Crane: 2Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Crane Co. (CR) on Monday reported second-quarter profit of $91 million.
On a per-share basis, the Stamford, Connecticut-based company said it had profit of $1.50. Earnings, adjusted for non-recurring costs, came to $1.58 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The maker of engineered industrial products posted revenue of $841.6 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $836.5 million.
Crane expects full-year earnings in the range of $6.25 to $6.45 per share.
Crane shares have risen 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $86.38, a rise of slightly more than 2% in the last 12 months.