Crane Co. (CR) Tops Q1 EPS by 5c, Revenues Beat; Affirms FY19 EPS/Revenue Outlook

Crane Co. (NYSE: CR) reported Q1 EPS of $1.45, $0.05 better than the analyst estimate of $1.40. Revenue for the quarter came in at $832 million versus the consensus estimate of $792.38 million.

• GAAP earnings per diluted share (EPS) of $1.36 compared to $1.13 in 2018; excluding Special Items, EPS of $1.45 increased 11% compared to last year.
• Sales of $832 million increased 4% compared to 2018, with core sales growth of 6%.
• Reaffirming full-year GAAP EPS guidance of $6.05-$6.25; excluding Special Items, 2019 EPS guidance is $6.25-$6.45.

Max Mitchell, Crane Co. President and Chief Executive Officer commented: "We had a strong start to the year, with operating results slightly better than expected. All of our businesses are performing well, and we continue to execute on our growth initiatives, as well as productivity and repositioning activities."

GUIDANCE:

Crane Co. sees FY2019 EPS of $6.25-$6.45, versus the consensus of $6.36. Crane Co. sees FY2019 revenue of $3.3 billion, versus the consensus of $3.3 billion.

• Full year 2019 free cash flow (cash provided by operating activities less capital spending) is expected to be in a range of $335 million to $365 million.

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

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