{"id":4891,"date":"2022-10-27T00:00:00","date_gmt":"2022-10-27T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/america\/crane-co-slips-to-3q-loss-amid-legacy-asbestos-biz-costs\/"},"modified":"2022-10-27T00:00:00","modified_gmt":"2022-10-27T00:00:00","slug":"crane-co-slips-to-3q-loss-amid-legacy-asbestos-biz-costs","status":"publish","type":"america","link":"https:\/\/www.mundovideo.com.co\/en\/america\/crane-co-slips-to-3q-loss-amid-legacy-asbestos-biz-costs\/","title":{"rendered":"Crane Co slips to 3Q loss amid legacy asbestos biz costs"},"content":{"rendered":"<p><span style=\"font-family:Times New Roman,serif\"><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Rich Maue, Crane Holdings&rsquo; senior vice president and chief financial officer, gave some commentary on the plan announced in March to split off from the main group and separately list, the payment and merchandising technologies business, as &ldquo;Crane NXT&rdquo;.<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family:Times New Roman,serif\"><span style=\"color:#000000\"><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Crane Holdings Co, it&acute;s a provider of products and services to sectors including cash handling in the casino industry, slipped to a net loss of US$59.3 million, compared to US$116.6-million net income in the same quarter a year earlier. In the second quarter this year, Crane had produced US$280.5-millon in net income.<\/span><\/span><\/span><\/span><\/p>\n<p><span style=\"color:#000000\">&ldquo;<span style=\"font-family:Times New Roman,serif\"><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Third quarter 2022 GAAP net loss per share of US$1.06 included an <\/span><\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">after-tax loss of US$162 million, or US$2.89 per share, on the August divestiture of asbestos-related assets and liabilities and other special items,&rdquo; said the group in a press release issued on Monday, and referring to generally-accepted accounting principles (GAAP).<\/span><\/span><\/span><\/p>\n<p><span style=\"font-family:Times New Roman,serif\"><span style=\"font-family:Arial,serif\"><span style=\"font-size:x-large\">Quarterly net sales in the payment and merchandising technologies segment narrowed by 8.4 percent year-on-year, to US$335.1 million. <\/span><\/span><\/span><\/p>\n<p><span style=\"font-family:Times New Roman,serif\"><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">The segment represented the group&rsquo;s highest single source of net sales in the three months to September 30. The next highest was process flow technologies, with US$250.0 million in net sales; then aerospace and electronics, with US$167.2 million; and finally engineered materials with US$62.8 million.<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rich Maue, Crane Holdings\u2019 senior vice president gave some commentary : in March to split off from the main group and separately list, the payment and merchandising technologies business, as \u201cCrane NXT\u201d.<\/p>\n","protected":false},"author":1,"featured_media":4892,"menu_order":377,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[2063,2062,2064],"class_list":["post-4891","america","type-america","status-publish","format-standard","has-post-thumbnail","tag-bill-validators","tag-crane-holdings-co","tag-mei-bv","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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