# EDGAR Filing Document

**Accession Number:** 0001944013
**File Stem:** 0001628280-25-036200
**Filing Date:** 2025-7
**Character Count:** 53570
**Document Hash:** b367bbd7666ba46349c549e76c15d771
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-036200.hdr.sgml**: 20250728

**ACCESSION NUMBER**: 0001628280-25-036200

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 14

**CONFORMED PERIOD OF REPORT**: 20250728

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20250728

**DATE AS OF CHANGE**: 20250728

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Crane Co
- **CENTRAL INDEX KEY:** 0001944013
- **STANDARD INDUSTRIAL CLASSIFICATION:** MISCELLANEOUS FABRICATED METAL PRODUCTS [3490]
- **ORGANIZATION NAME:** 04 Manufacturing
- **EIN:** 882846451
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-41570
- **FILM NUMBER:** 251155915

**BUSINESS ADDRESS:**
- **STREET 1:** 100 FIRST STAMFORD PLACE
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902
- **BUSINESS PHONE:** (203) 363-7300

**MAIL ADDRESS:**
- **STREET 1:** 100 FIRST STAMFORD PLACE
- **CITY:** STAMFORD
- **STATE:** CT
- **ZIP:** 06902

?xml version='1.0' encoding='ASCII'? cr-20250728

**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): July 28, 2025**

**CRANE COMPANY** 

**(Exact name of registrant as specified in its charter)**

**DELAWARE**

**(State or other jurisdiction of incorporation)**

---

| | | | |
|:---|:---|:---|:---|
| **Delaware** | **1-41570** | **1-41570** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**88-2846451**  |
| (State or other jurisdiction of incorporation or organization) | (Commission File Number) | (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 class | Trading Symbol | Name of each exchange on which registered |
| **Common Stock, par value $1.00** | **CR** | **New 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. ☐

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**SECTION 2 – FINANCIAL INFORMATION**

---

| | |
|:---|:---|
| **Item 2.02** | **Results of Operations and Financial Condition.** |

---

On July 28, 2025, Crane Company (the "Company") announced its results of operations for the quarter ended June 30, 2025. 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 9.01** | **Financial Statements and Exhibits.** |

---

---

| | |
|:---|:---|
| (a) |  |
| (b) |  |
| (c) |  |
| (d) | Exhibits |
| 99.1 | <u>[Earnings Press Release dated](exhibit991-pressreleasexq2.htm)[July](exhibit991-pressreleasexq2.htm)[28, 2025 and Crane Company Quarterly Financial Data Supplement for the quarter ended](exhibit991-pressreleasexq2.htm)[June](exhibit991-pressreleasexq2.htm)[3](exhibit991-pressreleasexq2.htm)[0](exhibit991-pressreleasexq2.htm)[, 2025](exhibit991-pressreleasexq2.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |

---

------

**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 | CRANE COMPANY |
| July 28, 2025 |  |  |
|  | By: | /s/ Richard A. Maue |
|  |  | Richard A. Maue |
|  |  | Executive Vice President and |
|  |  | Chief Financial Officer |

---

## Exhibit 99.1

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**Exhibit 99.1**

![crane_logox245x100.jpg](crane_logox245x100.jpg)

---

| |
|:---|
| <u>Contact:</u> |
| Jason D. Feldman |
| Senior Vice President, Investor Relations, Treasury & Tax |
| Allison Poliniak-Cusic |
| Vice President, Investor Relations |
| IR@craneco.com |
| www.craneco.com |

---

**Crane Company Reports Second Quarter 2025 Results and Raises Full Year Adjusted EPS Guidance**

**Second Quarter 2025 Highlights** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Earnings per diluted share (EPS) from continuing operations of $1.37, up 20%, and adjusted EPS from continuing operations of $1.49, up 24%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Sales of $577.2 million, up 9.2% driven by 6.5% core sales growth.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Core order growth up 19.6% and core backlog growth up 18.2%, driven primarily by ongoing strength at Aerospace & Electronics.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Announced agreement to acquire Precision Sensors & Instrumentation ("PSI") on June 9, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Declaring third quarter 2025 regular dividend of $0.23 per share.

