Crane Co. Issues 2020 Earnings Guidance; Raises Dividend - Quick Facts

(RTTNews) - Crane Co. (CR) announced, for 2020, the company projects earnings, excluding special items, of $6.20-$6.50. Analysts polled by Thomson Reuters expect the company to report profit per share of $6.45. Analysts' estimates typically exclude special items.

Based on current medium-term outlook, including both the completion of the U.S. Government's currency destocking and resumption of 737-MAX production during 2020, Crane said it is on-track to achieve previously disclosed 2021 adjusted EPS target of $7.50-$8.00.

Excluding special items, fourth quarter earnings per share was $1.58 compared to $1.64, last year. On average, eight analysts polled by Thomson Reuters expected the company to report profit per share of $1.57 for the quarter.

Fourth quarter sales were $838 million, a slight decline compared to the fourth quarter of 2018. Analysts expected revenue of $824.22 million for the quarter.

Crane Co. announced its Board declared a 10% increase in its quarterly dividend, to $0.43 per share. The dividend is payable on March 11, 2020 to shareholders of record as of the close of business on February 28, 2020.