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  4. [8-K] Crane Co Reports Material Event

Crane Co raises 2026 adjusted EPS outlook to $7.23-$7.38

The revised full-year adjusted EPS range is $7.23-$7.38, while two portfolio transactions remain subject to customary approvals.

Filing Impact
(High)
Filing Sentiment

Sentiment and the balance of points

Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.

How Sentiment worksHow the balance works

Form Type
8-K

Rhea-AI Filing Summary

Crane Company (CR) reported third-quarter 2026 sales of $754.6 million, up 28.1% year over year, with core sales growth of 7.7% and a 21.1% contribution from acquisitions, partly offset by a 0.4% foreign-exchange headwind. GAAP EPS from continuing operations was $1.66, up 6%; adjusted EPS was a record $2.05, up 23%. Adjusted operating profit reached $169.9 million, up 35.8%, while GAAP operating margin fell 150 basis points to 18.6%. AAT core sales grew 9.5%; PFT grew 6.2%, and PFT core orders rose 19.7%.

Crane raised and narrowed full-year adjusted EPS guidance to $7.23-$7.38 from $6.85-$7.05. The company generated $128.4 million of operating cash flow from continuing operations and $116.3 million of free cash flow during the quarter. It agreed to sell its UK-based Crane Building Services & Utilities business for £230 million, with closing expected early in 2027. The sale and its agreement to acquire Trillium Flow Technologies' U.S. water/wastewater pump business are subject to customary approvals; the acquisition is expected to close in Q4. Crane declared a fourth-quarter 2026 dividend of $0.255 per share, payable December 9, 2026 to shareholders of record November 30, 2026.

2 points · 1 major

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Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

How the balance worksHow Sentiment works

0 major · 0 points

Hollow bars mark forward-looking points. How the balance works

Positive

  • Major point. Forward-looking: it has not happened yet and may not happen.Adjusted EPS rose 23% to $2.05; full-year guidance is $7.23-$7.38.
  • Moderate pointSales rose 28.1% to $754.6 million year over year.

Negative

  • None.

Filing Explained

Alongside the third-quarter results, Crane’s September 30 balance sheet reports $315.7 million of cash and $928.5 million of total debt, adding a dated snapshot of its cash and borrowings.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, or exhibit attachments filed with this report.
Sales $754.6 million Third quarter 2026; up 28.1% year over year
GAAP EPS from continuing operations $1.66 per diluted share Third quarter 2026; up 6% year over year
Adjusted EPS from continuing operations $2.05 per diluted share Third quarter 2026; up 23% year over year
Operating profit $140.6 million Third quarter 2026; up 18.8% year over year
Adjusted operating profit $169.9 million Third quarter 2026; up 35.8% year over year
Operating profit margin 18.6% Third quarter 2026; down 150 basis points from 20.1%
Full-year adjusted EPS outlook $7.23-$7.38 Raised from $6.85-$7.05
Core sales growth financial
"core sales growth of 7.7%"
Core sales growth measures how a company’s regular, ongoing revenue changes over time after removing one-off or temporary effects such as large acquisitions, divestitures, major currency swings, or discontinued product lines. Think of it as the temperature of the business itself rather than the weather — it shows whether underlying customer demand is rising or falling, which helps investors judge the durability of revenue and compare performance across periods or peers.
Adjusted EPS financial
"adjusted EPS from continuing operations a record $2.05"
Adjusted earnings per share (adjusted eps) is a measure of a company's profit per share that has been modified to exclude certain one-time or unusual items, such as costs from restructuring or asset sales. It provides a clearer picture of the company’s core performance by removing events that may distort the usual earnings. Investors use adjusted eps to better understand a company's ongoing profitability and compare it more accurately over time.
Adjusted operating profit margin financial
"record adjusted operating margin of 22.5%"
Adjusted operating profit margin measures the share of each dollar of sales a company keeps from its core business after removing the effects of one-time or non-recurring items (for example, unusual charges or gains). It matters to investors because it shows the underlying efficiency and profitability of ongoing operations—like checking a car’s fuel efficiency after excluding rare detours—making results easier to compare across periods and companies.
Free cash flow financial
"free cash flow (cash provided by operating activities less capital expenditures)"
Free cash flow is the amount of money a company has left over after paying all its expenses and investing in its business, like buying equipment or updating facilities. It shows how much cash is available to reward shareholders, pay down debt, or save for future growth. This helps investors understand if a company is financially healthy and able to grow.
Tariff recovery adjustment financial
"Tariff recovery adjustment"
Sales $754.6 million up 28.1% year over year
GAAP EPS from continuing operations $1.66 per diluted share up 6% year over year
Adjusted EPS from continuing operations $2.05 per diluted share up 23% year over year
Operating profit $140.6 million up 18.8% year over year
Adjusted operating profit $169.9 million up 35.8% year over year
Guidance

Full-year adjusted EPS outlook raised and narrowed to $7.23-$7.38 from $6.85-$7.05.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much revenue did CR report in the third quarter of 2026?
Crane reported $754.6 million in third-quarter 2026 sales, up 28.1% year over year. Growth included 7.7% core sales growth and a 21.1% acquisition contribution, partly offset by a 0.4% foreign-exchange headwind.

