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Crane tops Street 1Q forecasts

STAMFORD, Conn. (AP) _ Crane Co. (CR) on Monday reported first-quarter earnings of $63.1 million.

The Stamford, Connecticut-based company said it had profit of $1.05 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1 per share.

The maker of engineered industrial products posted revenue of $673.4 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $652.5 million.

Crane expects full-year earnings to be $4.35 to $4.55 per share.

Crane shares have risen 8 percent since the beginning of the year. In the final minutes of trading on Monday, shares hit $77.91, an increase of 36 percent 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


Keywords: Crane, Earnings Report