UPDATE: Crane Co. (CR) Misses Q1 EPS by 10c, Revenues Miss; Updated FY20 EPS/Revenue Guidance Below Consensus
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Crane Co. Reports First Quarter 2020 Results and Provides Update on COVID-19 Impact
April 27, 2020 5:01 PM EDTSTAMFORD, Conn.--(BUSINESS WIRE)-- Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, reported first quarter 2020 GAAP earnings per diluted share (EPS) of $1.05, compared to $1.36 in the first quarter of 2019. Excluding Special Items, first quarter 2020 EPS was $1.15, compared to $1.45 in the first quarter of 2019. We estimate that COVID-19 related factors reduced both GAAP and adjusted EPS in the first quarter by approximately $0.15-$0.20. (Please see the attached Non-GAAP Financial Measures tables for a detailed reconciliation of reported results to adjusted measures.)
First quarter 2020 sales were $798 million, a... More
