategic returns As by same to strict XXXX. capital M&A followed the our that in prioritizing M&A and and pipeline Max

XXXX turning guidance. to our Now

view and year a assumes are within core As growth the full estimating we in of X% profit XX% reflecting adjusted of a the initiating midpoint. we total the to operating $X.XX, midpoint. X% growth range at be at XX% to enter $X.XX growth approximately year-over-year EPS to Guidance year, adjusted

to XXXX. another a very X% X strong X% a point sales acquisitions we in benefit from Overall, headwind foreign expect from also exchange. and We anticipate around year

strong very No demand environment. Starting conditions the relative details & segments. end our in still Aerospace for with market on more Now Electronics. a to material expectations, change

business, high On the the demand low limitations aftermarket very an parts aging on and that more service. aircraft commercial side due of from to retirements aircraft and requires fleet resulting remained deliveries

spending and On including also acquisition. a a quarter high million $XXX secured even growth, we the XX% reflected with today. substantial base, the acquisition. further, side, the backlog for see benefit continue and year-over-year, have growth given focus increasing $XXX to X% our on Vian record recent growth on upgrade And that in continued highlighted, industrial rates as the year up XX% we to fourth broader sales sales solid brake growth of level calls. Alex defense with defense XX% from and reinforcing Even core core F-XX increased a Vian X% highlighting contribution we procurement last million, X% That global compared uncertainty strong of control order was the a the our heightened of from been with continued demand

sales military. in commercial And sales XX%, aftermarket aftermarket X% commercial up increased in increased up aftermarket the XX%. total quarter XX% quarter, sales and growth and the X% up with with military In XX% OEM in

basis Adjusted year, points from higher XXX of last segment margin primarily reflecting net of volumes, XX.X% XX.X% productivity. price inflation and increased

of X% long-term core of On to a year year full our targeted range as basis, X%. growth as our exceeded the XX% sales well expectations for

to margin expanding operating prior of profit operating basis over points with increased XX.X%. million XXX $XXX year, the XX% Adjusted adjusted

strong the by up Boeing. be single continued to at as leveraging more Looking challenging, sales with XX% become ramp year-over-year ahead with digits sales the anticipate rates to growth growth we assumes year decelerating at in offset for but XX%. XXXX, to the comparisons production core That that growth high core guidance

another growth create -- can quarterly rates we growth outstanding in growth noise rate by comparisons yet remainder continued for core expect previously, confident as we strong XXXX outlined have sales XXXX. in growth While and followed be of XXXX's some this on very for year core decade, the to

we remain Technologies, Flow well positioned At to Process markets. our continue outgrowing

by Carolina path its site Marion, run be full rate well to the the back Our month. end is of in North the on to

expected an approximate $X.XX hurricane our the insurance to the quarter, be end impact QX, by headwind. higher the in results from from production For the financial included fully $X.XX offset our impact $X.XX recoveries. will of downtime Overall,

expected Demand strengthening further million, trends moderate with we remain the the CryoWorks quarter sales in half. Technifab the benefit X% a core XX%, In of in with consistent growth in by the driven the second $XXX first along improvement quarter, and with with XXXX and sales half acquisitions. of delivered X% itself, from up

year, up backlog projects the X%. on based FX-neutral and core X% Compared orders to were timing decreased the FX-neutral of prior core

net with volumes. strong price leverage basis of core margin the operating driven strong XX.X% higher and by quarter operating Adjusted expanded XXX productivity, better in we than points expected,

X% year expectations of X%. was X% at On growth high end range a basis, and long-term of core our targeted to the exceeded of the full for year our

of margin Adjusted adjusted points XX.X%. XXX XX% the basis operating increased with over to profit million year, $XXX prior expanding operating

that For shift COVID XXXX, is our remember XX.X%, structurally to reflective to growth we business as end step margins, the context, this higher in is significant in in noted higher-margin of a just change which margins function before, were efforts markets. before

assertive, continued opportunity see technology-driven on continue pricing productivity. that and is We disciplined from to new our accretive introductions, product contribution appropriately journey this and both differentiation in investments continued through product

to that given to expected XXXX, to benefits. leveraging normal low be our strong for XX% core Looking to digits mid-single the targeted above XX% anticipate pricing productivity with ahead mix, and year up growth sales we growth

XXXX Another fantastic in XXXX. Crane in confidence year performance to deliver of strong in and at continuing

earnings. Hey, this with for we have conflicting morning, busy analysts a number of calls morning a very

light may at So take little morning. this be this our we And to the question. questions first are point, a ready

Operator

Jones question with We'll Nathan [Operator take Instructions] from our first Stifel.

