Cooper Industries' (CBE) CFO Issues '09, '10 Outlook at Citi Industrial Conference
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Currently speaking at Citi's Industrial Conference, Cooper Industries' (NYSE: CBE) CFO, Terry Klebe, is offering some guidance:
- sees year-end free cash flow over $650 million
- sees year-end sales down 20-23%
- sees FY09 operating margin down 220 basis points
- sees FY09 net debt of $547 million
- seeing improvement in several end markets, with modest improvement in 2010
- "comfortable" with Q4 outlook
- sees '10 industrial sales growth
- sees '10 utility sales growth "average to above-average"
- sees '10 residential revenue growth, commercial sales down
- sees '10 free cash flow similar to the '09 level
- in 2010, sees a return to normal salary increases
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