MORRIS PLAINS, N.J.,
May 14, 2019 /PRNewswire/
-- Honeywell (NYSE: HON) will host its annual investor
conference at the company's Morris
Plains, N.J., facility today, led by Chairman and Chief
Executive Officer Darius Adamczyk.
The company's leadership team will provide an update on Adamczyk's
key priorities; highlight the multiple levers for continued sales
growth, margin expansion and free cash flow growth; and outline the
next phase of transformation following the 2018 spin-offs.
"We are excited to speak with the investment community today
about the progress we are making on a number of initiatives, as
well as the tremendous growth opportunities we see across all of
our businesses," Adamczyk said. "Throughout 2018, we continued to
deliver on our commitments even as we completed two successful
spin-offs and invested in our businesses for future growth and
profitability. Financially, we are in a very strong position. Our
efforts to drive organic growth are working, including our
Connected Enterprise, High Growth Regions, and breakthrough
initiatives. We have continued to expand margins through our focus
on productivity. Because of the actions we took in 2018 and our
improved free cash flow performance, our balance sheet has never
been stronger, which positions us well to weather any economic
environment.
"Today, we embark on the next phase of Honeywell's
transformation with a strengthened and unified Honeywell Connected
Enterprise, a vision for creating the supply chain of the future,
and a plan to create a fully digitized internal organization,"
Adamczyk said. "We remain confident in our long-term financial
framework and in Honeywell's ability to deliver shareowner value in
2019 and for many years to come. This is an exciting time to be
part of Honeywell, whether you are an employee, a customer, or a
shareowner."
As part of the conference, the company will reaffirm
second-quarter earnings per share guidance of $2.05 to $2.10 and
full-year earnings per share guidance of $7.90 to $8.15.
Presentation materials and webcast information for the Honeywell
investor conference, including a replay of the webcast following
the event, will be available at www.honeywell.com/investor.
Honeywell (www.honeywell.com) is a Fortune 100 technology
company that delivers industry specific solutions that include
aerospace products and services; control technologies for buildings
and industry; and performance materials globally. Our technologies
help everything from aircraft, buildings, manufacturing plants,
supply chains, and workers become more connected to make our world
smarter, safer, and more sustainable. For more news and information
on Honeywell, please visit www.honeywell.com/newsroom.
This release contains certain statements that may be deemed
"forward-looking statements" within the meaning of Section 21E of
the Securities Exchange Act of 1934. All statements, other than
statements of historical fact, that address activities, events or
developments that we or our management intends, expects, projects,
believes or anticipates will or may occur in the future are
forward-looking statements. Such statements are based upon certain
assumptions and assessments made by our management in light of
their experience and their perception of historical trends, current
economic and industry conditions, expected future developments and
other factors they believe to be appropriate. The forward-looking
statements included in this release are also subject to a number of
material risks and uncertainties, including but not limited to
economic, competitive, governmental, and technological factors
affecting our operations, markets, products, services and prices.
Such forward-looking statements are not guarantees of future
performance, and actual results, developments and business
decisions may differ from those envisaged by such forward-looking
statements. We identify the principal risks and uncertainties that
affect our performance in our Form 10-K and other filings with the
Securities and Exchange Commission.
This release contains financial measures presented on a non-GAAP
basis. Honeywell's non-GAAP financial measures used in this release
are as follows: segment profit, on an overall Honeywell basis, a
measure by which we assess operating performance, which we define
as operating income adjusted to exclude the impact of stock
compensation expense, repositioning and other charges, and pension
and other postretirement service costs; segment margin, on an
overall Honeywell basis, which we define as segment profit divided
by sales; organic sales growth, which we define as sales growth
less the impacts from foreign currency translation, and
acquisitions and divestitures for the first 12 months following
transaction date; free cash flow, which we define as cash flow from
operations less capital expenditures. Management believes
that, when considered together with reported amounts, these
measures are useful to investors and management in understanding
our ongoing operations and in the analysis of ongoing operating
trends. These metrics should be considered in addition to, and not
as replacements for, the most comparable GAAP measure. A
quantitative reconciliation of segment profit, on an overall
Honeywell basis, to operating income has not been provided for
forward-looking measures of segment margin as management cannot
reliably predict or estimate, without unreasonable effort, the
impact and timing on future operating results arising from items
adjusted from segment profit. The information that is unavailable
to provide a quantitative reconciliation could have a significant
impact on our reported financial results.
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Contacts:
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Media
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Investor
Relations
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Nina
Krauss
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Mark
Macaluso
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(973)
455-4253
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(973)
455-2222
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nina.krauss@honeywell.com
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mark.macaluso@honeywell.com
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SOURCE Honeywell