Crane Company Reports Third Quarter 2025 Results; Raises and Narrows Full Year Adjusted EPS Guidance Range

Third Quarter 2025 Highlights

• Earnings per diluted share (EPS) from continuing operations of $1.56, up 25%, and adjusted EPS from continuing operations of $1.64, up 27%.
• Sales of $589.2 million, up 7.5% driven by 5.6% core sales growth.
• Core order growth up 1.8% and core backlog growth up 16.4%, driven primarily by ongoing strength at Aerospace & Electronics.
• Declaring fourth quarter 2025 regular dividend of $0.23 per share.

Full Year Outlook

• Raising and narrowing our full-year adjusted EPS outlook range to $5.75-$5.95 from prior range of $5.50-$5.80, reflecting 20% year-over-year adjusted EPS growth at the midpoint.

STAMFORD, Conn.–(BUSINESS WIRE)–Crane Company (“Crane,” NYSE:CR) today announced its financial results for the third quarter of 2025 and raised and narrowed its full-year adjusted EPS outlook.

Max Mitchell, Crane’s Chairman, President and Chief Executive Officer, stated: “We are proud to report another strong quarter, with adjusted EPS up 27% and core sales growth of 5.6%. This quarter’s earnings performance was ahead of our expectations, and further highlights our differentiated technology, commercial excellence focus and consistent operational discipline.

“We continue to see market outgrowth in Aerospace & Electronics providing us strong visibility into 2026 and beyond, while demand trends within Process Flow Technologies remain generally stable. Overall, we are encouraged by our core backlog growth of 16.4% compared to last year and remain focused on converting our pipeline of opportunities and maintaining momentum.

“This was yet another quarter where our global teams delivered strong operational results across the board. We also made great progress with our pending acquisition of Precision Sensors & Instrumentation (“PSI”) that remains on track to close at year end. As we look to close out 2025, our robust backlog, consistent execution, and solid year-to-date performance give us the confidence to raise and narrow our full-year adjusted earnings guidance to a range of $5.75-$5.95, up from our prior view of $5.50-$5.80.”

Third Quarter 2025 Results

Third quarter 2025 GAAP EPS from continuing operations of $1.56 compared to $1.25 in the third quarter of 2024. Third quarter 2025 adjusted EPS from continuing operations of $1.64 compared to $1.29 in the third quarter of 2024.

Third quarter sales increased 7.5%, with 5.6% core sales growth, a 0.9% contribution from the previously announced Technifab acquisition, and a 1.0% benefit from foreign exchange. Operating profit of $118.4 million increased 19.6% compared to last year and adjusted operating profit of $122.1 million increased 18.8% compared to last year, in both cases primarily reflecting continued strong net price and the impact of higher productivity.

Summary of Third Quarter 2025 Results

Cash Flow, Financing Activities and Other Financial Metrics

During the third quarter of 2025, cash generated from operating activities from continuing operations was $130.2 million, capital expenditures were $13.4 million, and free cash flow (cash provided by operating activities less capital spending) was $116.8 million. Adjusted free cash flow from continuing operations (free cash flow excluding transaction related cash outflows) was $118.9 million. (Please see the attached non-GAAP Financial Measures tables.)

As of September 30, 2025, the Company’s cash balance was $388.2 million with no debt outstanding, reflecting the prepayment of our former term loan in the quarter.

Rich Maue, Crane’s Executive Vice President and Chief Financial Officer, added: “At the end of the quarter, we entered into a credit agreement that included a $900 million delayed draw term loan facility and a $900 million revolving credit facility, both maturing on September 30, 2030. The credit agreement locks in the required financing for our acquisition of PSI, as well as providing significant financial flexibility for further M&A. Upon close of the PSI acquisition, we estimate that Crane will have a net debt to adjusted EBITDA ratio of roughly 1x, with the substantial majority of our new revolving credit facility available for additional transactions that we expect to materialize from our active pipeline of opportunities across both Aerospace & Electronics and Process Flow Technologies.”

Third Quarter 2025 Segment Results

All comparisons detailed in this section refer to operating results for the third quarter 2025 versus the third quarter 2024.

Aerospace & Electronics

Sales of $270.2 million increased 13.0% compared to the prior year, driven by 12.8% core sales growth and a slight benefit from favorable foreign exchange. The strength was driven primarily by the segment’s aftermarket, up 20% in the quarter. Operating profit margin of 25.1% increased 210 basis points from last year, primarily reflecting the impact of the higher volumes, strong net price and productivity. Adjusted operating profit margin of 25.1% increased 160 basis points from last year. Aerospace & Electronics’ order backlog was $1,054.1 million as of September 30, 2025 compared to $1,052.8 million as of June 30, 2025, and $833.3 million as of September 30, 2024.

Process Flow Technologies

Sales of $319.0 million increased 3.2% compared to the prior year, primarily driven by a 1.6% contribution from the previously announced Technifab acquisition, and a 1.6% benefit from favorable foreign exchange. Operating profit margin of 22.2% increased 100bps compared to the prior year. Adjusted operating profit margin was 22.4%, up 60 basis points compared to a year ago primarily due to productivity, a favorable mix, and solid net price. Process Flow Technologies order backlog was $383.0 million as of September 30, 2025 compared to $403.1 million as of June 30, 2025, and $392.0 million as of September 30, 2024.

Raising and Narrowing 2025 Guidance Range

We are raising and narrowing our full-year adjusted EPS outlook range to $5.75-$5.95, up from $5.50 to $5.80, and up 20% at the midpoint over 2024.

Key assumptions for our guidance include:

• Total sales growth of approximately 7.5% (up from approximately 6.5%), driven by core sales growth now at the higher end of our 4% to 6% range.
• Adjusted segment operating margin of 22.5%+ (unchanged).
• Corporate cost of $85 million (up from $80 million).
• Net non-operating income of $7 million (up from $4 million).
• Adjusted tax rate of 23.0% (down from 23.5%).
• Diluted shares of ~59 million (unchanged).

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.

Declaring Fourth Quarter Dividend

Crane announced its regular quarterly dividend of $0.23 per share for the fourth quarter of 2025. The dividend is payable on December 10, 2025 to shareholders of record as of November 28, 2025.

Additional Information

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, as well as acquisitions and divestitures from the date of closing up to the first anniversary of such acquisitions or divestitures.

Conference Call

Crane has scheduled a conference call to discuss the third quarter financial results on Tuesday, October 28, 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.

About Crane Company

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.

Forward-Looking Statements Disclaimer

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.

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.

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.

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.

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 inherently uncertain and are subject to a wide variety of significant business, economic and competitive risks and uncertainties that could cause actual results to differ materially from those contained in the financial projections, estimates and targets. The inclusion of financial projections, estimates and targets in this press release should not be regarded as an indication that we or our representatives, considered or consider the financial projections, estimates and targets to be a reliable prediction of future events.

(Financial Tables Follow)

^{(a) Includes $7.3 million, $8.2 million, $9.3 million and $10.4 million of backlog as of September 30,2025, June 30, 2025, March 31, 2025 and December 31, 2024, respectively, pertaining to the Technifab acquisition.}

Contacts

Jason D. Feldman

Senior Vice President, Investor Relations, Treasury & Tax

Allison Poliniak-Cusic

Vice President, Investor Relations

[email protected]
www.craneco.com

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