Crane Co. Earnings Up; Materials Segment Dips

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Crane Co., parent group of materials supplier Crane Composites, reported the company’s third quarter operating profit climbed 11 percent to reach $104 million.

Meanwhile, the company’s engineered materials segment was driven higher by RV sales, but gains in the segment were partially offset by lower sales in the transportation market, according to the report.

In a news release Monday (Oct. 24), profit in the materials segment dropped $2 million to hit $11 million for the third quarter, despite slightly higher sales in the 2016 period.

Third quarter profit margin for the materials segment dipped from 19.9 percent in the third quarter of 2015, to 17.7 percent in the recent quarter.

The parent company reported sales in the quarter were $694 million, an increase of 4 percent compared to $670 million in the third quarter of 2015. Core sales increased $37 million, or 5.5 percent, partially offset by a $12-million impact from unfavorable foreign exchange.


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