What is Crane's updated 2026 adjusted EPS guidance?
Crane raised and narrowed its full-year adjusted EPS outlook to $7.23-$7.38 from $6.85-$7.05. Total sales are expected to increase approximately 26% at the midpoint, with core sales growth and acquisition contributions expected at the high end of previous ranges of 5% to 6% and 18% to 20%, respectively.

What are the terms and expected timing of Crane's announced portfolio transactions?
Crane agreed to sell its UK-based Crane Building Services & Utilities business for £230 million, with closing expected early in 2027. The agreement and the acquisition agreement for Trillium Flow Technologies' U.S. water and wastewater pump business are subject to customary approvals; the acquisition is expected to close in Q4.

How does Crane define core sales growth?
Crane defines core sales growth as the change in sales excluding foreign currency translation, acquisitions and divestitures from closing up to the first anniversary, and certain other special items.

What were Crane's cash and debt balances as of September 30, 2026?
Crane reported a $315.7 million cash balance and $928.5 million of total debt outstanding as of September 30, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR Accepted by SEC EDGAR
0001944013false00019440132026-10-272026-10-27

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549

 FORM 8-K

 CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 27, 2026
CRANE COMPANY
(Exact name of registrant as specified in its charter)
DELAWARE
(State or other jurisdiction of incorporation)
Delaware
1-41570
88-2846451
(State or other jurisdiction of incorporation or organization)
(Commission File Number)
(I.R.S. Employer Identification No.)
100 First Stamford Place
Stamford
CT
06902
(Address of Principal Executive Offices)
(Zip Code)
Registrant’s telephone number, including area code: 203-363-7300
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of each classTrading SymbolName of each exchange on which registered
Common Stock, par value $1.00 CRNew York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

1

SECTION 2 – FINANCIAL INFORMATION
Item 2.02Results of Operations and Financial Condition.
On October 27, 2026, Crane Company (the “Company”) announced its results of operations for the quarter ended September 30, 2026. The related press release and quarterly financial data supplement is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished under Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1, is not deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.


SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
Item 9.01Financial Statements and Exhibits.
(a)  None
(b)  None
(c)  None
(d)  Exhibits
99.1   
Earnings Press Release dated October 27, 2026 and Crane Company Quarterly Financial Data Supplement for the quarter ended September 30, 2026
104Cover Page Interactive Data File (embedded within the Inline XBRL document)
2

SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
CRANE COMPANY
October 27, 2026
By:/s/ Richard A. Maue
Richard A. Maue
Executive Vice President and
Chief Financial Officer


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Exhibit 99.1
crane_logox245x100a.jpg
Contact:
Allison Poliniak-Cusic
Vice President, Investor Relations
IR@craneco.com
www.craneco.com

Crane Company Reports Third Quarter 2026 Results, Raises and Narrows Full Year Adjusted EPS Guidance

Third Quarter 2026 Highlights
•Earnings per diluted share (EPS) from continuing operations of $1.66, up 6% compared to a year ago, and adjusted EPS from continuing operations a record $2.05, up 23%.
•Total sales of $754.6 million increased 28.1% compared to the prior year, driven by core growth of 7.7%, reflecting momentum at Aerospace & Advanced Technologies (AAT) with core growth of 9.5% and strengthening performance at Process Flow Technologies (PFT) with core growth of 6.2%.
•Total company core backlog increased 9% year-over-year, reflecting healthy demand across both segments, with AAT and PFT core backlog increasing 9% and 8% year-over-year, respectively.
•Operating profit increased 18.8%, and adjusted operating profit increased 35.8%, with operating margin of 18.6% down 150bps and record adjusted operating margin of 22.5% up 130bps year-over-year.
•Acquisitions completed earlier this year are performing well ahead of expectations, adding to the strong sales and margin in the third quarter and increasing accretion expected for the full year.
•Continued progress reshaping the PFT portfolio with the announcement today of an agreement to divest the UK-based Crane Building Services & Utilities business, which follows the recently announced agreement to acquire the U.S. water/wastewater pump business from Trillium Flow Technologies.
•Declaring fourth quarter 2026 regular dividend of $0.255 per share.

Full Year Outlook
•Raising and narrowing full-year adjusted EPS outlook to a range of $7.23-$7.38, from $6.85-$7.05, reflecting broad-based outperformance.

