Crane Co. (NYSE: CR) reported Q4 EPS of $1.18, $0.01 better than the analyst estimate of $1.17. Revenue for the quarter came in at $714 million versus the consensus estimate of $702.5 million.

Raising 2018 Guidance

On December 5, 2017, Crane Co. introduced preliminary 2018 full year earnings guidance of $4.85-$5.05 per diluted share, excluding any potential impact from the then-pending Crane Currency acquisition. (Please see the attached Non-GAAP Financial Measures tables.)

We now expect 2018 full year GAAP EPS of $4.65-$4.85. Excluding Special Items, we expect 2018 full year EPS of $5.35-$5.55. Guidance assumes core sales growth of +2% to +4%, a modest benefit from favorable foreign exchange, and approximately $400 million of sales contribution from the Crane Currency acquisition.

Full year 2018 free cash flow (cash provided by operating activities less capital spending) is expected to be in a range of $220-$250 million, including capital expenditures of approximately $125 million. Capital expenditures are expected to be elevated in 2018 primarily due to repositioning activities, further investments enabled by the TCJA, and investment activity at Crane Currency.

Segment Results

GUIDANCE:

Crane Co. sees Q1 2018 EPS of $5.35-$5.55, versus the consensus of $5.16.

For earnings history and earnings-related data on Crane Co. (CR) click here.