Crane reaffirms FY12 EPS $3.75-$3.85 ex-items, consensus $3.75 The EPS guidance includes 4c associated with the first half profits from discontinued operations, but excludes the following Special Items: the gain from the previously announced sale of two businesses, 33c per share, and repositioning costs, 26c per share. The 2012 EPS guidance also assumes a 5c per share benefit associated with a potential retroactive application of the Research and Development tax credit still under consideration in Congress. Full year 2012 free cash flow remains in a range of $150M-$180M.
Crane lowers FY15 ex-items EPS view to $4.10-$4.30 from $4.30-$4.50 Consensus $4.35. Management now expects FY15 core sales in a range of down 1% to up 1%, compared to its prior range of flat to up 2%.