Strong Financial Performance
Adjusted EPS was reported at $1.49, driven by a 6.5% core sales growth. Core orders increased nearly 20% in the quarter, reflecting strength across Aerospace & Electronics and Process Flow Technologies segments.
Significant Acquisition
Crane announced the acquisition of Precision Sensors & Instrumentation businesses from Baker Hughes, which is expected to enhance long-term performance and broaden unique capabilities.
Robust Backlog
Aerospace & Electronics segment reported a record backlog of just over $1 billion, up 29% year-over-year and 9% sequentially, indicating strong future sales potential.
Raised Full Year Earnings Outlook
The full-year adjusted earnings outlook was raised to a range of $5.50 to $5.80, up from the prior view of $5.30 to $5.60, reflecting confidence in future performance.
Continued M&A Opportunities
The company maintains a strong balance sheet with capacity for additional M&A, and a robust pipeline of potential acquisition opportunities.