Crane Co. Q2 Profit Increases, Beats Estimates

(RTTNews) - Crane Co. (CR) reported earnings for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $71.6 million, or $1.23 per share. This compares with $45.6 million, or $0.79 per share, in last year's second quarter.

Excluding items, Crane Co. reported adjusted earnings of $75.5 million or $1.30 per share for the period.

Analysts on average had expected the company to earn $1.24 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 14.1% to $581.2 million from $509.6 million last year.

Crane Co. earnings at a glance (GAAP) :

-Earnings (Q2): $71.6 Mln. vs. $45.6 Mln. last year. -EPS (Q2): $1.23 vs. $0.79 last year. -Revenue (Q2): $581.2 Mln vs. $509.6 Mln last year.

-Guidance: Full year EPS guidance: $4.95-$5.15