Nathan Jones

and these that don't another results get would call with why know comedy the choose anybody along I when show goes they it.

Max Mitchell

We appreciate it. Thanks, Nathan.

Nathan Jones

growth, don't think just fourth off been X.X% burn on fourth questions some you Strong quarter, over last PFT. years. off I'll the I with the few in did backlog start but which in the some has quarter, typical

dynamics if more on could just color little a provide on you there. going So the

Alejandro Alcala

Yes. Alex. Nathan, this is Sure.

execution results. in in of way backlog, ship then you I see think grew first that with So really and of on bookings, the it, with half about we're the our timing some backlog some project the to excellent that able our

second a reduce did it So the little bit in half.

sequentially However, X pretty our quarters, the last have consistent. been during orders

we're you So really at I about the about it way comparing is backlog our to think still finished a about XX%. strong XXXX, think position. it up When

XXXX we're on growth. of pretty to in and think I to So confident a strong our entering backlog demand, mid-single-digit with low guidance moderate some improvements some hit expectations

Nathan Jones

question this longer-term is maybe of few And over the a a last years. bit

Rich, equilibrium higher-margin at Can been a something outgrow in might and moved few a -- portfolio margin about the over I last of bit that how huge are in having process, margin commented over obviously steady when than market of to growth a expansion was intend talk years. evident an you what's still far more know more you think expansion You through been to the I level? you've years. approaches the we you and pace few your margins, last expand that but rather see seen higher it which the has huge about comments the PFT businesses,

Alejandro Alcala

Alex again. that is question. This Yes. Thank for you

north markets XXXX, you we in these when has -- the mix we call have the in trying mark, think wastewater midterm, a XX% portfolio portfolio the journey, investor a reset what we think And our about pharma, XX% we that's acquisitions. journey was and higher-growth And talked portfolio been the of I this we're these, our in we improvements and around what through when of markets. counting to where of about long chemical, cryogenics, about, talked XX%. growth not of these now that any in conference,

about We talked operating mid-XXs in profit. line also of sight,

the some we our which is in into all to excellence, team, operational feeding us to to with the at really, is that key. commercial as includes driving there's room value excellence starts which continuing Crane, think So is way the through call strategy, and we pricing at the just which driving end, the this execute simplification well building our And giving us strategy, still what's going improve there that midterm. get innovation, pricing, of and machine

Nathan Jones

And where signals a where any you on are then little I about signals. are us cadence Just there? of any unpack detail could geographies? one can you just that those the economy not signals guess those you're expecting the the changes good, more maybe putting any good, the of out mixed so talked you any question. Max, if Maybe industrial markets, in bit give some of just

Max Mitchell

Thanks, We're add are to fairly little or expected, Nathan. things leading a it's And and color and projects of I some mix some indicator as will administration. well. lumpy Alex in a so as continue strong. has the additional year course, standpoint, be forth. though, a early exiting if From bit see little new just, timing a

guidance be on are the I of bit on execute where more in high, which I'm stagnant. in than of terms generally China, we've to U.S. probably stronger. and high so we just terms have overall. think a Europe, actually, confidence we a And not, and The bullish the little being little it, that still able deliver same. range to continues set,

if bit segment? offer the Alex, about know, more by little commentary a don't I you'd mix

Alejandro Alcala

Yes.

or getting think really we're region worse. seeing I particular not any market So

quarters, the things have last X Over stable. relatively been

imply go that as improvement we the follow would we some if into XXXX. So trends,

see expect we So that. to

China were and think were in deteriorating and Middle but XXXX, commented, Max Americas, as APAC stabilized. stable, Europe growing, I East,

standpoint. a see from dynamic to a expect we regional similar So

continues cryogenics, new is our which business, demand. see strong I in vertical to think markets, our

moving pharmaceutical funnel, on the improvements, capacity projects well. seeing expansions efficiency We're as chemical. upgrades, through expect We

So activity and type I 'XX. markets in think regions, a improvement but similar by some of expected

Operator

question We'll Matt take our Summerville next D.A. Davidson. from with

Matt Summerville

prepared And assets, been the that comment quality you're recently the what recently to around the and of market kind have the I then of of of bit little contrast on looking you site a seen And segments, doing coming see compare what also some potential a Can assets versus deals. on mentioned you the Maybe, over the the couple year? Max, the then maybe course you've you available follow-ups. of maybe of in remarks you've your types diligence couple a size? at,