**Full Year Outlook**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Raising our full-year adjusted EPS outlook range to $5.50-$5.80 from prior view of $5.30-$5.60.

STAMFORD, CONNECTICUT - July 28, 2025 - Crane Company ("Crane," NYSE: CR) today announced its financial results for the second quarter of 2025 and raised its full-year adjusted EPS outlook.

Max Mitchell, Crane's Chairman, President and Chief Executive Officer, stated: "My thanks and appreciation to the global Crane team for delivering another excellent quarter, with 24% adjusted EPS growth on 6.5% core sales growth resulting from our focus on exceeding our customers' expectations with exceptional technology and service. Demand trends across our strategic growth platforms remained strong in the quarter, with 19.6% year-over-year core order growth and 18.2% year-over-year core backlog growth.

"The strength of our underlying businesses, our strategy, and our capabilities in both operational execution and commercial excellence, coupled with a strong balance sheet, positions us extremely well to continue driving above market growth organically and complemented by acquisitions.

"Additionally, during the second quarter, as previously announced, we signed an agreement to acquire PSI from Baker Hughes. This acquisition adds highly sophisticated sensor-based technologies to our portfolio for mission critical

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**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

applications in harsh and hazardous environments across aerospace, nuclear, and process markets. We believe that PSI's capabilities and market positions, paired with our operational and commercial capabilities, create a highly compelling value creation opportunity for our shareholders. We are incredibly excited about this pending acquisition that is expected to close at year-end, and integration planning is well underway and progressing smoothly. We also remain well positioned to execute our disciplined and process-driven capital deployment strategy with further balance sheet optionality and a robust funnel of acquisition opportunities.

"Overall, our teams continue to execute extremely well. While the macroeconomic backdrop remains unpredictable, our backlog, consistently strong execution, along with our performance year-to-date, gives us the confidence to raise our full-year adjusted earnings outlook to a range of $5.50-$5.80, up from our prior view of $5.30-$5.60."

**Second Quarter 2025 Results** 

Second quarter 2025 GAAP EPS from continuing operations of $1.37 compared to $1.14 in the second quarter of 2024. Second quarter 2025 adjusted EPS from continuing operations of $1.49 compared to $1.20 in the second quarter of 2024.

Second quarter sales increased 9.2%, with 6.5% core sales growth, a 1.8% contribution from acquisitions, and a 0.9% benefit from foreign exchange. Operating profit of $102.9 million increased 15.2% compared to last year, and adjusted operating profit of $109.3 million increased 14.7% compared to last year, in both cases primarily reflecting the impact of higher productivity.

**Summary of Second Quarter 2025 Results** 

---

| | | | |
|:---|:---|:---|:---|
| | Second Quarter | Second Quarter | Change |
| (unaudited, dollars in millions) | 2025 | 2024 | $% |
| Net sales | $577.2 | $528.6 | 9.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;*Core sales* |  |  | *6.5 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Acquisitions* |  |  | *1.8 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Foreign exchange* |  |  | *0.9 %* |
| Operating profit | $102.9 | $89.3 | 15.2% |
| Adjusted operating profit\* | $109.3 | $95.3 | 14.7% |
| Operating profit margin | 17.8% | 16.9% | 90bps |
| Adjusted operating profit margin\* | 18.9% | 18.0% | 90bps |
| \*Please see the attached Non-GAAP Financial Measures tables |  |  |  |

---

**Cash Flow, Financing Activities and Other Financial Metrics**

During the second quarter of 2025, cash generated from operating activities from continuing operations was $105.0 million, capital expenditures were $16.1 million, and free cash flow (cash provided by operating activities less capital spending) was $88.9 million. Adjusted free cash flow from continuing operations (free cash flow excluding transaction related cash outflows) was $93.3 million. (Please see the attached non-GAAP Financial Measures tables.)

