Crane Beats on Q3, Raises FY26 Adjusted EPS to $7.23-$7.38 and Signs £230M Divestiture
CR sits 23% above its 52-week low of $159.58 on elevated volume (1.9× avg).
Summary
Crane posted record adjusted EPS of $2.05 (up 23%) on 28.1% sales growth and raised full-year adjusted EPS guidance to $7.23-$7.38, while also agreeing to sell its UK Building Services & Utilities unit for £230 million.
Key Events · Earnings and Guidance · CR
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Record Q3 Adjusted EPS, Guidance Raised
Adjusted EPS from continuing operations of $2.05 rose 23% from $1.67, and full-year adjusted EPS guidance was raised and narrowed to $7.23-$7.38 from $6.85-$7.05.
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Sales Up 28.1% on Acquisitions and Core Growth
Total sales of $754.6M grew 28.1%, split between 7.7% core growth and 21.1% acquisition contribution, with total core backlog up 9% year-over-year.
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£230M UK Divestiture Signed
Crane agreed to divest its UK-based Crane Building Services & Utilities business for £230 million, expected to close early in 2027, following the pending ~$240M Trillium U.S. pump acquisition expected to close in Q4.
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Margins Expand to Record 22.5%
Adjusted operating profit of $169.9M rose 35.8% and adjusted operating margin reached a record 22.5%, up 130bps, though GAAP operating margin fell 150bps to 18.6% on $12.6M of transaction costs.
Analysis · CR · Manufacturing
Crane's third quarter came in well ahead of the prior year: adjusted EPS of $2.05 rose 23% and adjusted operating margin hit a record 22.5%, up 130bps, on sales of $754.6M (up 28.1%, with 7.7% core growth and 21.1% from acquisitions). Management raised and narrowed full-year adjusted EPS to $7.23-$7.38 from $6.85-$7.05, a roughly 6% lift at the midpoint, citing acquisitions performing ahead of expectations and 9% core backlog growth. Alongside the results, Crane agreed to divest its UK-based Crane Building Services & Utilities business for £230 million, expected to close early in 2027, which pairs with the pending ~$240M Trillium U.S. pump acquisition expected to close in Q4 to reshape the Process Flow Technologies portfolio toward higher-margin, mission-critical products. The main risk to the thesis is integration and deal execution: transaction-related expenses were $12.6M in the quarter and $47.0M year-to-date, and interest expense jumped to $13.7M from $1.0M a year ago on acquisition-related debt.
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At the time of this filing, CR was trading at $196.75 on NYSE in the Manufacturing sector, with a market capitalization of approximately $11.1B. The 52-week trading range was $159.58 to $230.50. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.