Industrial conglomerate Crane (NYSE: CR) will be reporting earnings this Monday after the bell. Here’s what to expect.
Crane beat analysts’ revenue expectations last quarter, reporting revenues of $581 million, up 6.8% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ organic revenue estimates and an impressive beat of analysts’ adjusted operating income estimates.
Is Crane a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Crane’s revenue to grow 20.3% year on year, improving from the 9.3% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Crane has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Crane’s peers in the general industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 29%, beating analysts’ expectations by 8.3%, and Dover reported revenues up 10.1%, topping estimates by 2.4%. GE Aerospace traded down 8.9% following the results while Dover was up 4%.
Read our full analysis of GE Aerospace’s results here and Dover’s results here.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 12.6% on average over the last month. Crane is up 9.6% during the same time and is heading into earnings with an average analyst price target of $217.67 (compared to the current share price of $180.07).
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