Highlights

  • Second quarter 2026 net sales were $724.7 million, operating profit was $144.3 million and earnings per diluted share were $1.63.
  • Aerospace & Advanced Technologies net sales were $339.1 million and Process Flow Technologies net sales were $385.6 million in the quarter.
  • The company expects 2026 total sales growth in the mid 20%s, including the Druck, Panametrics, Reuter-Stokes and Optek acquisitions.
  • Interest expense was $16.6 million in the quarter, and total long-term debt was $1,087.1 million at June 30, 2026.

Crane Company (NYSE: CR) shares were trading at USD 192.98 on October 27, 2026, up 1.31%, with a relative volume at time of 2.52. The industrial technology company completed its acquisitions of Druck, Panametrics, Reuter-Stokes and a process control optical measurement provider on January 1, 2026, and reported results for the quarter ended June 30, 2026 in a Form 10-Q filed on July 31, 2026, which includes its 2026 outlook.

Crane Company is incorporated in Delaware and lists its principal executive offices in Stamford, Connecticut. It reports two segments. Aerospace & Advanced Technologies serves commercial and military original equipment and aftermarket customers and is organized into Sensing Components & Systems, Electrical Power Solutions, Fluid Management Solutions, Landing & Control Systems and Microwave Solutions. Process Flow Technologies provides engineered products for mission critical applications, including process valves, commercial valves, and pumps and systems. The company's fiscal year ends December 31.

Second Quarter 2026 Results

Net sales were $724.7 million for the three months ended June 30, 2026, compared with $577.2 million in the second quarter of 2025, an increase of 25.6%. The company said acquisitions added $114.5 million, core sales rose $30.0 million, or 5.2%, reflecting higher pricing, and foreign currency translation added $3.0 million.

Cost of sales was $417.2 million, including a reduction of $18.7 million from tariff refunds recognized under the gain contingency model. Operating profit was $144.3 million, compared with $102.9 million, and operating margin was 19.9%, compared with 17.8%. Net income from continuing operations attributable to common shareholders was $95.9 million, compared with $80.3 million, and earnings per diluted share were $1.63, compared with $1.47 in the prior-year quarter.

For the six months ended June 30, 2026, net sales were $1,421.1 million and earnings per diluted share were $2.78, compared with $3.31 a year earlier.

Segment Results

Aerospace & Advanced Technologies net sales were $339.1 million, compared with $258.2 million. Operating profit was $88.9 million, and operating margin was 26.2%, compared with 26.3%. Backlog was $1,267.7 million, compared with $1,052.8 million.

Process Flow Technologies net sales were $385.6 million, compared with $319.0 million. The company reported lower core sales of $4.4 million, or 1.4%, with the Panametrics, Reuter-Stokes and Optek acquisitions adding $68.6 million. Operating profit was $81.6 million, and operating margin was 21.2%, compared with 20.0%. Backlog was $619.6 million, compared with $403.1 million.

Cash Flow, Debt and Capital

Cash provided by operating activities from continuing operations was $92.8 million in the first six months of 2026, compared with $58.8 million. Cash used for investing activities from continuing operations was $1,380.6 million, including cash paid for the acquisitions of Druck, Panametrics, Reuter-Stokes and Optek. Cash and cash equivalents were $350.4 million at June 30, 2026, compared with $506.5 million at December 31, 2025.

Total long-term debt was $1,087.1 million, compared with $1,148.2 million at December 31, 2025, and short-term borrowings were $11.3 million. The company borrowed $900 million under its term facility and $250 million under its revolving facility in December 2025 to fund the acquisitions, and repaid $100 million of the revolving borrowings in the second quarter. Dividends were $0.255 per share in the quarter.

2026 Outlook

The company said it expects 2026 total sales growth in the mid 20%s, including the Druck, Panametrics, Reuter-Stokes and Optek acquisitions, core sales growth at the mid-to-higher end of its long-term 5-6% core growth expectation and a slight foreign exchange benefit. It expects an improvement in operating profit.

For Aerospace & Advanced Technologies, it expects sales to increase in the mid 20%s range and segment operating profit to increase, while it expects operating margin to decline modestly compared with 2025 due to the dilutive impact of the Druck acquisition. For Process Flow Technologies, it expects sales to increase in the mid 20%s, with flat-to-low single digit core sales growth and operating margin relatively flat compared with 2025.