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Crane: 1Q Earnings Snapshot

STAMFORD, Conn. (AP) _ Crane Co. (CR) on Monday reported first-quarter net income of $82.4 million.

The Stamford, Connecticut-based company said it had profit of $1.36 per share. Earnings, adjusted for non-recurring costs, were $1.45 per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.39 per share.

The maker of engineered industrial products posted revenue of $831.7 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $792 million.

Crane expects full-year earnings in the range of $6.25 to $6.45 per share.

Crane shares have climbed 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $87.70, an increase of 3% in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on CR at https://www.zacks.com/ap/CR