Crane Co. (CR) Tops Q1 EPS by 3c ; Offers Guidance

Crane Co. (NYSE: CR) reported Q1 EPS of $1.22, $0.03 better than the analyst estimate of $1.19. Revenue for the quarter came in at $565 million versus the consensus estimate of $540.49 million.

GUIDANCE:

Crane Co. sees FY2024 EPS of $4.75-$5.05, versus the consensus of $4.81.

Total sales growth of approximately 10% (prior 8%) driven by core sales growth of approximately 4% to 6% (prior 3% to 5%) and an acquisition benefit of approximately 5% (prior 4%).
Adjusted segment operating margin of ~20.5% (prior 20.1%).
Corporate cost of $75 million (unchanged).
Net non-operating expense of $23 million (prior $20 million).
Adjusted tax rate of 23.5% (unchanged).
Diluted shares of 58 million (unchanged).

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

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