: Crane Co. raises guidance, posts better-than-expected Q1


Crane Co. CR stock rose nearly 5% in the extended session Wednesday after reporting better-than-expected first-quarter earnings and raising its guidance for the year. Crane earned $62 million, or $1.08 a share, in the quarter, compared with $54 million, or 93 cents a share, in the year-ago quarter. Adjusted for one-time items, Crane earned $1.25 a share. Revenue fell 5% to $514 million. Analysts polled by FactSet expected adjusted earnings of 85 cents a share on sales of $486 million. Crane said it remains confident that it can “navigate the current environment despite some mixed demand signals in certain end markets…

This article was originally published by Marketwatch.com. Read the original article here.

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