Q1 2026 Crane Co Earnings Call Transcript
Key Points
- Crane Co (CR) reported a 15% increase in adjusted EPS to $1.65, driven by 4% core sales growth.
- Recent acquisitions, including Druck, Panametrics, Reuter-Stokes, and optek, performed exceptionally well, contributing significantly to the quarter's upside.
- The company raised its adjusted full-year outlook by $0.10 to a range of $6.65 to $6.85, reflecting strong performance and confidence in future delivery.
- Aerospace & Advanced Technologies segment showed strong demand, with core sales up 9.4% and a backlog increase of 14% on a core basis.
- Crane Co (CR) maintains a strong balance sheet with pro forma net leverage at 1.4x, positioning it well for further M&A activities.
- The external environment remains challenging with evolving geopolitical dynamics and macroeconomic uncertainty.
- Commercial aftermarket revenue was down 13% as expected, due to unfavorable year-over-year comparisons.
- Core orders were down 5% year-over-year, driven by an unfavorable comparison within Aerospace and Advanced Technologies.
- The ongoing conflict in the Middle East could potentially impact the balance of 2026, with some shipment lane disruptions and project delays.
- Inflationary pressures, particularly in commodities and freight, are expected to create modest margin pressure as the year progresses.
Welcome to the Crane Company first quarter 2026 earnings conference call. (Operator Instructions)
I would like to now turn the call over to Allison Poliniak, Vice President of Investor Relations.
Please go ahead.
Thank you, operator, and good day, everyone. Welcome to our first quarter 2026 earnings release conference call. I'm Allison Poliniak, Vice President of Investor Relations. On our call this morning, we have Alex Akola, President and Chief Executive Officer; and Rich Maue, our Executive Vice President and Chief Financial Officer; along with Jason Feldman, Senior Vice President, Investor Relations, Treasury and Tax, who's on for Q&A.
We will start off our call with a few prepared remarks from Alex and Rich, after which we'll respond to questions. And just a reminder, the comments we make on this call will include some forward-looking statements. We refer you to the cautionary language at the bottom of our earnings release and also in our annual report, 10-K
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