Crane Company (CR) Q4 2024 earnings summary

Executive summary

• Q4 2024 sales rose 12% to $544 million, with adjusted EPS up 58% to $1.26 and adjusted operating profit up 38%, driven by both core growth and acquisitions.

• Full-year 2024 sales increased 14% to $2.13 billion, with adjusted EPS up 28% to $4.88 and core sales growth of 8%.

• Completed divestiture of Engineered Materials segment, focusing on Aerospace & Electronics and Process Flow Technologies.

• Announced 12% increase in annual dividend and promoted Alex Alcala to Chief Operating Officer.

• Acquisitions of Vian, CryoWorks, and Technifab strengthened the portfolio and contributed to sales.

Financial highlights

• Q4 adjusted EPS was $1.26 (up from $0.80), and full-year adjusted EPS was $4.88, up 28% year-over-year.

• Q4 adjusted operating profit was $96 million (up 38%), and full-year adjusted operating profit was $383 million, up 29%.

• Q4 adjusted EBITDA was $108 million (19.8% margin); full-year adjusted EBITDA was $426.7 million (20.0% margin).

• Q4 adjusted free cash flow was $193 million; full-year adjusted free cash flow was $234 million, exceeding the prior year.

• Year-end cash was $307 million, total debt $247 million, and dividend increased by 12%.

Outlook and guidance

• 2025 adjusted EPS guidance is $5.30–$5.60, reflecting 12% growth at midpoint.

• 2025 revenue guidance is $2,230–$2,270 million, with 4–6% core growth, 1–2% from acquisitions, and a 1-point FX headwind.

• Adjusted segment operating margin targeted at 22.5%+; free cash flow conversion expected to exceed 90%.

• Anticipates another strong year with robust M&A pipeline and capital deployment opportunities.

• Corporate cost expected at $80 million; adjusted tax rate at 23.5%; diluted shares ~59 million.