Max Mitchell

A&E, the value, I of in one enterprise PFT. the dollars would one in $XXX range to value of in less. say Generally, hundreds millions Yes. million

So of that what kind businesses doubt. forward. I we're seeing see sweet high-quality a almost spot, moving without as say consistent we're we would with

with well. come generally frame still So some we're larger to come market our to a to type assets as pleased larger, as looking as we but that That's in to that well how sweet the little expect targeted expect that of those at fruition, it up. we spot I'd

Rich? anything Would you add different,

Richard Maue

that's No, I think right.

in nicely on being fitting targeted we're focused accretion our and strategy the flow the end that at so on, the for think, forth. and that we ones when I being well coming with markets margin potential as cash think about are you the looking up particular X there, higher growth, there

Matt Summerville

and you've and how OE OE military this organic of and A&E between OE the year, With you're how respect the MAX help the then kind view? it. little of are assumptions restart and parse high that contrast for Got ultimately, out and what into you incorporated maybe your similarly to a between thinking and you're commercial aftermarket can maybe and compare about single-digit commercial bit, aftermarket projecting sort

Richard Maue

next thinking pieces, how the you here we're in of give terms Matt, I'll So year. about

OE aftermarket, at single single double high current for OE, high our aftermarket, For mid-single-digit. mid- same, we That's view. you digit. in range morning. commercial low guidance Military digit what Commercial military guys included is digit. the to is And right we've our mid- to are now, this

Max Mitchell

ramp guidance of the fairly that continued achievable, previously recovery, are I or we in think based think terms rates communicated I MAX start-up on conservative. our

as there, So benefit we is we'll prepared which accelerated from well. that potential then so, is signaling great to And if understand that some Boeing be news.

Matt Summerville

for you then Rich, and kind you as Q&A, last when how earnings maybe of question, the what little quarterly should said help overall And the remarks in with about thinking you bit in we year prepared pull be move Crane overall? the cadence 'XX through maybe a together can we

Richard Maue

Sure.

So I first XX-XX it's second mean, roughly on half, balance, half.

I the Matt. quarter if would helps you, first lowest, say, The seasonally, will be that

should that you to model. square with think able off I your be

Matt Summerville

how does yes. then -- And

in So kind interruption I that be follow-up of that on guess total just to much should thinking insurance basis? And in quick Is share the fully having to that. expect you in where The about baked one guide? per we a business recovery, do numbers, so speak? how

Alejandro Alcala

would should quarter second to in the the We recovery third. a in in expect the the last lost that. the it's that income be receive to perspective, was year. And second something potentially year, of similar expect From this yes, half timing that probably we included

Operator

take And next of question our we'll from with Jordan America. Bank Lyonnais

Jordan Lyonnais

thinking For the volume margins versus you're details how mix could for us on you and of absorption? overhead give XXXX, about pricing

Richard Maue

Yes.

than got some our a pretty of, calculated price on overall more our as to offset look, our probably that has previously you the given would expect guide communicated. Look, baseline. we're overall we average, we've guide, healthy rate, as way about inflation leverage think, what going -- in it's think north to algorithm So I a

we I continue forward. the continue the work right to then do goes move we been think that initiatives and to in going without that with to saying. regard -- all have pricing as value we're respect other all And

XX%. of businesses the at terms into that will come and leverage leverage they those volumes In rate and is respective that and absorption will facilities, in each baked

of I bit a little north think on XX% the it's guide.

Jordan Lyonnais

side? of Got retaliation the in does PFT -- China with guys the at all you are potential programs through and ramping China then it. the Okay. go tariffs exposure administration those and if any for to And new have aggressive are guys you from concerned also for

Max Mitchell

I have very little concern.

inflationary in so not very, think supply content measures. I position our understand localization effective in been managing material. the our is very base. We We've China from

see not we're in happens. to think wait going to get I'm I measures whatever I'm thinking to address prepared I it, to how what concerned. that it and overreact. We're That's And I'm overreact Jordan. we're to about place. not think going going well not put

Operator

our take Justin with from question Ages We'll next Securities. CJS

Justin Ages

housekeeping transaction-related Engineered should [ Jan about a any quick going no, there or be ] expenses Xnd start. one Just on Materials? thinking closed the Is we forward to given

Alejandro Alcala

No, No. And transaction they to are anyway, treated Yes. if nothing. usually were related they Materials. Engineered nothing but non-GAAP expenses, as

