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Stock impact report

Crane Co. Reports First Quarter 2020 Results and Provides Update on COVID-19 Impact

Crane Co. (CR) 
Last crane co. earnings: 4/27 05:01 pm Check Earnings Report
US:NYSE Investor Relations: ir.craneco.com
Company Research Source: Business Wire
STAMFORD, 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 decline of 4% compared to the first quarter of 2019. The sales decline was comprised of an $80 million, or 10%, decline in core sales and $7 million, or 1%, of unfavorable foreign exchange, partially offset by a $54 million, or 7%, benefit from acquisitions. We believe that the core sales decline was largely attributable to COVID-1 Show less Read more
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