Crane Q2 Profit Rises; Cuts FY14 GAAP EPS Outlook - Quick Facts

(RTTNews) - Crane Co (CR), a maker of engineered industrial products, Monday reported second-quarter net net income attributable to common shareholders of $59.7 million or $1.00 per share, compared to $54.9 million or $0.93 per share in the comparable quarter last year.

Excluding items, adjusted earnings for the quarter were $1.15 per share, compared with $1.06 per share a year ago. On average, four analysts polled by Thomson Reuters projected earnings of $1.16 per share for the quarter. Analysts' estimates typically exclude special items.

Sales for the quarter climbed 15.6% to $751.01 million from $648.75 million in the prior year, while two analysts expected sales of about $746.03 million.

For fiscal 2014, the company lowered its earnings to a range of $4.18 to $4.38 per share frm its prior range of $4.28 to $4.48 per share.

The company continues to expect fiscal 2014 adjusted earnings of $4.55 to $4.75 per share and sales of $3 billion. Analysts now expect earnings of $4.69 per share on sales of $3.04 billion.