Richard Maue

Yes. of to most Yes, I done the the work end closed obviously, and would that the say since of we year was January. prior in the early

have be a TSA arrangement separation. place, in we So fast very a modest it and will

Justin Ages

calls, Okay. And prior some in then earnings guys on on the out of nuclear work couple you the valves. called the side

a wondering if to get there? wanted see good just election? Or continuing demand changed since to the Just if that's you're sense

Max Mitchell

less our important an revenue, percentage material us What's but business. total still for overall, it's of X%. It's

to investors, services as our have reminder valve nuclear we valve Just services, a we provide.

in goes construction, shutdown refurbing New well plant refueled, down gets a turnaround for and for and nuclear When valves work. and APXXXX, there's inspecting power plant valves. in regulatory as going the as we've supplied requirements the

the favorable plants We and of business. that service, us certainly, company have provides this resurgence And a reopening that good business. very nuclear very, for for has a been

back also to with as the you In well addition, benefit there's that helping in time the plant it get most see restarting plants, in order. start-up recent interest any that we up announcement on

seeing we're initiative. that So

goes This new team as of with into a cycle next-gen standpoint, plant get to construction We also specified is but course, -- specified. out reactor many small years, get many, working long from help well. providers from standpoint that the modular to

the for So business overall. less little nuclear but sure with for great material resurgence us, and a benefiting

Operator

[Operator Funds. Instructions] next take We'll Gabelli our from Bancroft with question Tony

Tony Bancroft

heading first the Max sure well Wine the the on ] [ necks I'm checks. to to task, Alex, have and Mixer deserved. you Congratulations, the very Catalina your promotion, will snap cash out

Max Mitchell

new wanted Prestige to Worldwide. ] Rich [ called start company a

Tony Bancroft

a wonderful. what great, would be Boy, it

competitors say talked know So what's company, out last look of had billion is about there And portfolio sort few -- a grown, you've I of the you is larger that about of more to you've and to you've you of next do PFT, transformational? any get over are extreme Aero you Do longer there that and for any sort some has sort you. And years, planning? to are -- or cleaning. Max. Is and the that? have sort this opportunity the you Just Does growing now into $XX large-scale I that, on that level. done think But this thoughts your term company. similar you've conversations performance any something your appropriate businesses ever the on of think

Max Mitchell

it. Tony. for really Thanks that, I appreciate

right sure. that investors. I permutations we spot. even But It's do continue clearly have scenarios. can down set takes concern well. to into Not For got teed something clearly it's that want if immediate it things we going want up to do we that assets in as way, well. to, consider, but sights on. a Whatever go the is on of any be make we've use that cash, we integrate consideration our don't to currency basis going range at our just to the we've the that mean, sense. but It's going I as we in equity through can don't strategic larger a to future, -- planning regular that say all and looked look and something sweet we we I And some -- certainly also. make something don't be not ever sense, we at also.

are opportunities and So of we those synergistic. could opportunities value to continue quite shareholder -- look some drive will larger all to continue that be to were looking at we

Operator

concludes for closing of This I Q&A floor would today's portion to remarks. the now Max call. like Mitchell to over turn the

Max Mitchell

teams our Hey, yet with operator. surprises strong even you, outperforming outside year expectations, again, another Thank well. to results that reacted incredibly with control our

our working, driving commercial that excellence is improved is growth and proved its strategy earnings team through the executing, XXXX initiatives.

balance capacity is pipeline sheet execute. full, M&A to we Our have the and

on We're well in growth positioned hugely expectations and for 'XX to forward delivering another and year. look continued successful

we forward we Florida, and look the X, Walton evening and We have Day, in holistic at Thursday, on to seeing machine in business of Investor cadence March with execution. Wednesday Crane you will discipline, strategy, where Fort our Beach, system our place and many X highlight

"Every Quincy done. great the Alex? said, or me until not my late all." it's the it father Once small, has a the day, at leave Like told it begun, task never just thing. Be Jones Right, same well great or do labor

Alejandro Alcala

Absolutely.

Max Mitchell

we Crane, adds and growth. in system this driving our business profitable up details At execution because and the that to and culture our results and knows sweat team performance outsized small

Thank you and a Crane Have and your all in morning. this for your day. time great interest attention

Operator

today's Conference time, disconnect concludes Please This you. and a Earnings Call. Crane wonderful your Thank have XXXX line Fourth day. Company Full Year at Quarter and this

Crane (CR) 28 Jan 252024 Q4 Earnings call transcript