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SPX expects earnings to rise 24 percent in 2011

Charlotte-based SPX Corp. said today that it expects earnings per share of $4.20 to $4.50 in 2011, an increase of 24 percent over 2010.

The manufacturer also said it expects revenues of $5.2 billion to $5.4 billion, up 5 to 10 percent from 2010.

“We are encouraged going into 2011 and believe we are now in the early stages of recovery,” SPX CEO Christopher Kearney said. “For 2011 we expect organic growth in all four of our segments.”

For 2011, the company also expects:

  • organic revenues to increase 2 to 7 percent from 2010;
  • completed acquisitions and the impact of currency fluctuations to increase reported revenues by approximately 3 percent from 2010;
  • net cash from continuing operations to be $370 million to $410 million;
  • capital expenditures to be approximately $150 million; and
  • free cash flow range to be between $220 and $260 million.

The company has approximately 15,000 employees in more than 35 countries.

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