First Quarter 2025 Highlights
• Earnings per diluted share (EPS) from continuing operations of $1.34, up 31%, and adjusted EPS from continuing operations $1.39, up 24%.
• Sales of $557.6 million, up 9.3% driven by 7.5% core sales growth.
• Core order growth up 15.6% and core backlog growth up 12.1%, driven primarily by ongoing strength at Aerospace & Electronics.
• Declaring second quarter 2025 regular dividend of $0.23 per share.
Full Year Outlook
• Reaffirming our full year adjusted EPS outlook range of $5.30-$5.60.
STAMFORD, Conn.--(BUSINESS WIRE)--Crane Company ("Crane," NYSE: CR) today announced its financial results for the first quarter of 2025 and reaffirmed its full-year adjusted EPS outlook.
Max Mitchell, Crane's Chairman, President and Chief Executive Officer, stated: "We delivered a very strong start to 2025, with exceptional results in the first quarter of 24.1% adjusted EPS growth driven by 7.5% core sales growth and strong operating leverage. Furthermore, demand trends across our strategic growth platforms were solid in the quarter, with 15.6% year-over-year core order growth and 12.1% year-over-year core backlog growth.
"Our teams continue to execute extremely well. Our key initiatives remain aligned with driving above-market returns by focusing on commercial and operational excellence, as well as delivering breakthrough innovation for our customers. Over the last few months, just a few notable successes at Aerospace & Electronics include winning additional incremental content on hybrid-electric military ground vehicles and completing initial development work for an anti-skid brake control system for a very promising unmanned fighter aircraft; and at Process Flow Technologies, we received critical approvals for a new pharmaceutical valve with a key customer, and we completed the first installations of our new SyFlo wastewater pump product.
"As we exited 2024, we had a very positive outlook for 2025 given the expectation of executing successfully on our strategy and growth initiatives, along with a favorable macroeconomic outlook. As the quarter progressed, we gained confidence in a path to earnings above the guidance range we provided in January. However, given recent economic developments and policy decisions outside of our control, the balance of the year is likely to unfold differently than we had anticipated. Despite this uncertainty, based on the current inflationary pressures, and the demand and supply chain environment that we see today, along with our best analysis of the risks and opportunities ahead of us this year, we are comfortable reaffirming our full-year 2025 adjusted EPS outlook in the range of $5.30-$5.60. Our outlook reflects our views based on current economic conditions, and we will, of course, adjust that outlook if needed based on any updates or changes to trade policy or any incremental changes in the demand environment.
"While factors outside our control remain dynamic, Crane remains extremely well positioned to outgrow our end markets and deliver above-market shareholder returns. Our focus today is executing on everything within our control, reacting swiftly to what is outside our control, serving our customers, and continuing to invest in all of our growth initiatives and technology roadmaps. I fully expect to emerge from this dislocation in an even stronger competitive position than when we entered the year and our teams are excited to capitalize on the opportunities, and to face the challenges, that lie ahead."
Read full press release:
https://www.businesswire.com/news/home/20250428242478/en/
• Earnings per diluted share (EPS) from continuing operations of $1.34, up 31%, and adjusted EPS from continuing operations $1.39, up 24%.
• Sales of $557.6 million, up 9.3% driven by 7.5% core sales growth.
• Core order growth up 15.6% and core backlog growth up 12.1%, driven primarily by ongoing strength at Aerospace & Electronics.
• Declaring second quarter 2025 regular dividend of $0.23 per share.
Full Year Outlook
• Reaffirming our full year adjusted EPS outlook range of $5.30-$5.60.
STAMFORD, Conn.--(BUSINESS WIRE)--Crane Company ("Crane," NYSE: CR) today announced its financial results for the first quarter of 2025 and reaffirmed its full-year adjusted EPS outlook.
Max Mitchell, Crane's Chairman, President and Chief Executive Officer, stated: "We delivered a very strong start to 2025, with exceptional results in the first quarter of 24.1% adjusted EPS growth driven by 7.5% core sales growth and strong operating leverage. Furthermore, demand trends across our strategic growth platforms were solid in the quarter, with 15.6% year-over-year core order growth and 12.1% year-over-year core backlog growth.
"Our teams continue to execute extremely well. Our key initiatives remain aligned with driving above-market returns by focusing on commercial and operational excellence, as well as delivering breakthrough innovation for our customers. Over the last few months, just a few notable successes at Aerospace & Electronics include winning additional incremental content on hybrid-electric military ground vehicles and completing initial development work for an anti-skid brake control system for a very promising unmanned fighter aircraft; and at Process Flow Technologies, we received critical approvals for a new pharmaceutical valve with a key customer, and we completed the first installations of our new SyFlo wastewater pump product.
"As we exited 2024, we had a very positive outlook for 2025 given the expectation of executing successfully on our strategy and growth initiatives, along with a favorable macroeconomic outlook. As the quarter progressed, we gained confidence in a path to earnings above the guidance range we provided in January. However, given recent economic developments and policy decisions outside of our control, the balance of the year is likely to unfold differently than we had anticipated. Despite this uncertainty, based on the current inflationary pressures, and the demand and supply chain environment that we see today, along with our best analysis of the risks and opportunities ahead of us this year, we are comfortable reaffirming our full-year 2025 adjusted EPS outlook in the range of $5.30-$5.60. Our outlook reflects our views based on current economic conditions, and we will, of course, adjust that outlook if needed based on any updates or changes to trade policy or any incremental changes in the demand environment.
"While factors outside our control remain dynamic, Crane remains extremely well positioned to outgrow our end markets and deliver above-market shareholder returns. Our focus today is executing on everything within our control, reacting swiftly to what is outside our control, serving our customers, and continuing to invest in all of our growth initiatives and technology roadmaps. I fully expect to emerge from this dislocation in an even stronger competitive position than when we entered the year and our teams are excited to capitalize on the opportunities, and to face the challenges, that lie ahead."
Read full press release:
https://www.businesswire.com/news/home/20250428242478/en/
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