Industrial conglomerate Crane (NYSE:CR) will be reporting results tomorrow after market hours. Here’s what investors should know.
Crane missed analysts’ revenue expectations by 7.8% last quarter, reporting revenues of $548.3 million, up 3.4% year on year. It was a slower quarter for the company, with a miss of analysts’ adjusted operating income and EPS estimates.
Is Crane a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Crane’s revenue to be flat year on year at $533.9 million, slowing from the 9.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.20 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 five times over the last two years.
Looking at Crane’s peers in the industrial machinery segment, some have already reported their Q4 results, giving us a hint as to what we can expect. 3M’s revenues decreased 3.2% year on year, missing analysts’ expectations by 0.8%, and GE Aerospace reported revenues up 27.2%, topping estimates by 14.2%. 3M traded up 5.7% following the results while GE Aerospace was also up 4.5%.
Read our full analysis of 3M’s results here and GE Aerospace’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 6.3% on average over the last month. Crane is up 6.2% during the same time and is heading into earnings with an average analyst price target of $173.43 (compared to the current share price of $161.68).
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