Item 5. Market for Registrant’s Common Equity
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities
Market Information
Crane Holdings, Co. common stock is traded on the New York Stock Exchange (“NYSE”) under the symbol "CR". As of December 31, 2022, there were 1,623 holders of record of Crane Holdings, Co. common stock.
Stock Performance Graph
The following chart compares the total stockholder returns (stock price increase plus reinvested dividends) on our common stock from December 31, 2017 through December 31, 2022 with the total stockholder returns for the S&P 500 Index and the S&P MidCap Capital Goods Index. The graph assumes that the value of the investment in the common stock and each index was $100 on December 31, 2017 and that all dividends were reinvested.
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Purchases of Equity Securities
On October 25, 2021, the Company announced that its Board of Directors authorized the Company to purchase up to $300 million of its common stock through a share repurchase program (the “Program”) that calls for shares to be purchased in the open market from time-to-time at prevailing prices in accordance with federal securities laws. All remaining availability under the Program as of March 31, 2022 was repurchased in April 2022 prior to the Program expiring on April 22, 2022. We did not make any open-market share repurchases of our common stock during the remainder of 2022. We routinely receive shares of our common stock as payment for stock option exercises and the withholding taxes due on stock option exercises and the vesting of restricted share units from stock-based compensation program participants.
Equity Compensation Plans
For information regarding equity compensation plans, see Item 12 of this annual report on Form 10-K.
Item 6. Supplementary Financial Information
(in millions, except per share data)
For year ended December 31, First Quarter Second Quarter Third Quarter Fourth Quarter Full Year
2022
Net sales $ 871.4 $ 864.3 $ 815.1 $ 824.1 $ 3,374.9
Cost of sales 526.1 535.7 485.6 487.7 2,035.1
Gross profit 345.3 328.6 329.5 336.4 1,339.8
Operating profit (loss) 147.0 124.4 (31.2) 129.3 369.5
Net income (loss) attributable to common shareholders 105.0 258.2 (59.3) 97.2 401.1
Basic earnings (loss) per share $ 1.84 $ 4.60 $ (1.06) $ 1.73 $ 7.11
Diluted earnings (loss) per share $ 1.81 $ 4.54 $ (1.06) $ 1.71 $ 7.01
2021
Net sales $ 833.5 $ 855.5 $ 893.8 $ 825.2 $ 3,408.0
Cost of sales 513.6 523.5 556.4 526.8 2,120.3
Gross profit 319.9 332.0 337.4 298.4 1,287.7
Operating profit 146.6 144.5 144.8 93.3 529.2
Net income attributable to common shareholders 108.4 138.3 116.6 72.1 435.4
Basic earnings per share $ 1.86 $ 2.36 $ 1.99 $ 1.25 $ 7.46
Diluted earnings per share $ 1.84 $ 2.33 $ 1.96 $ 1.22 $ 7.36
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MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS