Crane Co. Raises 2018 EPS Guidance - Quick Facts

(RTTNews) - Crane Co. (CR) increased 2018 full year GAAP EPS guidance to a range of $4.75-$4.95, compared to the prior range of $4.65-$4.85. The company now expects 2018 EPS, excluding special items, of $5.45-$5.65, compared to the prior range of $5.35-$5.55. The company said its full year 2018 free cash flow is now expected to be in a range of $240-$270 million, compared to the prior range of $220-$250 million.

Crane Co. reported first-quarter earnings per share of $1.13, compared to $1.05 per share, prior year. Excluding special items, first quarter EPS increased 25% to $1.31.

First quarter sales were a record $799 million, an increase of 19% compared to $673 million in the first quarter of 2017. The company said the sales increase was comprised of a $103 million, or 15%, benefit from acquisitions, and a $28 million, or 4%, benefit from favorable foreign exchange, partially offset by a core sales decline of $5 million, or 1%.

Crane Co. also announced its regular quarterly dividend of $0.35 per share for the second quarter of 2018. The dividend is payable on June 8, 2018 to shareholders of record as of the close of business on May 31, 2018.