STAMFORD, CONNECTICUT - October 27, 2026 - Crane Company ("Crane," NYSE: CR) today announced its financial results for the third quarter of 2026 and raised its full-year adjusted EPS outlook.

Alex Alcala, Crane's President and Chief Executive Officer, stated: "We delivered another exceptional quarter, with strong performance across both AAT and PFT. AAT continued its strong momentum with 9.5% core sales growth, while PFT delivered 6.2% core sales growth and particularly strong core order growth of 19.7%. The strengthening performance in PFT, continued momentum in AAT, and significant outperformance from our recent acquisitions drove record adjusted EPS of $2.05, setting us up for a record full-year outlook.

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“We enter the fourth quarter with strong momentum across both segments and are increasingly well positioned as we look toward 2027. With core backlog up 9%, strong PFT order trends, sustained momentum in AAT and recent acquisitions performing significantly ahead of our expectations, we are raising and narrowing our full-year adjusted EPS guidance to $7.23-$7.38.”

Alex Alcala concluded: “At the same time, we continue to take decisive actions to improve the quality of the PFT portfolio. We recently signed an agreement to divest Crane Building Services & Utilities for £230 million. This divestiture, together with the recently announced agreement to acquire the U.S. water and wastewater pump business of Trillium Flow Technologies, represents important steps in our ongoing transformation of PFT. While Crane Building Services & Utilities is a strong business, its focus is no longer aligned with the strategic direction of our PFT portfolio. These actions further concentrate PFT around highly engineered, mission-critical products and technologies serving attractive and durable growth markets, including pharmaceuticals, water and wastewater, power, cryogenics and nuclear. Both transactions are subject to customary approvals, with the acquisition of the U.S. water and wastewater pump business of Trillium Flow Technologies expected to close in Q4 and the divestiture of Crane Building Services & Utilities expected to close early in 2027."

Third Quarter 2026 Results
Third quarter 2026 GAAP EPS from continuing operations of $1.66 compared to $1.56 in the third quarter of 2025. Third quarter 2026 adjusted EPS from continuing operations of $2.05 compared to $1.67 in the third quarter of 2025.
Third quarter 2026 sales increased 28.1% year-over-year, with 7.7% core sales growth and 21.1% contribution from acquisitions partially offset by a 0.4% headwind from foreign exchange. Operating profit of $140.6 million increased 18.8% compared to last year, reflecting strong operating performance across the business. Adjusted operating profit of $169.9 million increased 35.8%.

Note that adjusted net sales, adjusted operating profit and adjusted EPS excludes all impact from tariff recoveries. (Please see the attached non-GAAP Financial Measures tables.)
Summary of Third Quarter 2026 Results
Third QuarterChange
(unaudited, dollars in millions)20262025$%
Net sales $754.6$589.2$165.4 28.1%
Core sales45.4 7.7%
Acquisitions124.5 21.1%
Foreign exchange(2.4)(0.4%)
Tariff recovery adjustment(2.1)(0.3)%
Adjusted net sales*$756.7$589.2$167.528.4 %
Operating profit$140.6$118.4$22.2 18.8%
Adjusted operating profit*$169.9$125.1$44.8 35.8%
Operating profit margin18.6%20.1%(150bps)
Adjusted operating profit margin*22.5%21.2%130bps
*Please see the attached Non-GAAP Financial Measures tables

2

Cash Flow, Financing Activities and Other Financial Metrics
During the third quarter of 2026, cash generated from operating activities from continuing operations was $128.4 million, capital expenditures were $12.1 million, and free cash flow (cash provided by operating activities less capital expenditures) was $116.3 million. Adjusted free cash flow from continuing operations was $126.4 million. (Please see the attached non-GAAP Financial Measures tables.)
As of September 30, 2026, the Company's cash balance was $315.7 million with total debt outstanding of $928.5 million.
Third Quarter 2026 Segment Results
All comparisons detailed in this section refer to operating results for the third quarter 2026 versus the third quarter 2025.
Aerospace & Advanced Technologies
Third QuarterChange
(unaudited, dollars in millions)20262025$%
Net sales$344.1 $270.2 $73.9 27.4%
Core sales25.79.5%
Acquisitions48.4 17.9%
Foreign Exchange(0.2)—%
Operating profit$85.4 $67.7 $17.7 26.1 %
Adjusted operating profit*$90.6 $68.3 $22.3 32.7%
Operating profit margin24.8%25.1%(30bps)
Adjusted operating profit margin*26.3%25.3%100bps
*Please see the attached Non-GAAP Financial Measures tables

