Yahoo Finance Earnings To Watch: Crane Company (CR) Reports Q2 Results Tomorrow
Industrial conglomerate Crane Company (NYSE:CR) will be reporting results tomorrow after market close. Here's what to look for.
Crane Company beat analysts' revenue expectations by 3.5% last quarter, reporting revenues of $565.3 million, up 10% year on year. It was a strong quarter for the company, with an impressive beat of analysts' organic revenue estimates and a decent beat of analysts' earnings estimates.
Is Crane Company a buy or sell going into earnings? Read our full analysis here, it's free.
This quarter, analysts are expecting Crane Company's revenue to grow 9.7% year on year to $559.2 million, a reversal from the 3.9% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.22 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 Company has missed Wall Street's revenue estimates four times over the last two years.
Looking at Crane Company's peers in the general industrial machinery segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Dover delivered year-on-year revenue growth of 3.7%, beating analysts' expectations by 1.4%, and Honeywell reported revenues up 4.7%, topping estimates by 1.7%. Dover traded up 5.1% following the results while Honeywell was down 5.1%.
Read our full analysis of Dover'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 10.9% on average over the last month. Crane Company is up 11.1% during the same time and is heading into earnings with an average analyst price target of $156.3 (compared to the current share price of $158.8).
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