As of June 30, 2025, the Company's cash balance was $332.2 million with total debt of $47.2 million.

------

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

Rich Maue, Crane's Executive Vice President and Chief Financial Officer, added: "We executed on our disciplined inorganic growth strategy in the quarter with the announced agreement to acquire PSI. This transaction meets all of Crane's strategic and financial criteria, including a 10% ROIC by year five. We believe that the strong fit of PSI with our existing business, combined with our consistently differentiated execution, will drive attractive financial returns.

"Following the acquisition, we estimate that Crane will have a net debt to adjusted EBITDA ratio of approximately 1x, leaving us with substantial capacity for further acquisitions. M&A activity levels remain robust despite heightened economic and trade related uncertainty. Opportunities are spread across both Aerospace & Electronics and Process Flow Technologies, and include high quality assets in a wide range of sizes. We continue to look forward to putting our balance sheet to work over the course of the next few quarters."

**Second Quarter 2025 Segment Results**

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

**Aerospace & Electronics**

---

| | | | |
|:---|:---|:---|:---|
| | Second Quarter | Second Quarter | Change |
| (unaudited, dollars in millions) | 2025 | 2024 | $% |
| Net sales | $258.2 | $230.9 | 11.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;*Core sales* |  |  | *11.6 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Foreign Exchange* |  |  | *0.2 %* |
| Operating profit | $67.9 | $52.7 | *28.8 %* |
| Adjusted operating profit\* | $68.0 | $54.9 | 23.9% |
| Operating profit margin | 26.3% | 22.8% | 350bps |
| Adjusted operating profit margin\* | 26.3% | 23.8% | 250bps |
| \*Please see the attached Non-GAAP Financial Measures tables | \*Please see the attached Non-GAAP Financial Measures tables | \*Please see the attached Non-GAAP Financial Measures tables | \*Please see the attached Non-GAAP Financial Measures tables |

---

Sales of $258.2 million increased 11.8% compared to the prior year, driven by 11.6% core sales growth and a slight benefit from favorable foreign exchange. The strength was driven primarily by the segment's aftermarket, up 17.9% in the quarter. Operating profit margin of 26.3% increased 350 basis points from last year, primarily reflecting the impact of productivity, favorable mix, higher volumes, and higher price net of inflation. Adjusted operating profit margin of 26.3% increased 250 basis points from last year. Aerospace & Electronics' order backlog was $1,052.8 million as of June 30, 2025 compared to $960.1 million as of March 31, 2025, and $814.9 million as of June 30, 2024.

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**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**Process Flow Technologies**

---

| | | | |
|:---|:---|:---|:---|
| | Second Quarter | Second Quarter | Change |
| (unaudited, dollars in millions) | 2025 | 2024 | $% |
| Net sales | $319.0 | $297.7 | 7.2% |
| &nbsp;&nbsp;&nbsp;&nbsp;*Core sales* |  |  | *2.6 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Acquisitions* |  |  | *3.2 %* |
| &nbsp;&nbsp;&nbsp;&nbsp;*Foreign exchange* |  |  | *1.4 %* |
| Operating profit | $63.9 | $59.5 | 7.4% |
| Adjusted operating profit\* | $65.9 | $60.9 | 8.2% |
| Operating profit margin | 20.0% | 20.0% | 0bps |
| Adjusted operating profit margin\* | 20.7% | 20.5% | 20bps |
| \*Please see the attached Non-GAAP Financial Measures tables |  |  |  |

---

Sales of $319.0 million increased 7.2% compared to the prior year, driven by 2.6% core sales growth, a 3.2% contribution from the previously announced CryoWorks and Technifab acquisitions, and a 1.4% benefit from favorable foreign exchange. Operating profit margin of 20.0% was flat compared to the prior year. Adjusted operating profit margin was 20.7% up 20 basis points compared to a year ago primarily due to productivity. Process Flow Technologies order backlog was $403.1 million as of June 30, 2025 compared to $389.9 million as of March 31, 2025, and $399.9 million as of June 30, 2024.

