Crane Co. Q1 Profit Increases, beats estimates

(RTTNews) - Crane Co. (CR) revealed a profit for its first quarter that increased from the same period last year and beat the Street estimates.

The company's earnings came in at $61.8 million, or $1.08 per share. This compares with $54.1 million, or $0.93 per share, in last year's first quarter.

Excluding items, Crane Co. reported adjusted earnings of $71.6 million or $1.25 per share for the period.

Analysts on average had expected the company to earn $0.85 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 4.7% to $513.8 million from $538.9 million last year.

Crane Co. earnings at a glance (GAAP) :

-Earnings (Q1): $61.8 Mln. vs. $54.1 Mln. last year. -EPS (Q1): $1.08 vs. $0.93 last year. -Analyst Estimate: $0.85 -Revenue (Q1): $513.8 Mln vs. $538.9 Mln last year.

-Guidance: Full year EPS guidance: $3.60-$3.90