Crane Co. Raises Low End Of Its 2017 EPS Guidance Range By $0.05 - Quick Facts

(RTTNews) - Crane Co. (CR) increased its 2017 EPS guidance to a range of $4.35-$4.55 from prior range of $4.30-$4.55. The company said its performance in the first quarter gives Crane Co. the confidence to raise the low end of EPS guidance range by $0.05.

First-quarter earnings were $1.05 per share, compared to $0.93 per share in the first quarter of prior year. First quarter sales were $673 million, up 2% compared to $660 million, last year. Core sales increased 4%, partially offset by a 2%, impact from unfavorable foreign exchange, and a small divestiture impact.

Max Mitchell, Crane Co. President and Chief Executive Officer, stated: "First quarter operating results were slightly better than anticipated. End market demand is generally as expected, and we continue to drive productivity, with strong execution evident across our businesses. We are also making consistent progress on growth initiatives throughout the organization."