The 2020 Mid-Year Economic Update_long

Crane Co. Sales Up 14.1% in Third Quarter

Core sales for the diversified manufacturer grew 0.3 percent.

Crane Co. (NYSE: CR), Stamford, CT, reported third-quarter sales of $727.4 million, up 14.1 percent over the same period a year ago. Core sales increased 0.3 percent.

Profit for the diversified manufacturer fell 51 percent to $28.1 million.

“While overall margins were strong, third quarter results fell short of our expectations primarily as a result of lower core sales in our fluid handling business,” President and CEO Max Mitchell said.

Third-quarter fluid handling sales fell 2.4 percent, while aerospace and electronics sales fell 1.5 percent. Engineered materials sales grew 4.5 percent, and payment & merchandising technologies revenue more than doubled.

For the first nine months, sales were $2.2 billion, up 15 percent year-over-year. Profit fell 20 percent to $136.5 million.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.