Crane Co. Q3 Profit Increases, Beats Estimates

(RTTNews) - Crane Co. (CR) released a profit for its third quarter that increased from last year and beat the Street estimates.

The company's earnings came in at $77.3 million, or $1.33 per share. This compares with $55.2 million, or $0.96 per share, in last year's third quarter.

Excluding items, Crane Co. reported adjusted earnings of $80.3 million or $1.38 per share for the period.

Analysts on average had expected the company to earn $1.32 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.7% to $597.2 million from $530.1 million last year.

Crane Co. earnings at a glance (GAAP) :

-Earnings (Q3): $77.3 Mln. vs. $55.2 Mln. last year. -EPS (Q3): $1.33 vs. $0.96 last year. -Revenue (Q3): $597.2 Mln vs. $530.1 Mln last year.

-Guidance: Full year EPS guidance: $5.05 - $5.20