Crane Co. Q2 Profit Decreases, but beats estimates

(RTTNews) - Crane Co. (CR) reported a profit for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $45.6 million, or $0.79 per share. This compares with $258.2 million, or $4.54 per share, in last year's second quarter.

Excluding items, Crane Co. reported adjusted earnings of $63.4 million or $1.10 per share for the period.

Analysts on average had expected the company to earn $0.93 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 3.9% to $509.6 million from $530.3 million last year.

Crane Co. earnings at a glance (GAAP) :

-Earnings (Q2): $45.6 Mln. vs. $258.2 Mln. last year. -EPS (Q2): $0.79 vs. $4.54 last year. -Analyst Estimates: $0.93 -Revenue (Q2): $509.6 Mln vs. $530.3 Mln last year.

-Guidance: Full year EPS guidance: $3.80 to $4.10