**Raising 2025 Guidance**

We are raising our full-year adjusted EPS outlook range to $5.50-$5.80, up from $5.30 to $5.60, and up 16% at the mid-point over 2024.

Key assumptions for our guidance include:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Total sales growth of approximately 6.5% (up from approximately 5%), driven by core sales growth of approximately 4% to 6%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted segment operating margin of 22.5%+ (unchanged).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Corporate cost of $80 million (unchanged).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Net non-operating income of $4 million (up from a $10 million expense).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Adjusted tax rate of 23.5% (unchanged).

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• 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 Third Quarter Dividend**

Crane announced its regular quarterly dividend of $0.23 per share for the third quarter of 2025. The dividend is payable on September 10, 2025 to shareholders of record as of August 29, 2025.

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**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

**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 and acquisitions and divestitures from 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 Tuesday, July 29, 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* 

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**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

*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)<br>

Source: Crane Company

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**CRANE COMPANY <br>Condensed Statements of Operations Data**

(unaudited, in millions, except per share data)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| <u>Net sales:</u> |  |  |  |  |
| Aerospace & Electronics | $258.2 | $230.9 | $507.1 | $456.8 |
| Process Flow Technologies | 319.0 | 297.7 | 627.7 | 582.0 |
| Total net sales | $577.2 | $528.6 | $1134.8 | $1038.8 |
| <u>Operating profit:</u> |  |  |  |  |
| Aerospace & Electronics | $67.9 | $52.7 | $132.5 | $101.0 |
| Process Flow Technologies | 63.9 | 59.5 | 126.7 | 116.4 |
| Corporate | (28.9) | (22.9) | (55.2) | (46.8) |
| Total operating profit | $102.9 | $89.3 | $204.0 | $170.6 |
| Interest income | $2.9 | $1.3 | $6.1 | $2.5 |
| Interest expense | (4.3) | (7.4) | (8.8) | (14.6) |
| Miscellaneous income, net | 3.1 | 1.3 | 2.1 | 0.1 |
| Income from continuing operations before income taxes | 104.6 | 84.5 | 203.4 | 158.6 |
| Provision for income taxes | 24.3 | 18.2 | 44.8 | 33.5 |
| Net income from continuing operations attributable to common shareholders | 80.3 | 66.3 | 158.6 | 125.1 |
| Income from discontinued operations, net of tax | 6.1 | 5.3 | 34.9 | 11.3 |
| Net income attributable to common shareholders | $86.4 | $71.6 | $193.5 | $136.4 |
| Earnings per diluted share from continuing operations | $1.37 | $1.14 | $2.71 | $2.15 |
| Earnings per diluted share from discontinued operations | 0.10 | 0.09 | 0.60 | 0.19 |
| Earnings per diluted share | $1.47 | $1.23 | $3.31 | $2.34 |
| Average diluted shares outstanding | 58.5 | 58.3 | 58.5 | 58.2 |
| Average basic shares outstanding | 57.5 | 57.2 | 57.4 | 57.1 |
| <u>Supplemental data:</u> |  |  |  |  |
| Cost of sales | $334.9 | $317.1 | $654.9 | $620.5 |
| Engineering, selling and administrative | 139.4 | 122.2 | 275.9 | 247.7 |
| Transaction related expenses <sup>(a)</sup> | 5.1 | 5.9 | 8.0 | 12.7 |
| Repositioning related charges, net <sup>(a)</sup> | 1.3 | 0.1 | 1.4 | 0.5 |
| Depreciation and amortization <sup>(a)</sup> | 13.1 | 12.8 | 25.6 | 24.7 |
| Stock-based compensation expense <sup>(a)</sup> | 10.6 | 6.8 | 19.9 | 13.3 |
| <sup>(a)</sup> Amounts included within Cost of sales and/or Engineering, selling & administrative costs. |  |  |  |  |