Sales of $344.1 million increased 27.4% compared to the prior year, driven primarily by 9.5% core sales growth and a 17.9% contribution from the acquisition of Druck. Operating profit margin of 24.8% declined 30 basis points year-over-year, primarily reflecting the expected dilution from the Druck acquisition. Adjusted operating profit margin of 26.3% expanded 100 basis points compared to a year ago, primarily reflecting the impact of the higher organic growth and strong net price, partially offset by the expected dilution from Druck.
3

Process Flow Technologies
Third QuarterChange
(unaudited, dollars in millions)20262025$%
Net sales$410.5 $319.0 $91.5 28.7%
Core sales19.7 6.2%
Acquisitions76.1 23.9%
Foreign exchange(2.2)(0.7)%
    Tariff recovery adjustment(2.1)(0.7%)
Adjusted net sales*$412.6 $319.0 93.6 29.3%
Operating profit$80.9 $70.8 $10.1 14.3%
Adjusted operating profit*$99.2 $73.9 $25.3 34.2%
Operating profit margin19.7%22.2%(250bps)
Adjusted operating profit margin*24.0%23.2%80bps
*Please see the attached Non-GAAP Financial Measures tables

Sales of $410.5 million increased 28.7% compared to the prior year and adjusted net sales increased 29.3% driven by 6.2% core sales growth and a 23.9% contribution from the previously announced acquisitions of optek-Danulat, Panametrics, and Reuter-Stokes, partially offset by unfavorable foreign exchange. Operating profit margin of 19.7% decreased 250bps compared to the prior year, primarily reflecting the expected dilution from acquisitions, inclusive of integration costs. Adjusted operating profit margin was 24.0%, up 80 basis points compared to a year ago, reflecting the impact of the higher core sales growth, higher net price, and strong productivity, partially offset by the expected operating dilution from acquisitions.

Raising 2026 Guidance

We are raising and narrowing our full-year adjusted EPS outlook to $7.23-$7.38 from $6.85-$7.05.

Key assumptions for our guidance:
•Total sales are expected to increase approximately 26% at the midpoint, supported by acquisition contributions and core sales growth that are now both expected to perform at the high end of their respective previous guidance ranges of 18% to 20% and 5% to 6%.
•Adjusted segment operating margin of approximately 24.0%, 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.

4

Declaring Fourth Quarter Dividend

Crane announced its regular quarterly dividend of $0.255 per share for the fourth quarter of 2026. The dividend is payable on December 9, 2026 to shareholders of record as of November 30, 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 and certain other special items.
References to changes in "adjusted net sales" or "adjusted net sales growth" in this report excludes the impact of tariff refunds paid to customers.
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 third quarter financial results on Wednesday, October 28, 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; the agreement to acquire the U.S. water and wastewater pump business from Trillium Flow Technologies; the agreement to divest Crane Building Services & Utilities; 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.

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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
6

CRANE COMPANY
Condensed Statements of Operations Data
(unaudited, in millions, except per share data)
Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Net sales:
Aerospace & Advanced Technologies$344.1 $270.2 $1,001.5 $777.3 
Process Flow Technologies410.5 319.0 1,174.2 946.7 
Total net sales$754.6 $589.2 $2,175.7 $1,724.0 
Operating profit:
Aerospace & Advanced Technologies$85.4 $67.7 $245.8 $200.2 
Process Flow Technologies80.9 70.8 226.7 197.5 
Corporate(25.7)(20.1)(87.5)(75.3)
Total operating profit $140.6 $118.4 $385.0 $322.4 
Interest income$1.2 $2.2 $4.9 $8.3 
Interest expense(13.7)(1.0)(47.1)(9.8)
Miscellaneous (expense) income, net(1.9)0.8 (3.5)2.9 
Income from continuing operations before income taxes126.2 120.4 339.3 323.8 
Provision for income taxes28.9 29.0 79.0 73.8 
Net income from continuing operations attributable to common shareholders97.3 91.4 260.3 250.0 
Income from discontinued operations, net of tax— — — 34.9 
Net income attributable to common shareholders$97.3 $91.4 $260.3 $284.9 
Earnings per diluted share from continuing operations$1.66 $1.56 $4.43 $4.27 
Earnings per diluted share from discontinued operations— — — 0.60 
Earnings per diluted share $1.66 $1.56 $4.43 $4.87 
Average diluted shares outstanding58.8 58.6 58.7 58.6 
Average basic shares outstanding57.8 57.6 57.7 57.5 
Supplemental data:
Cost of sales$440.0 $337.9 $1,272.3 $992.8 
Engineering, selling and administrative174.0 132.9 518.4 408.8 
Transaction related expenses (a)
12.6 3.3 47.0 10.1 
Repositioning related charges, net (a)
— — — 1.4 
Depreciation and amortization (a)
26.8 12.2 82.3 37.8 
Stock-based compensation expense (a)
4.1 5.5 16.4 25.4 
(a) Amounts included within Cost of sales and/or Engineering, selling & administrative costs.
7

