Crane Company Reports Second Quarter 2025 Results and Raises Full Year Adjusted EPS Guidance

About this update from Crane Company

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Demand trends across our strategic growth platforms remained strong in the quarter, with 19.6% year-over-year core order growth and 18.2% year-over-year core backlog growth.","length":518,"tagName":"p"},{"type":"text","content":""The strength of our underlying businesses, our strategy, and our capabilities in both operational execution and commercial excellence, coupled with a strong balance sheet, positions us extremely well to continue driving above market growth organically and complemented by acquisitions.","length":291,"tagName":"p"},{"type":"text","content":""Additionally, during the second quarter, as previously announced, we signed an agreement to acquire PSI from Baker Hughes. This acquisition adds highly sophisticated sensor-based technologies to our portfolio for mission critical applications in harsh and hazardous environments across aerospace, nuclear, and process markets. We believe that PSI’s capabilities and market positions, paired with our operational and commercial capabilities, create a highly compelling value creation opportunity for our shareholders. We are incredibly excited about this pending acquisition that is expected to close at year-end, and integration planning is well underway and progressing smoothly. We also remain well positioned to execute our disciplined and process-driven capital deployment strategy with further balance sheet optionality and a robust funnel of acquisition opportunities.","length":880,"tagName":"p"},{"type":"text","content":""Overall, our teams continue to execute extremely well. While the macroeconomic backdrop remains unpredictable, our backlog, consistently strong execution, along with our performance year-to-date, gives us the confidence to raise our full-year adjusted earnings outlook to a range of $5.50-$5.80, up from our prior view of $5.30-$5.60."","length":346,"tagName":"p"},{"type":"readMore"},{"type":"text","content":" Second Quarter 2025 Results ","length":27,"tagName":"p"},{"type":"text","content":"Second quarter 2025 GAAP EPS from continuing operations of $1.37 compared to $1.14 in the second quarter of 2024. Second quarter 2025 adjusted EPS from continuing operations of $1.49 compared to $1.20 in the second quarter of 2024.","length":231,"tagName":"p"},{"type":"text","content":"Second quarter sales increased 9.2%, with 6.5% core sales growth, a 1.8% contribution from acquisitions, and a 0.9% benefit from foreign exchange. Operating profit of $102.9 million increased 15.2% compared to last year, and adjusted operating profit of $109.3 million increased 14.7% compared to last year, in both cases primarily reflecting the impact of higher productivity.","length":377,"tagName":"p"},{"type":"text","content":" Summary of Second Quarter 2025 Results ","length":38,"tagName":"p"},{"type":"table","headerItems":[],"items":[{"val":[{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:48%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"3","rowspan":"1","style":"vertical-align:bottom;background-color:#CCEEFF;padding-left:0.0px;","val":[{"type":"text","content":"Second 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see the attached Non-GAAP Financial Measures tables","length":59,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"3","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"3","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"2","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"1","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;width:1%;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]},{"colspan":"2","rowspan":"1","style":"vertical-align:bottom;padding-left:0.0px;","val":[{"type":"text","content":" ","length":6,"tagName":"p","attribs":{}}]}]}],"length":853},{"type":"text","content":"Sales of $319.0 million increased 7.2% compared to the prior year, driven by 2.6% core sales growth, a 3.2% contribution from the previously announced CryoWorks and Technifab acquisitions, and a 1.4% benefit from favorable foreign exchange. Operating profit margin of 20.0% was flat compared to the prior year. Adjusted operating profit margin was 20.7% up 20 basis points compared to a year ago primarily due to productivity. Process Flow Technologies order backlog was $403.1 million as of June 30, 2025 compared to $389.9 million as of March 31, 2025, and $399.9 million as of June 30, 2024.","length":594,"tagName":"p"},{"type":"text","content":" Raising 2025 Guidance ","length":21,"tagName":"p"},{"type":"text","content":"We are raising our full-year adjusted EPS outlook range to $5.50-$5.80, up from $5.30 to $5.60, and up 16% at the mid-point over 2024.","length":134,"tagName":"p"},{"type":"text","content":"Key assumptions for our guidance include:","length":41,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Total sales growth of approximately 6.5% (up from approximately 5%), driven by core sales growth of approximately 4% to 6%.","length":123,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted segment operating margin of 22.5%+ (unchanged).","length":56,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Corporate cost of $80 million (unchanged).","length":42,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Net non-operating income of $4 million (up from a $10 million expense).","length":71,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Adjusted tax rate of 23.5% (unchanged).","length":39,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Diluted shares of ~59 million (unchanged).","length":42,"tagName":"p","attribs":{}}]}],"tagName":"ul","bulletedList":true,"length":373,"olType":false},{"type":"text","content":"Additional details of our outlook and guidance are included in the presentation that accompanies this earnings release available on our website at www.craneco.com in the "investors" section.","length":200,"tagName":"p"},{"type":"text","content":" Declaring Third Quarter Dividend ","length":32,"tagName":"p"},{"type":"text","content":"Crane announced its regular quarterly dividend of $0.23 per share for the third quarter of 2025. The dividend is payable on September 10, 2025 to shareholders of record as of August 29, 2025.","length":191,"tagName":"p"},{"type":"text","content":" Additional Information ","length":22,"tagName":"p"},{"type":"text","content":"References to changes in "core sales" or "core sales growth" in this report include the change in sales excluding the impact of foreign currency translation and acquisitions and divestitures from closing up to the first anniversary of such acquisitions or divestitures.","length":289,"tagName":"p"},{"type":"text","content":" Conference