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**CRANE COMPANY <br>Condensed Balance Sheets**

(unaudited, in millions)

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| | | |
|:---|:---|:---|
| | **June 30,<br>2025** | **December 31,<br>2024** |
| Assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | $332.2 | $306.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts receivable, net | 383.7 | 339.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Inventories, net | 402.2 | 380.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other current assets | 127.5 | 159.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current assets held for sale |  | 217.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current assets | 1245.6 | 1403.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Property, plant and equipment, net | 275.2 | 261.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other assets | 310.9 | 315.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Goodwill | 684.9 | 661.6 |
| Total assets | $2516.6 | $2641.9 |
| Liabilities and Equity |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current liabilities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current maturities of long-term debt | $47.2 | $— |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accounts payable | 149.1 | 188.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Accrued liabilities | 224.4 | 303.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income taxes | 4.8 | 7.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Current liabilities held for sale |  | 44.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total current liabilities | 425.5 | 543.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term debt |  | 247.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long-term deferred tax liability | 38.5 | 34.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other liabilities | 164.0 | 175.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total liabilities | 628.0 | 1000.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total equity | 1888.6 | 1641.0 |
| Total liabilities and equity | $2516.6 | $2641.9 |

---

------

**CRANE COMPANY <br>Condensed Statements of Cash Flows**

(unaudited, in millions)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** |
| | **2025** | **2024** | **2025** | **2024** |
| Operating activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income attributable to common shareholders | $86.4 | $71.6 | $193.5 | $136.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Less: Income from discontinued operations, net of tax | 6.1 | 5.3 | 34.9 | 11.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net income from continuing operations attributable to common shareholders | 80.3 | 66.3 | 158.6 | 125.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Depreciation and amortization | 13.1 | 12.8 | 25.6 | 24.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation expense | 10.6 | 6.8 | 19.9 | 13.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Defined benefit plans and postretirement cost | 2.1 | 0.8 | 4.1 | 1.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deferred income taxes |  |  |  | (3.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash provided by (used for) operating working capital | 5.5 | (28.2) | (140.9) | (171.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Defined benefit plans and postretirement contributions | (5.6) | (5.4) | (6.2) | (6.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Environmental payments, net of reimbursements | (0.6) | (1.4) | (1.7) | (2.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other | (0.4) | (0.4) | (0.6) | (1.2) |
| Total provided by (used for) operating activities from continuing operations | 105.0 | 51.3 | 58.8 | (19.6) |
| Investing activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Payment for acquisitions - net of cash acquired and working capital adjustments |  | (60.7) | (0.2) | (166.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital expenditures | (16.1) | (6.7) | (30.3) | (14.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other investing activities | 0.2 | 5.5 | 0.2 | 5.7 |
| Total used for investing activities from continuing operations | (15.9) | (61.9) | (30.3) | (175.3) |
| Financing activities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends paid | (13.2) | (11.7) | (26.4) | (23.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net payments related to employee stock plans | 1.5 | 3.4 | (8.9) | (5.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from debt |  | 50.0 |  | 190.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Repayments of debt | (200.0) | (30.0) | (200.0) | (61.9) |
| Total (used for) provided by financing activities from continuing and discontinued operations | (211.7) | 11.7 | (235.3) | 99.6 |
| Discontinued operations: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total used for operating activities |  | 10.7 |  | 1.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total provided by (used for) investing activities<sup>(a)</sup> | 5.9 | (0.7) | 213.6 | (1.8) |
| Increase (decrease) in cash and cash equivalents from discontinued operations | 5.9 | 10.0 | 213.6 | (0.1) |
| Effect of exchange rate on cash and cash equivalents | 13.8 | (1.2) | 18.7 | (4.9) |
| (Decrease) increase in cash and cash equivalents | (102.9) | 9.9 | 25.5 | (100.3) |
| Cash and cash equivalents at beginning of period | 435.1 | 219.4 | 306.7 | 329.6 |
| Cash and cash equivalents of continuing operations at end of period | $332.2 | $229.3 | $332.2 | $229.3 |
| <sup>(a)</sup> For the three and six months ended June 30, 2025, the cash provided by investing activities from discontinued operations was from the sale of the Engineered Materials segment. | <sup>(a)</sup> For the three and six months ended June 30, 2025, the cash provided by investing activities from discontinued operations was from the sale of the Engineered Materials segment. | <sup>(a)</sup> For the three and six months ended June 30, 2025, the cash provided by investing activities from discontinued operations was from the sale of the Engineered Materials segment. | <sup>(a)</sup> For the three and six months ended June 30, 2025, the cash provided by investing activities from discontinued operations was from the sale of the Engineered Materials segment. | <sup>(a)</sup> For the three and six months ended June 30, 2025, the cash provided by investing activities from discontinued operations was from the sale of the Engineered Materials segment. |

