Second Quarter 2026 Highlights

• Earnings per diluted share (EPS) from continuing operations of $1.63, up 19% compared to a year ago, and adjusted EPS from continuing operations a record $1.79, up 18%.
• Total sales of $724.7 million increased 25.6% compared to the prior year, including 5.2% core growth.
• Continued strong broad-based demand at Aerospace & Advanced Technologies (AAT) with 13.3% core sales growth together with record backlog of $1.27 billion, up 11% year-over-year on a core basis.
• Total company core backlog increased 5% sequentially, up 7% and 2% sequentially for AAT and Process Flow Technologies (PFT), respectively.
• Operating margin of 19.9%, up 210bps compared to a year ago, and record adjusted operating margin of 21.3%, up 180bps year-over-year.
• Acquisitions performing ahead of expectations, delivering stronger growth and margin expansion.
• Declaring third quarter 2026 regular dividend of $0.255 per share.

Full Year Outlook

• Raising full year adjusted EPS outlook to a range of $6.85-$7.05 from $6.65-$6.85.

Crane Company ("Crane," NYSE: CR) today announced its financial results for the second quarter of 2026 and raised its full year adjusted EPS outlook.

Alex Alcala, Crane's President and Chief Executive Officer, stated: "We delivered record quarterly results which exceeded our expectations, reflecting strong execution across the company. Aerospace & Advanced Technologies generated better-than-expected growth, demand at Process Flow Technologies remained stable, and all four recent acquisitions are performing ahead of plan. Combined with 5% core sales growth and strong operating leverage across all businesses, these results underscore the quality of our portfolio and the effectiveness of our operating model.

As we look ahead, we remain confident in our ability to continue to drive significant shareholder value by outgrowing our markets, driving further margin expansion, and deploying capital to acquire businesses that enhance our portfolio. Based on our strong performance and outlook for the remainder of the year, we are increasing our full year adjusted EPS guidance to a range of $6.85-$7.05.”

Second Quarter 2026 Results

Second quarter 2026 GAAP EPS from continuing operations of $1.63 compared to $1.37 in the second quarter of 2025. Second quarter 2026 adjusted EPS from continuing operations of $1.79 compared to $1.52 in the second quarter of 2025.

Second quarter sales increased 25.6% year-over-year, with 5.2% core sales growth, a 19.8% contribution from acquisitions and a 0.6% benefit from foreign exchange. Operating profit of $144.3 million increased 40.2% compared to last year, reflecting strong operating performance across the business. Adjusted operating profit of $154.3 million increased 37.3%.

Note that adjusted EPS and adjusted operating profit excludes all benefit from tariff recoveries. (Please see the attached non-GAAP Financial Measures tables.)

Summary of Second Quarter 2026 Results

Cash Flow, Financing Activities and Other Financial Metrics

During the second quarter of 2026, cash generated from operating activities from continuing operations was $122.3 million, capital expenditures were $14.6 million, and free cash flow (cash provided by operating activities less capital expenditures) was $107.7 million. Adjusted free cash flow from continuing operations was $116.3 million. (Please see the attached non-GAAP Financial Measures tables.)

As of June 30, 2026, the Company's cash balance was $350.4 million with total debt outstanding of $1,098.4 million. Subsequent to quarter-end, the company repaid an additional $90 million of debt.

Second Quarter 2026 Segment Results

All comparisons detailed in this section refer to operating results for the second quarter 2026 versus the second quarter 2025.

Aerospace & Advanced Technologies

Sales of $339.1 million increased 31.3% compared to the prior year, driven by 13.3% core sales growth, a 17.8% contribution from the acquisition of Druck, and a 0.2% benefit from favorable foreign exchange. Operating profit margin of 26.2% declined 10 basis points year-over-year, primarily reflecting favorable net price, higher volumes and tariff recoveries, offset by the expected dilution from Druck. Adjusted operating profit margin of 25.8% declined 80 basis points compared to a year ago, primarily reflecting favorable net price and higher volumes that were more than offset by the expected dilution from Druck.

Process Flow Technologies

Sales of $385.6 million increased 20.9% compared to the prior year primarily driven by a 21.5% contribution from the previously announced acquisitions of optek-Danulat, Panametrics, and Reuter-Stokes, and a 0.8% benefit from favorable foreign exchange offset by a 1.4% core sales decline. Operating profit margin of 21.2% expanded 120bps compared to the prior year reflecting strong productivity and tariff recoveries, partially offset by lower volumes and the expected dilution from the acquisitions. Adjusted operating profit margin was 22.2%, up 80 basis points compared to a year ago, reflecting strong productivity, partially offset by lower volumes and the expected dilution from the acquisitions.

Raising 2026 Guidance

We are raising our full year adjusted EPS outlook to $6.85-$7.05 from $6.65-$6.85.

Key assumptions for our guidance:

• Total sales are now expected to grow in the mid-20% range, up from our prior guidance of low-to-mid-20%, driven by acquisitions and core sales growth of 5-6%, which is now expected to be at the high end of our prior 4-6% guidance range.
• Adjusted segment operating margin of 23.0%+, up from our prior view of ~23.0%.
• Corporate cost of approximately $80-$85 million.
• Net non-operating expense of approximately $58 million.
• Adjusted tax rate of approximately 23.0%.
• Diluted shares of ~59 million.

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 Third Quarter Dividend

Crane announced its regular quarterly dividend of $0.255 per share for the third quarter of 2026. The dividend is payable on September 9, 2026 to shareholders of record as of August 31, 2026.

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.

References to changes in “core backlog” or "core backlog growth" in this report include the change in backlog 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 second quarter financial results on Wednesday, July 29, 2026 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 & Advanced Technologies and Process Flow Technologies. Crane has approximately 8,300 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 Druck, Panametrics and Reuter-Stokes, and optek-Danulat acquisitions; 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 tariffs) and geopolitical risks, including macroeconomic fluctuations that may harm our business, results of operation and stock price; being unable to identify or complete acquisitions, or to successfully integrate the businesses we acquire, or complete dispositions; 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.; 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 & Advanced Technologies, 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, 2025 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. The forward-looking statements contained in this press release are made as of the date hereof, and 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)

Source: Crane Company