Crispr Therapeutics shares tumble after significant earnings miss
NEW YORK - Crane Co. (NYSE: CR) reported fourth quarter earnings that fell short of analyst expectations, but provided an upbeat outlook for 2025 that sent shares slightly higher in after-hours trading Monday.
The company's shares edged up 0.46% in after-hours trading following the release of the earnings report.
The industrial products manufacturer posted adjusted earnings per share of $1.26 for the fourth quarter, missing the consensus estimate of $1.29. Revenue came in at $544 million, below analyst projections of $578.57 million.
Despite the earnings miss, Crane's fourth quarter sales rose 12% year-over-year, driven by 8% core sales growth and a 4% contribution from acquisitions. The company's Aerospace & Electronics segment saw sales increase 11% to $237 million, while Process Flow Technologies revenue grew 13% to $307 million.
"Crane Company (NYSE:CR) had an exceptional year with both segments executing at a high level. As a result, we delivered 8% core sales growth with 28% adjusted EPS growth in 2024," said Max Mitchell, Crane's Chairman, President and CEO.
Looking ahead, Crane initiated its full year 2025 adjusted EPS guidance in the range of $5.30 to $5.60, reflecting 12% growth at the midpoint compared to 2024. The company expects total sales growth of approximately 5% in 2025.
Crane also announced a 12% increase in its quarterly dividend to $0.23 per share.
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