---

------

**CRANE COMPANY <br>Order Backlog** 

(unaudited, in millions)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **June 30,**<br>**2025** | **March 31,**<br>**2025** | **December 31,**<br>**2024** | **September 30,**<br>**2024** | **June 30,**<br>**2024** |
| Aerospace & Electronics  | $1052.8 | $960.1 | $863.8 | $833.3 | $814.9 |
| Process Flow Technologies<sup>(a)</sup> | 403.1 | 389.9 | 376.4 | 392.0 | 399.9 |
| Total backlog | $1455.9 | $1350.0 | $1240.2 | $1225.3 | $1214.8 |

---

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

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**CRANE COMPANY <br>Non-GAAP Financial Measures**

(unaudited, in millions, except per share data)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Three Months Ended June 30,** | **Three Months Ended June 30,** | |
| | **2025** | **2025** | **2024** | **2024** | |
| | **$** | **Per Share** | **$** | **Per Share** |<br>**% Change**<br>**(on $)** |
| Net sales (GAAP) | $577.2 |  | $528.6 |  | 9.2% |
| **Adjusted Operating Profit and Adjusted Operating Profit Margin** |  |  |  |  |  |
| Operating profit (GAAP) | $102.9 |  | $89.3 |  | 15.2% |
| *Operating profit margin (GAAP)* | *17.8* |  | *16.9* |  |  |
| Special items impacting operating profit: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses | 5.1 |  | 5.9 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net | 1.3 |  | 0.1 |  |  |
| Adjusted operating profit (Non-GAAP) | $109.3 |  | $95.3 |  | 14.7% |
| *Adjusted operating profit margin (Non-GAAP)* | *18.9* |  | *18.0* |  |  |
| **Adjusted Net Income and Adjusted Net Income per Share** |  |  |  |  |  |
| Net income from continuing operations attributable to common shareholders (GAAP) | $80.3 | $1.37 | $66.3 | $1.14 | 21.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses | 5.1 | 0.09 | 5.3 | 0.09 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net | 1.3 | 0.02 | 0.1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact of pension non-service costs | 1.2 | 0.02 | (0.4) | (0.01) |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax effect of the Non-GAAP adjustments | (1.0) | (0.01) | (1.1) | (0.02) |  |
| Adjusted net income (Non-GAAP) | $86.9 | $1.49 | $70.2 | $1.20 | 23.8% |
| **Adjusted EBITDA and Adjusted EBITDA Margin** |  |  |  |  |  |
| Net income from continuing operations attributable to common shareholders (GAAP) | $80.3 |  | $66.3 |  | 21.1% |
| Net income margin (GAAP) | *13.9* |  | *12.5* |  |  |
| Adjustments to net income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | 1.4 |  | 6.1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | 24.3 |  | 18.2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 9.5 |  | 8.5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | 3.6 |  | 4.3 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous income, net | (3.1) |  | (1.3) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net | 1.3 |  | 0.1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses | 4.6 |  | 2.5 |  |  |
| Adjusted EBITDA (Non-GAAP) | $121.9 |  | $104.7 |  | 16.4% |
| *Adjusted EBITDA Margin (Non-GAAP)* | *21.1* |  | *19.8* |  |  |
| Totals may not sum due to rounding |  |  |  |  |  |

