Crane Co. raises guidance, posts better-than-expected Q1

Crane Co. CR stock rose nearly 5% in the extended session Wednesday after reporting better-than-expected first-quarter earnings and raising its guidance for the year. Crane earned $62 million, or $1.08 a share, in the quarter, compared with $54 million, or 93 cents a share, in the year-ago quarter. Adjusted for one-time items, Crane earned $1.25 a share. Revenue fell 5% to $514 million. Analysts polled by FactSet expected adjusted earnings of 85 cents a share on sales of $486 million. Crane said it remains confident that it can “navigate the current environment despite some mixed demand signals in certain end markets…