Crane Company

Your program is about to begin. Welcome to the Crane Company third quarter 2025 earnings conference call. At this time, all participants have been placed on a listen-only mode, and the floor will be open for your questions following the presentation. If you would like to ask a question at that time, please press star 1 on your telephone keypad. If at any point your question has been answered, you can remove yourself from the queue by pressing star 2. Though others can hear your questions clearly, we ask that you pick up your handset for best sound quality. Lastly, if you should require operator assistance, please press star 0. I would now like to turn the call over to Alison Poliniak, Vice President of Investor Relations.

Thank you, Operator, and good day, everyone. Welcome to our third quarter 2025 earnings release conference call. I'm Allison Kloniak, Vice President of Investor Relations. On our call this morning, we have Max Mitchell, our Chairman, President, and Chief Executive Officer, Alex Alkula, Executive Vice President and Chief Operating Officer, and Rich Malley, our Executive Vice President and Chief Financial Officer, along with Jason Feldman, Senior Vice President, Treasury, Tax, and Investor Relations, who is on for Q&A. We will start off our call with a few prepared remarks from Max, Alex, and Rich. After a bit, we will respond to your questions. 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, and subsequent filings pertaining to forward-looking statements. Also during the call, we will be using some non-GAAP numbers, which are reconciled to the comparable GAAP numbers in tables at the end of our press release and accompanying slides presentation, both of which are available on our website at www.craneco.com in the Investor Relations section. Now, let me turn the call over to Max.

Thank you, Allison, and thanks, everyone, for joining the call today. We are proud to report another strong quarter with results coming in ahead of our expectations. Adjusted EPS was $1.64, driven by an impressive 5.6% core sales growth, primarily reflecting broad-based strength in aerospace electronics and continued strong execution of process flow technologies. This quarter's results yet again underscore our differentiated technologies and operational discipline. In addition to our continued long-term investments in new technology and solutions, the crane business system The machine that we described in great detail at our March investor day combined with our unique culture enables our teams to adopt to the many unforeseen events that we're all facing every day and deliver on the results. Our pending acquisition of precision sensors and instrumentation from Baker Hughes remains on track to close at year end. And our strategic outlook for these businesses has only improved over the last three months. Many work streams are already well underway to ensure a seamless integration and create shareholder value starting day one. Our balance sheet remains very strong. Our pipeline of acquisitions remains robust. And we remain very active on the M&A front. And there's a tremendous amount of momentum and continued innovation happening at Crane. that Alex will cover off. As we exit 2025, we are once again raising but also narrowing our full year adjusted earnings outlook to a range of $5.75 to $5.95 from our prior view of $5.50 to $5.80 given our backlog, consistent execution, and year-to-date performance. That reflects 20% adjusted EPS growth at the midpoint compared to 2024, another outstanding year for Crane and our shareholders. And as we look to 2026, our consistent investment thesis remains firm. The strength of our underlying business, our strategy, and our capabilities in both operational execution and commercial excellence support our 4% to 6% organic growth assumptions leveraging on average of 35% into next year. We will provide greater detail on 2026 expectations as well as PSI in early January once we officially close on the acquisition. Now let me pass it over to our Chief Operating Officer, Mr. Alex Alcala, to provide some color on the current environment and segment performance.