---

------

**CRANE COMPANY**

**Non-GAAP Financial Measures**

(in millions, except per share data)

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | **Six Months Ended June 30,** | |
| | **2025** | **2025** | **2024** | **2024** | |
| | **$** | **Per Share** | **$** | **Per Share** |<br>**% Change**<br>**(on $)** |
| Net sales (GAAP) | $1134.8 |  | $1038.8 |  | 9.2% |
| **Adjusted Operating Profit and Adjusted Operating Profit Margin** |  |  |  |  |  |
| Operating profit (GAAP) | $204.0 |  | $170.6 |  | 19.6% |
| *Operating profit margin (GAAP)* | *18.0* |  | *16.4* |  |  |
| Special items impacting operating profit: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses | 8.0 |  | 12.7 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net | 1.4 |  | 0.5 |  |  |
| Adjusted operating profit (Non-GAAP) | $213.4 |  | $183.8 |  | 16.1% |
| *Adjusted operating profit margin (Non-GAAP)* | *18.8* |  | *17.7* |  |  |
| **Adjusted Net Income and Adjusted Net Income per Share** |  |  |  |  |  |
| Net income from continuing operations attributable to common shareholders (GAAP) | $158.6 | $2.71 | $125.1 | $2.15 | 26.8% |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses | 8.1 | 0.14 | 12.1 | 0.21 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net | 1.4 | 0.02 | 0.5 | 0.01 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Impact of pension non-service costs | 2.4 | 0.04 |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tax effect of the Non-GAAP adjustments | (1.9) | (0.03) | (2.6) | (0.05) |  |
| Adjusted net income (Non-GAAP) | $168.6 | $2.88 | $135.1 | $2.32 | 24.8% |
| **Adjusted EBITDA and Adjusted EBITDA Margin** |  |  |  |  |  |
| Net income from continuing operations attributable to common shareholders (GAAP) | $158.6 |  | $125.1 |  | 26.8% |
| Net income margin (GAAP) | 14.0 |  | 12.0 |  |  |
| Adjustments to net income: |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | 2.7 |  | 12.1 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | 44.8 |  | 33.5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 18.3 |  | 16.5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | 7.3 |  | 8.2 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Miscellaneous income, net | (2.1) |  | (0.1) |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net | 1.4 |  | 0.5 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses | 6.8 |  | 9.3 |  |  |
| Adjusted EBITDA (Non-GAAP) | $237.8 |  | $205.1 |  | 15.9% |
| *Adjusted EBITDA Margin (Non-GAAP)* | 21.0 |  | 19.7 |  |  |
| Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding |  |

