UPDATE: Crane Co. (CR) Tops Q1 EPS by 4c, Slight Miss on Revenues; Boosts FY18 EPS Mid-Point Outlook Above Consensus

Crane Co. (NYSE: CR) reported Q1 EPS of $1.31, $0.04 better than the analyst estimate of $1.27. Revenue for the quarter came in at $799 million versus the consensus estimate of $802.6 million.

First Quarter 2018 Highlights:

• GAAP earnings per diluted share (EPS) of $1.13 compared to $1.05 last year; excluding Special Items, EPS of $1.31 increased 25% compared to 2017.
• Raising 2018 GAAP EPS guidance to a range of $4.75-$4.95 vs. prior range of $4.65-$4.85; excluding Special Items, raising 2018 EPS guidance to a range of $5.45-$5.65 vs. prior range of $5.35-$5.55.
• Revising 2018 free cash flow guidance (cash provided by operating activities less capital spending) to $240-$270 million vs. prior range of $220-$250 million.

GUIDANCE:

Crane Co. sees FY2018 EPS of $5.45-$5.65, versus the consensus of $5.52.

For earnings history and earnings-related data on Crane Co. (CR) click here.

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