CRANE COMPANY
Condensed Balance Sheets
(unaudited, in millions)

September 30,
2026		December 31,
2025
Assets
Current assets
Cash and cash equivalents$315.7 $506.5 
Restricted Cash— 1,223.3 
Accounts receivable, net513.3 358.7 
Inventories, net515.6 376.5 
Other current assets141.1 106.4 
Total current assets1,485.7 2,571.4 
Property, plant and equipment, net379.1 278.8 
Other assets815.6 319.3 
Goodwill1,315.7 683.9 
Total assets$3,996.1 $3,853.4 
Liabilities and Equity
Current liabilities
Short-term borrowings$16.9 $— 
Accounts payable209.5 189.6 
Accrued liabilities336.1 269.3 
Income taxes5.8 6.3 
Total current liabilities568.3 465.2 
Long-term debt911.6 1,148.2 
Long-term deferred tax liability105.8 45.9 
Other liabilities141.9 130.7 
Total liabilities1,727.6 1,790.0 
Total equity2,268.5 2,063.4 
Total liabilities and equity$3,996.1 $3,853.4 


8

CRANE COMPANY
Condensed Statements of Cash Flows
(unaudited, in millions)

Three Months Ended
September 30,		Nine Months Ended
September 30,
2026202520262025
Operating activities:
Net income attributable to common shareholders$97.3 $91.4 $260.3 $284.9 
Less: Income from discontinued operations, net of tax— — — 34.9 
Net income from continuing operations attributable to common shareholders97.3 91.4 260.3 250.0 
Depreciation and amortization26.8 12.2 82.3 37.8 
Stock-based compensation expense4.1 5.5 16.4 25.4 
Defined benefit plans and postretirement cost1.3 2.0 3.8 6.1 
Deferred income taxes(0.9)— (2.0)— 
Cash (used for) provided by operating working capital(5.4)32.2 (147.1)(108.7)
Defined benefit plans and postretirement contributions(0.7)(10.5)(1.7)(16.7)
Environmental payments, net of reimbursements(0.5)(0.3)(1.6)(2.0)
Other6.4 (2.3)10.8 (2.9)
Total provided by operating activities from continuing operations128.4 130.2 221.2 189.0 
Investing activities:
Payment for acquisitions - net of cash acquired and working capital adjustments31.8 — (1,323.6)(0.2)
Capital expenditures(12.1)(13.4)(37.4)(43.7)
Other investing activities — 0.3 0.1 0.5 
Total provided by (used for) investing activities from continuing operations19.7 (13.1)(1,360.9)(43.4)
Financing activities:
Dividends paid(14.7)(13.3)(44.1)(39.7)
Net receipts (payments) related to employee stock plans1.83.0(6.5)(5.9)
Debt refinancing costs—(3.8)— (3.8)
Proceeds from debt——50.0 — 
Repayments of debt(170.0)(47.5)(270.0)(247.5)
Total used for financing activities from continuing and discontinued operations(182.9)(61.6)(270.6)(296.9)
Discontinued operations:
Total provided by investing activities(a)
— — — 213.6 
Increase in cash and cash equivalents from discontinued operations— — — 213.6 
Effect of exchange rate on cash and cash equivalents0.1 0.5 (3.8)19.2 
(Decrease) Increase in cash and cash equivalents(34.7)56.0 (1,414.1)81.5 
Cash, cash equivalents and restricted cash at beginning of period(b)
350.4 332.2 1,729.8 306.7 
Cash and cash equivalents at end of period$315.7 $388.2 $315.7 $388.2 
(a) For the nine months ended September 30, 2025, the cash provided by investing activities from discontinued operations was from the sale of the Engineered Materials segment.
(b) Cash, cash equivalents and restricted cash at beginning of period included $1.2 billion in funds held in an escrow account related to the acquisitions of Druck, Panametrics, and Reuter-Stokes brands.
9

CRANE COMPANY
Order Backlog
(unaudited, in millions)
 
September 30,June 30,March 31,December 31,September 30,
20262026202620252025
Aerospace & Advanced Technologies(a)
$1,260.8 $1,267.7 $1,188.6 $1,075.5 $1,054.1 
Process Flow Technologies(b)
634.1 619.6 606.2 359.9 383.0 
Total backlog$1,894.9 $1,887.3 $1,794.8 $1,435.4 $1,437.1 
(a) Includes $112.8 million, of backlog as of September 30, 2026, pertaining to the Druck acquisition.
(b) Includes $224.0 million, of backlog as of September 30, 2026, pertaining to the Panametrics, Reuter-Stokes and optek-Danulat acquisitions.