---

------

**CRANE COMPANY <br>Non-GAAP Financial Measures by Segment**

(unaudited, in millions)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Three Months Ended June 30, 2025** | **Aerospace & Electronics** | **Process Flow Technologies** | **Corporate** | **Total Company** |
| Net sales | $258.2 | $319.0 | $— | $577.2 |
| Operating profit (GAAP) | $67.9 | $63.9 | $(28.9) | $102.9 |
| *Operating profit margin (GAAP)* | *26.3 %* | *20.0 %* |  | *17.8 %* |
| Special items impacting operating profit: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses |  | 0.8 | 4.3 | 5.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net | 0.1 | 1.2 |  | 1.3 |
| Adjusted operating profit (Non-GAAP) | $68.0 | $65.9 | $(24.6) | $109.3 |
| *Adjusted operating profit margin (Non-GAAP)* | *26.3 %* | *20.7 %* |  | *18.9 %* |
| **Three Months Ended June 30, 2024** |  |  |  |  |
| Net sales | $230.9 | $297.7 | $— | $528.6 |
| Operating profit (GAAP) | $52.7 | $59.5 | $(22.9) | $89.3 |
| *Operating profit margin (GAAP)* | *22.8 %* | *20.0 %* |  | *16.9 %* |
| Special items impacting operating profit: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses | 2.2 | 1.3 | 2.4 | 5.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net |  | 0.1 |  | 0.1 |
| Adjusted operating profit (Non-GAAP) | $54.9 | $60.9 | $(20.5) | $95.3 |
| *Adjusted operating profit margin (Non-GAAP)* | *23.8 %* | *20.5 %* |  | *18.0 %* |
| Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding |

---

------

**CRANE COMPANY**

**Non-GAAP Financial Measures by Segment**

(in millions)

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Six Months Ended June 30, 2025** | **Aerospace & Electronics** | **Process Flow Technologies** | **Corporate** | **Total Company** |
| Net sales | $507.1 | $627.7 | $— | $1134.8 |
| Operating profit (GAAP) | $132.5 | $126.7 | $(55.2) | $204.0 |
| *Operating profit margin (GAAP)* | *26.1 %* | *20.2 %* |  | *18.0 %* |
| Special items impacting operating profit: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses |  | 2.3 | 5.7 | 8.0 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges , net | 0.1 | 1.3 |  | 1.4 |
| Adjusted operating profit (Non-GAAP) | $132.6 | $130.3 | $(49.5) | $213.4 |
| *Adjusted operating profit margin (Non-GAAP)* | *26.1 %* | *20.8 %* |  | *18.8 %* |
| **Six Months Ended June 30, 2024** |  |  |  |  |
| Net sales | $456.8 | $582.0 | $— | $1038.8 |
| Operating profit (GAAP) | $101.0 | $116.4 | $(46.8) | $170.6 |
| *Operating profit margin (GAAP)* | *22.1 %* | *20.0 %* |  | *16.4 %* |
| Special items impacting operating profit: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Transaction related expenses | 4.6 | 3.2 | 4.9 | 12.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Repositioning related charges, net |  | 0.5 |  | 0.5 |
| Adjusted operating profit (Non-GAAP) | $105.6 | $120.1 | $(41.9) | $183.8 |
| *Adjusted operating profit margin (Non-GAAP)* | *23.1 %* | *20.6 %* |  | *17.7 %* |
| Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding | Totals may not sum due to rounding |

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------

**CRANE COMPANY <br>Adjusted Free Cash Flow**

(unaudited, in millions, except per share data)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | **Three Months Ended <br>June 30,** | **Three Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** | **Six Months Ended <br>June 30,** |
|<br>**Cash Flow Items** | **2025** | **2024** | **2025** | **2024** |
| Cash provided by (used for) operating activities from continuing operations | $105.0 | $51.3 | $58.8 | $(19.6) |
| Less: Capital expenditures | (16.1) | (6.7) | (30.3) | (14.7) |
| Free cash flow | $88.9 | $44.6 | $28.5 | $(34.3) |
| Adjustments: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Transaction-related expenses | 4.4 | 2.4 | 6.6 | 5.1 |
| Adjusted free cash flow from continuing operations | $93.3 | $47.0 | $35.1 | $(29.2) |
| Free cash flow from Engineered Materials |  | 10.0 |  | (0.1) |
| Adjusted free cash flow | $93.3 | $57.0 | $35.1 | $(29.3) |

---

 

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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "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 transaction related expenses 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "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".

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "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; 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:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "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: transaction related expenses and repositioning related (gains) charges. 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.

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "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: transaction related expenses 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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "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. "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.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• "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. 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.