STAMFORD, Conn.--(BUSINESS WIRE)-- Crane Co. (NYSE: CR), a diversified manufacturer of highly engineered industrial products, reported first quarter 2017 earnings of $1.05 per diluted share, compared to $0.93 per share in the first quarter of 2016.
First quarter 2017 sales were $673 million, up 2% compared to $660 million in 2016. Core sales increased $28 million, or 4%, partially offset by a $12 million, or 2%, impact from unfavorable foreign exchange, and a small divestiture impact.
Max Mitchell, Crane Co. President and Chief Executive Officer, stated: "We are pleased with our strong start to the year, with first quarter operating results that were slightly better than anticipated. End market demand is generally as expected, and we continue to drive productivity, with strong execution evident across our businesses. We are also making consistent progress on growth initiatives throughout the organization. Our performance in the first quarter gives us the confidence to raise the low end of our EPS guidance range by $0.05, and we now expect full year EPS of $4.35-$4.55."
Segment Results
All comparisons detailed in this section refer to operating results for the first quarter 2017 versus the first quarter 2016.