 

 
10

CRANE COMPANY
Non-GAAP Financial Measures
(unaudited, in millions, except per share data)
Three Months Ended September 30,
20262025% Change
$Per Share$Per Share(on $)
Net sales (GAAP)$754.6 $589.2 28.1 %
Tariff recovery adjustment2.1 — 
Adjusted net sales (Non-GAAP)$756.7 $589.2 28.4 %
Adjusted Operating Profit and Adjusted Operating Profit Margin
Operating profit (GAAP)$140.6 $118.4 18.8 %
Operating profit margin (GAAP)18.6 %20.1 %
Special items impacting operating profit:
Transaction related expenses12.6 3.3 
Amortization of acquisition-related intangibles15.9 3.4 
Tariff Refunds, net0.8 — 
Adjusted operating profit (Non-GAAP)$169.9 $125.1 35.8 %
Adjusted operating profit margin (Non-GAAP)22.5 %21.2 %
Adjusted Net Income and Adjusted Net Income per Share
Net income from continuing operations attributable to common shareholders (GAAP)$97.3 $1.66 $91.4 $1.56 6.5 %
Transaction related expenses12.6 0.21 3.3 0.05 
Amortization of acquisition-related intangibles15.9 0.27 3.4 0.05 
Impact of pension non-service costs0.4 0.01 1.4 0.03 
Tariff Refunds, net0.8 0.01 — — 
Tax effect of the Non-GAAP adjustments(6.3)(0.11)(1.4)(0.02)
Adjusted net income (Non-GAAP)$120.7 $2.05 $98.1 $1.67 23.0 %
Adjusted EBITDA and Adjusted EBITDA Margin
Net income from continuing operations attributable to common shareholders (GAAP)$97.3 $91.4 6.5 %
Net income margin (GAAP)12.9 %15.5 %
Adjustments to net income:
Interest expense, net12.5 (1.2)
Income tax expense28.9 29.0 
Depreciation10.9 8.8 
Amortization15.9 3.4 
Miscellaneous expense (income), net1.9 (0.8)
Transaction related expenses12.6 3.3 
Tariff Refunds, net0.8 — 
Adjusted EBITDA (Non-GAAP)$180.8 $133.9 35.0 %
Adjusted EBITDA Margin (Non-GAAP)23.9 %22.7 %
Totals may not sum due to rounding
11

CRANE COMPANY
Non-GAAP Financial Measures
(in millions, except per share data)
Nine Months Ended September 30,
20262025% Change
$Per Share$Per Share(on $)
Net sales (GAAP)$2,175.7 $1,724.0 26.2 %
Tariff recovery adjustment2.1 — 
Adjusted net sales (Non-GAAP)$2,177.8 $1,724.0 26.3 %
Adjusted Operating Profit and Adjusted Operating Profit Margin
Operating profit (GAAP)$385.0 $322.4 19.4 %
Operating profit margin (GAAP)17.7 %18.7 %
Special items impacting operating profit:
Transaction related expenses47.0 10.1 
Repositioning related charges, net— 1.4 
Amortization of acquisition-related intangibles47.9 10.7 
Tariff Refunds, net(17.9)— 
Adjusted operating profit (Non-GAAP)$462.0 $344.6 34.1 %
Adjusted operating profit margin (Non-GAAP)21.2 %20.0 %
Adjusted Net Income and Adjusted Net Income per Share
Net income from continuing operations attributable to common shareholders (GAAP)$260.3 $4.43 $250.0 $4.27 4.1 %
Transaction related expenses47.0 0.80 10.2 0.17 
Repositioning related charges, net— — 1.4 0.02 
Amortization of acquisition-related intangibles47.9 0.82 10.7 0.18 
Impact of pension non-service costs1.3 0.02 3.8 0.07 
Tariff Refunds, net (a)
(18.7)(0.32)— — 
Tax effect of the Non-GAAP adjustments(14.9)(0.25)(4.9)(0.08)
Adjusted net income (Non-GAAP)$322.9 $5.50 $271.2 $4.63 19.1 %
Adjusted EBITDA and Adjusted EBITDA Margin
Net income from continuing operations attributable to common shareholders (GAAP)$260.3 $250 4.1 %
Net income margin (GAAP)12.0 %14.5 %
Adjustments to net income:
Interest expense, net42.2 1.5 
Income tax expense79.0 73.8 
Depreciation34.4 27.1 
Amortization47.9 10.7 
Miscellaneous expense (income), net3.5 (2.9)
Repositioning related charges, net— 1.4 
Transaction related expenses47.0 10.1 
Tariff Refunds, net(17.9)— 
Adjusted EBITDA (Non-GAAP)$496.4 $371.7 33.5 %
Adjusted EBITDA Margin (Non-GAAP)22.8 %21.6 %
(a) Includes $0.8 million of interest income earned on tariff refunds.
Totals may not sum due to rounding

12

CRANE COMPANY
Non-GAAP Financial Measures by Segment
(unaudited, in millions)

