Crane Co (CR) Q1 2020 Earnings Call Transcript

Crane Co (CR) Q1 2020 Earnings Call Transcript

I'm Jason Feldman, Vice President of Investor Relations.. On our call this morning, we have Max Mitchell, our President and Chief Executive Officer, and Rich Maue, our Senior Vice President and Chief Financial Officer.. Sales of $798 million declined 4% compared to the prior year, with a 10% decline in core sales.. We have a solid balance sheet at Crane, ample financial flexibility for the current environment, strong track record free cash generation and consistently disciplined capital allocation.. We have a diverse portfolio of strong and resilient businesses that will recover nicely when the markets improve.. You all know that we have an extremely strong track record when it comes to execution and cost management.. We will be ready to emerge from this pandemic in a strong position and ready to gain share from competitors.. All that said, our current best estimate for full-year 2020 is for adjusted EPS of $3.00 to $4.25, and total sales of $2.8 billion to $3.0 billion, reflecting a core sales decline of 17% to 22% driven by end market deterioration related to the COVID pandemic.. The EPS forecast includes incremental cost savings of at least $100 million this year.. We expect the second quarter