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Crane: 3Q Earnings Snapshot

·1 min read

STAMFORD, Conn. (AP) _ Crane Co. (CR) on Monday reported third-quarter profit of $56.6 million.

The Stamford, Connecticut-based company said it had net income of 97 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and restructuring costs, were $1.05 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 82 cents per share.

The maker of engineered industrial products posted revenue of $734.8 million in the period.

Crane expects full-year earnings in the range of $3.75 to $4 per share, with revenue in the range of $2.89 billion to $2.94 billion.

Crane shares have fallen 38% since the beginning of the year. In the final minutes of trading on Monday, shares hit $53.95, a decline of 34% in the last 12 months.

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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