Three Months Ended September 30, 2026
Aerospace & Advanced TechnologiesProcess Flow TechnologiesCorporateTotal Company
Net sales $344.1 $410.5 $— $754.6 
Tariff recovery adjustment— 2.1 — 2.1 
Adjusted net sales (Non-GAAP)
$344.1 $412.6 $— $756.7 
Operating profit (GAAP)$85.4 $80.9 $(25.7)$140.6 
Operating profit margin (GAAP)24.8 %19.7 %18.6 %
Special items impacting operating profit:
Transaction related expenses2.0 4.8 5.8 12.6 
Amortization of acquisition-related intangibles3.2 12.7 — 15.9 
Tariff Refunds, net— 0.8 $— 0.8 
Adjusted operating profit (Non-GAAP)$90.6 $99.2 $(19.9)$169.9 
Adjusted operating profit margin (Non-GAAP)26.3 %24.0 %22.5 %
Three Months Ended September 30, 2025
Net sales$270.2 $319.0 $— $589.2 
Operating profit (GAAP)$67.7 $70.8 $(20.1)$118.4 
Operating profit margin (GAAP)25.1 %22.2 %20.1 %
Special items impacting operating profit:
Transaction related expenses— 0.3 3.0 3.3 
Amortization of acquisition-related intangibles0.6 2.8 — 3.4 
Adjusted operating profit (Non-GAAP)$68.3 $73.9 $(17.1)$125.1 
Adjusted operating profit margin (Non-GAAP)25.3 %23.2 %21.2 %
Totals may not sum due to rounding
















13


CRANE COMPANY
Non-GAAP Financial Measures by Segment
(in millions)

Nine Months Ended September 30, 2026Aerospace & Advanced TechnologiesProcess Flow TechnologiesCorporateTotal Company
Net sales $1,001.5 $1,174.2 $— $2,175.7 
Tariff recovery adjustment— 2.1 — 2.1 
Adjusted net sales (Non-GAAP)
$1,001.5 $1,176.3 $— $2,177.8 
Operating profit (GAAP)$245.8 $226.7 $(87.5)$385.0 
Operating profit margin (GAAP)24.5 %19.3 %17.7 %
Special items impacting operating profit:
Transaction related expenses6.6 15.4 25.0 47.0 
Repositioning related (gain) charges, net(0.2)0.2 — — 
Amortization of acquisition-related intangibles9.6 38.3 — 47.9 
Tariff Refunds, net(5.5)(12.4)— (17.9)
Adjusted operating profit (Non-GAAP)$256.3 $268.2 $(62.5)$462.0 
Adjusted operating profit margin (Non-GAAP)25.6 %22.8 %21.2 %
Nine Months Ended September 30, 2025
Net sales$777.3 $946.7 $— $1,724.0 
Operating profit (GAAP)$200.2 $197.5 $(75.3)$322.4 
Operating profit margin (GAAP)25.8 %20.9 %18.7 %
Special items impacting operating profit:
Transaction related expenses— 1.4 8.7 10.1 
Repositioning related charges, net0.1 1.3 — 1.4 
Amortization of acquisition-related intangibles1.8 8.9 — 10.7 
Adjusted operating profit (Non-GAAP)$202.1 $209.1 $(66.6)$344.6 
Adjusted operating profit margin (Non-GAAP)26.0 %22.1 %20.0 %
Totals may not sum due to rounding








14

CRANE COMPANY
Adjusted Free Cash Flow
(unaudited, in millions, except per share data)


Three Months Ended
September 30,		Nine Months Ended
September 30,
Cash Flow Items2026202520262025
Cash provided by operating activities from continuing operations$128.4 $130.2 $221.2 $189.0 
Less: Capital expenditures(12.1)(13.4)(37.4)(43.7)
Free cash flow$116.3 $116.8 $183.8 $145.3 
Adjustments:
Transaction-related expenses9.3 2.1 37.3 8.7 
Transaction-related adjustments— — 16.8 — 
Tariff Refunds, net0.8 — (18.7)— 
Adjusted free cash flow from continuing operations$126.4 $118.9 $219.2 $154.0 
Crane Company reports its financial results in accordance with U.S. generally accepted accounting principles (“GAAP”). This press release includes certain non-GAAP financial measures, including adjusted operating profit, adjusted operating profit margin, adjusted tax rate, adjusted net income, adjusted EPS, adjusted EBITDA, Free Cash Flow and Adjusted Free Cash Flow, that are not prepared in accordance with GAAP. These non-GAAP measures are an addition, and not a substitute for or superior to, measures of financial performance prepared in accordance with GAAP and should not be considered as an alternative to operating income, net income or any other performance measures derived in accordance with GAAP. We believe that these non-GAAP measures of financial results (including on a forward-looking or projected basis) provide useful supplemental information to investors about Crane Company. Our management uses certain forward looking non-GAAP measures to evaluate projected financial and operating results. However, there are a number of limitations related to the use of these non-GAAP measures and their nearest GAAP equivalents. For example, other companies may calculate non-GAAP measures differently or may use other measures to calculate their financial performance, and therefore our non-GAAP measures may not be directly comparable to similarly titled measures of other companies.

