Industrial conglomerate Crane (NYSE: CR) will be reporting earnings this Monday afternoon. Here’s what investors should know.
Crane beat analysts’ revenue expectations by 1.2% last quarter, reporting revenues of $577.2 million, up 9.2% year on year. It was a strong quarter for the company, with full-year EPS guidance beating analysts’ expectations and a solid beat of analysts’ EBITDA estimates.
Is Crane a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, analysts are expecting Crane’s revenue to grow 5.8% year on year to $580 million, improving from the 3.4% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.49 per share.
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 four times over the last two years.
Looking at Crane’s peers in the general industrial machinery segment, some have already reported their Q3 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 36.2%, beating analysts’ expectations by 11.7%, and Honeywell reported revenues up 7%, topping estimates by 2.6%. GE Aerospace traded down 1.6% following the results while Honeywell was up 4.6%.
Read our full analysis of GE Aerospace’s results here and Honeywell’s results here.
There has been positive sentiment among investors in the general industrial machinery segment, with share prices up 3.7% on average over the last month. Crane is up 5.3% during the same time and is heading into earnings with an average analyst price target of $211.88 (compared to the current share price of $191.76).
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