Call ","length":15,"tagName":"p"},{"type":"text","content":"Crane has scheduled a conference call to discuss the second quarter financial results on Tuesday, July 29, 2025 at 10:00 A.M. (Eastern). All interested parties may listen to a live webcast of the call at www.craneco.com . An archived webcast will also be available to replay this conference call directly from the Company’s website under Investors, Events & Presentations. Slides that accompany the conference call will be available on the Company’s website.","length":461,"tagName":"p"},{"type":"text","content":" About Crane Company ","length":19,"tagName":"p"},{"type":"text","content":"Crane Company has delivered innovation and technology-led solutions for customers since its founding in 1855. Today, Crane is a leading manufacturer of highly engineered components for challenging, mission-critical applications focused on the aerospace, defense, space and process industry end markets. The Company has two strategic growth platforms: Aerospace & Electronics and Process Flow Technologies. Crane has approximately 7,500 employees in the Americas, Europe, the Middle East, Asia and Australia. Crane Company is traded on the New York Stock Exchange (NYSE: CR). For more information, visit www.craneco.com .","length":623,"tagName":"p"},{"type":"text","content":" Forward-Looking Statements Disclaimer ","length":37,"tagName":"p"},{"type":"text","content":" This press release contains forward-looking statements within the meaning of the federal securities laws. Forward-looking statements include all statements that are not historical statements of fact and those regarding our intent, belief, or expectations, including, but not limited to: benefits and synergies of the separation transaction; strategic and competitive advantages of Crane; future financing plans and opportunities; and business strategies, prospects and projected operating and financial results. We caution investors not to place undue reliance on any such forward-looking statements. ","length":600,"tagName":"p"},{"type":"text","content":" These statements are based on management’s current expectations and beliefs and are subject to a number of risks and uncertainties that could lead to actual results differing materially from those projected, forecasted or expected. Although we believe that the assumptions underlying the forward-looking statements are reasonable, we can give no assurance that our expectations will be attained. ","length":395,"tagName":"p"},{"type":"text","content":" Risks and uncertainties that could cause actual results to differ materially from our expectations include, but are not limited to: changes in global economic conditions (including inflationary pressures and new tariffs) and geopolitical risks, including macroeconomic fluctuations that may harm our business, results of operation and stock price; information systems and technology network failures and breaches in data security, theft of personally identifiable and other information, non-compliance with our contractual or other legal obligations regarding such information; our ability to source components and raw materials from suppliers, including disruptions and delays in our supply chain; demand for our products, which is variable and subject to factors beyond our control; governmental regulations and failure to comply with those regulations; fluctuations in the prices of our components and raw materials; loss of personnel or being unable to hire and retain additional personnel needed to sustain and grow our business as planned; risks from environmental liabilities, costs, litigation and violations that could adversely affect our financial condition, results of operations, cash flows and reputation; risks associated with conducting a substantial portion of our business outside the U.S.; being unable to identify or complete acquisitions, or to successfully integrate the businesses we acquire, or complete dispositions; adverse impacts from intangible asset impairment charges; potential product liability or warranty claims; being unable to successfully develop and introduce new products, which would limit our ability to grow and maintain our competitive position and adversely affect our financial condition, results of operations and cash flow; significant competition in our markets; additional tax expenses or exposures that could affect our financial condition, results of operations and cash flows; inadequate or ineffective internal controls; specific risks relating to our reportable segments, including Aerospace & Electronics, and Process Flow Technologies; the ability and willingness of Crane Company and Crane NXT, Co. to meet and/or perform their obligations under any contractual arrangements that were entered into among the parties in connection with the separation transaction and any of their obligations to indemnify, defend and hold the other party harmless from and against various claims, litigation and liabilities; and the ability to achieve some or all the benefits that we expect to achieve from the separation transaction. ","length":2579,"tagName":"p"},{"type":"text","content":" Readers should carefully review Crane’s financial statements and the notes thereto, as well as the section entitled "Risk Factors" in Item 1A of Crane’s Annual Report on Form 10-K for the year ended December 31, 2024 and the other documents Crane files from time to time with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Crane assumes no (and disclaims any) obligation to revise or update any forward-looking statements. ","length":588,"tagName":"p"},{"type":"text","content":" We make no representations or warranties as to the accuracy of any projections, statements or information contained in this press release. It is understood and agreed that any such projections, targets, statements and information are not to be viewed as facts and are subject to significant business, financial, economic, operating, competitive and other risks, uncertainties and contingencies many of which are beyond our control, that no assurance can be given that any particular financial projections ranges, or targets will be realized, that actual results may differ from projected results and that such differences may be material. While all financial projections, estimates and targets are necessarily speculative, we believe that the preparation of prospective financial information involves increasingly higher levels of uncertainty the further out the projection, estimate or target extends from the date of preparation. The assumptions and estimates underlying the projected, expected or target results are i...

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