Crane Q3 Profit Down

(RTTNews) - Crane Co. (CR) Monday reported third-quarter net income of $56.6 million or $0.97 per share, down from $72.5 million or $1.19 per share last year.

Adjusted earnings for the quarter were $1.05 per share, compared to $1.40 per share last year.

Total sales dropped to $734.8 million from $772.3 million last year.

Analysts polled by Thomson Reuters expected an earnings of $0.79 per share and revenues of $670.69 million.

Looking forward, the company now expects full-year 2020 adjusted earnings of $3.75 to $4.00 per share, compared to prior range of $3.30 to $4.10per share. Analysts currently estimate earnings of $3.75 per share on revenues of $2.89 billion.