Crane Provides 2005 Outlook and 2004 Reviews

16.12.2004

  • Sales growth expected in all business segments in 2005
  • Sales for 2005 expected to be approximately $2 billion
  • EPS for 2005 expected to be in the $2.05 - $2.15 range
  • Crane Co. at its annual analyst conference provided its 2005 financial performance outlook and discussed the challenges it faces in meeting the low end of its fourth quarter 2004 earnings per share (EPS) guidance.

    Sales are expected to grow 6 percent in 2005 to approximately $2 billion. Earnings per share in 2005 are expected to be in the range of $2.05 to $2.15. Full year 2004 EPS, as previously provided, is expected to be in the range of $1.95 to $2.00 per share, before the Company's $4.02 per share non-cash charge for the asbestos and environmental settlements. Including the non-cash charge, full year 2004 EPS is expected to be a loss of $2.02 to $2.07 per share. Management noted there will be challenges to achieving the lower end of its fourth quarter 2004 guidance range of $.49 to $.54 per share.

    Management expects free cash flow (cash flow from operations after capital expenditures, but before dividends, and costs related to asbestos and environmental settlements) in 2005 to be approximately $150 million, up slightly from an anticipated $140 million in 2004.

    Source: Crane Co.

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