Crane Misses on the Top and Bottom Lines
Crane (NYS: CR) reported earnings Jan. 23. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Crane missed on revenues and missed on earnings per share.
Compared to the prior-year quarter, revenue expanded, and earnings per share shrank to a loss.
Margins dropped across the board.
Crane tallied revenue of $632 million. The four analysts polled by S&P Capital IQ expected net sales of $650 million. Sales were 10% higher than the prior-year quarter's $574 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions.
Non-GAAP EPS came in at $0.88. The six earnings estimates compiled by S&P Capital IQ predicted $0.90 per share on the same basis. GAAP EPS were -$2.16 for Q4 against $0.67 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Figures may be non-GAAP to maintain comparability with estimates.
For the quarter, gross margin was -30.5%, 6,340 basis points worse than the prior-year quarter. Operating margin was -30.5%, 4,100 basis points worse than the prior-year quarter. Net margin was -19.8%, 2,670 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $653 million. On the bottom line, the average EPS estimate is $0.89.
Next year's average estimate for revenue is $2.7 billion. The average EPS estimate is $3.87.
The stock has a four-star rating (out of five) at Motley Fool CAPS, with 129 members out of 140 rating the stock outperform, and 11 members rating it underperform. Among 54 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 51 give Crane a green thumbs-up, and three give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Crane is outperform, with an average price target of $52.29.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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