Crane Company (NYSE:CR) Q2 2023 Earnings Call Transcript July 26, 2023 10:00 AM ET

Company Participants

Jason Feldman - Vice President of Treasury & Investor Relations

Max Mitchell - President, CEO and Director

Rich Maue - Executive VP and CFO

Conference Call Participants

Matt Summerville - D.A. Davidson

Damian Karas - UBS

Nathan Jones - Stifel

Operator

Good morning, and welcome to the Crane Company Second Quarter 2023 Earnings Call. At this time, all participants are in a listen-only mode. The question and answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.

At this time, I would like to hand the call over to Jason Feldman, Vice President of Treasury and Investor Relations. Thank you. You may begin.

Jason Feldman

Thank you, operator. And good day, everyone. Welcome to our second quarter 2023 earnings release conference call. I'm Jason Feldman, Vice President of Treasury and Investor Relations. On our call this morning, we have Max Mitchell, our President and Chief Executive Officer; and Rich Maue, our Executive Vice President and Chief Financial Officer.

We will start off the call with a few prepared remarks, after which we will respond to questions.

Just a reminder that the comments we make on this call may include some forward-looking statements. We refer you to the cautionary language at the bottom of our earnings release and also in our annual report, 10-K and subsequent filings pertaining to forward-looking statements. Also during the call, we will be using some non-GAAP numbers, which are reconciled to the comparable GAAP numbers in tables at the end of our press release and accompanying slide presentation, both of which are available on our website at www.craneco.com in the Investor Relations section.

Now let me turn the call over to Max.

Max Mitchell

Thank you, Jason. And good morning, everyone. Thanks for joining the call today. First of all, I would like to acknowledge the sad news that my predecessor and CEO of Crane from 2000 to 2014, Mr. Eric Fast passed on July 15. Suffice it to say, I would not be here at Crane or in my present position, if not for Eric. Eric drove the vision of moving Crane from a holding company to an integrated operating company.

Eric cultivated the beginnings of the Crane Business System created larger business units and restructured Crane for success. All of which helped enable the strategic actions and value creation we have delivered on over the last several years. For those who remember, Eric, he was a wonderful leader and man who care deeply for our associates, always upbeat and positive and even the most difficult circumstances. Eric was someone I learned from and tried to emulate to the best of my ability. Above at all, Eric was a deeply loving family man who always emphasize the importance of personal focus and balance for all associates in addition to a passion for the customer and driving growth and results.