Reconciliations of certain forward-looking and projected non-GAAP measures for Crane Company, including Adjusted EPS, and Adjusted segment margin to the closest corresponding GAAP measure are not available without unreasonable efforts due to the high variability, complexity and low visibility with respect to the charges excluded from these non-GAAP measures, which could have a potentially significant impact on our future GAAP results. For Crane Company, these forward looking and projected non-GAAP measures are calculated as follows:

•"Adjusted segment operating margin" is calculated as adjusted segment operating profit divided by segment sales. Adjusted segment operating profit is calculated as operating profit excluding corporate costs and before Special Items which include acquisition-related intangible amortization, transaction related expenses, tariff refunds and repositioning related charges. We believe that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics.

•"Adjusted Tax Rate" is calculated as tax excluding the impact from items which are outside of our core performance, some of which may or may not be non-recurring, and which we believe may complicate the presentation of the Company’s underlying earnings divided by "Adjusted Net Income".

•"Adjusted EPS" is calculated as adjusted net income divided by diluted shares. Adjusted net income is calculated as net income adjusted for Special Items which include transaction related expenses such as professional fees, and incremental costs related to acquisitions; repositioning related charges; acquisition-related intangible amortization; tariff refunds and, the impact of pension non-service costs. We believe that non-GAAP financial measures adjusted for these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics.

We believe that each of the following non-GAAP measures provides useful information to investors regarding the Company’s financial conditions and operations:

•"Adjusted Net Sales" excludes the impact of tariff refunds paid to customers. We believe this non-GAAP measure provides investors with additional insight into the Company's underlying revenue performance by removing items that can vary significantly between periods and may not be indicative of ongoing operating results.

•"Adjusted Operating Profit" and "Adjusted Operating Margin" add back to Operating Profit items which are outside of our core performance, some of which may or may not be non-recurring, and which we believe may complicate the interpretation of the Company’s underlying earnings and operational performance. These items include income and expense such as: acquisition-related intangible amortization, transaction related expenses, tariff refunds and repositioning related (gains) charges. These
15

items are not incurred in all periods, the size of these items is difficult to predict, and none of these items are indicative of the operations of the underlying businesses. We believe that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics.

•"Adjusted Net Income" and "Adjusted EPS" exclude items which are outside of our core performance, some of which may or may not be non-recurring, and which we believe may complicate the presentation of the Company’s underlying earnings and operational performance. These measures include income and expense items that impacted Operating Profit such as: acquisition-related intangible amortization, transaction related expenses, tariff refunds and repositioning related (gains) charges. Additionally, these non-GAAP financial measures exclude income and expense items that impacted Net Income and Earnings per Diluted Share such as the impact of pension non-service costs. These items are not incurred in all periods, the size of these items is difficult to predict, and none of these items are indicative of the operations of the underlying businesses. We believe that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future earnings and profitability that are complementary to GAAP metrics.

•"Adjusted EBITDA" adds back to net income: net interest expense, income tax expense, depreciation and amortization, miscellaneous (income) expense, net, and items outside of our core performance such as transaction related expenses and tariff refunds. "Adjusted EBITDA Margin" is calculated as adjusted EBITDA divided by net sales. We believe that adjusted EBITDA and adjusted EBITDA margin provide investors with an alternative metric that may be a meaningful indicator of our performance and provides useful information to investors regarding our financial conditions and results of operations that is complementary to GAAP metrics.

•“Free Cash Flow” and “Adjusted Free Cash Flow from continuing operations” provide supplemental information to assist management and investors in analyzing the Company’s ability to generate liquidity from its operating activities. The measure of free cash flow does not take into consideration certain other non-discretionary cash requirements such as, for example, mandatory principal payments on the Company’s long-term debt. Free Cash Flow is calculated as cash provided by operating activities less capital spending. Adjusted Free Cash Flow from continuing operations is calculated as Free Cash Flow adjusted for certain cash items which we believe may complicate the interpretation of the Company’s underlying free cash flow performance such as certain transaction related cash flow items related to acquisitions and tariff refunds. These items are not incurred in all periods, the size of these items is difficult to predict, and none of these items are indicative of the operations of the underlying businesses. We believe that non-GAAP financial measures that exclude these items provide investors with an alternative metric that can assist in predicting future cash flows that are complementary to GAAP metrics.
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