All eyes will be on the new boss's strategic vision when Smiths Group (SMIN) unveils half-year results for the six months to January 2016. Andrew Reynolds Smith, who joined from GKN (GKN) in September 2015, started his reign with a bang by revealing a much healthier pension deficit.
Investors will be keen to hear how the extra free cash flow generated from falling annual contributions is spent. Don't be surprised to see the engineer celebrate its healthier balance sheet by bumping up the dividend, alongside the announcement of new measures designed to drive long-term profit growth.
Further cost savings are likely, particularly to mitigate the impact of falling oil prices. Like many of its peers, these proceeds could be reinvested in research and development, and small acquisitions capable of offering geographic and product expansion.
As for general trading patterns, the latest update covering the three months to November suggests business outside of the John Crane division has steadied. Investors will hope new medical product launches and extra screening regulations in transportation succeed in easing the blow caused by the depressed oil price.