Crane Company’s first-quarter 2026 sales rose to $696.4 million from $557.6 million a year earlier, an increase of 24.9%. Core sales grew 3.8%, acquisitions added 18.3%, and foreign exchange contributed 2.7%.
Earnings from continuing operations per diluted share fell to $1.14 from $1.34 last year, a decline of 15%. Adjusted earnings per diluted share climbed to a record $1.65 from $1.43, up 15%.
Operating profit slipped to $100.1 million from $101.1 million, down 1.0%, while adjusted operating profit jumped to $137.8 million from $107.1 million, up 28.7%. Operating margin narrowed to 14.4% from 18.1%, but adjusted operating margin improved to 19.8% from 19.2%.
Cash used in operating activities from continuing operations was $29.5 million in the quarter. Capital expenditures were $10.7 million, resulting in free cash flow of negative $40.2 million. Adjusted free cash flow from continuing operations was negative $23.5 million. Crane ended the quarter with $355.4 million in cash and $1.198 billion in total debt.
By segment, Aerospace & Advanced Technologies posted sales of $318.3 million, up 27.9% from $248.9 million. Core sales rose 9.4%, acquisitions contributed 17.2%, and foreign exchange added 1.2%. Operating profit increased to $71.5 million from $64.6 million, up 10.7%, while adjusted operating profit rose to $78.3 million from $65.2 million, up 20.1%. The segment’s operating margin fell to 22.5% from 26.0%; adjusted operating margin declined to 24.6% from 26.2%.
Process Flow Technologies reported sales of $378.1 million, up 22.5% from $308.7 million. Acquisitions contributed 19.2%, foreign exchange added 3.9%, and core sales slipped 0.6%. Operating profit rose to $64.2 million from $62.8 million, up 2.2%, while adjusted operating profit increased to $83.5 million from $66.8 million, up 25.0%. Operating margin declined to 17.0% from 20.3%, but adjusted operating margin improved to 22.1% from 21.6%.
Crane raised its full-year adjusted EPS outlook to $6.65-$6.85 from $6.55-$6.75. At the midpoint, that implies about 12% growth versus 2025. The company also said total sales for 2026 are expected to rise in the low* to mid-20% range, with mid-single-digit core sales growth and about 1% foreign exchange benefit.
Crane declared a second-quarter dividend of $0.255 per share, up from the prior quarterly rate implied by the release’s stated payout. The market has reacted to these announcements by moving the company's shares -0.19% to a price of $180.08. Check out the company's full 8-K submission here.
