Crane: 4Q Earnings Snapshot
STAMFORD, Conn. (AP) _ Crane Co. (CR) on Monday reported fourth-quarter net income of $89.2 million, after reporting a loss in the same period a year earlier.
The Stamford, Connecticut-based company said it had profit of $1.46 per share. Earnings, adjusted for non-recurring costs, were $1.64 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.54 per share.
The maker of engineered industrial products posted revenue of $839.7 million in the period, falling short of Street forecasts. Four analysts surveyed by Zacks expected $863.2 million.
For the year, the company reported profit of $335.6 million, or $5.50 per share. Revenue was reported as $3.3 million.
Crane expects full-year earnings in the range of $6.25 to $6.45 per share.
Crane shares have increased nearly 10 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $79.14, a drop of 16 percent in the last 12 months.