The 2020 Mid-Year Economic Update_long

Crane Sales Up 15.6% in 2Q

Profit increased 8.9 percent year-over-year.

Crane Co. (NYSE: CR), Stamford, CT, reported sales for the second quarter of $750.1 million, a 15.6 percent increase over the same period a year ago. Profit increased 8.9 percent to $59.7 million.

Aerospace and electronics sales were $177.6 million, a 3 percent increase from 2013 levels. Operating profit decreased 3.1 percent to $35.9 million.

Engineered materials sales were $63.4 million, an increase of 9.8 percent compared to year-ago levels. Operating profit increased 6.5 percent to $9.8 million.

Merchandising systems sales were $184.6 million, an increase of 117.6 percent compared to the same period a year ago. Operating profit increased 110.2 percent to $18.6 million.

Fluid handling sales were $324.5 million, down 2.8 percent from the prior-year quarter. Operating profit fell 3.7 percent $52.2 million.

For the first six months, sales were $1.5 billion, up 14.9 percent over the same period a year ago. Profit was down 3.8 percent to $108.4 million.

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