Honeywell Forecasts 2010 Sales of $31.3-32.2 Billion; Earnings Per Share of $2.20-2.40
December 16 2009 - 8:00AM
PR Newswire (US)
- Company Forecasts 1-3% Organic Sales Growth in 2010 - 2010 EPS
Growth of 1-8% Excluding Non-Cash Pension Expense - 2010 Continued
Strong Operating Cash Flow; FCF Conversion Greater Than 100% MORRIS
TOWNSHIP, N.J., Dec. 16 /PRNewswire-FirstCall/ -- Honeywell (NYSE:
HON) announced today that it expects 2010 sales of $31.3 to 32.2
billion and earnings per share of $2.20 to 2.40 ($3.00 to 3.20
excluding non-cash pension expense). Free cash flow (cash flow from
operations less capital expenditures) is expected to be $2.4 to 2.7
billion (cash flow from operations of $3.1 to 3.4 billion). The
company also reaffirmed 2009 full-year guidance of approximately
$31 billion of sales, $2.85 earnings per share, and $3.0 billion of
free cash flow. "As we finish 2009, we are seeing signs of
improvement in the global economy and stabilization in a number of
our end markets," said Honeywell Chairman and Chief Executive
Officer Dave Cote. "This is translating to improved order trends in
most of our businesses and provides some encouragement for 2010. As
usual, we're planning conservatively, assuming modest organic
growth, with an emphasis on strong cost controls and disciplined
investments. We will continue to see the benefits of our seed
planting in a robust new product pipeline, strong growth in
emerging regions, and progress in the deployment of Honeywell's
major initiatives. This strategy has enabled the company to deliver
on its commitments in 2009 and gives us momentum going into 2010.
Honeywell is very well positioned to capture growth from
mega-trends, including energy efficiency, safety, and security. Our
world-class technologies and leading positions should enable us to
outperform when economic conditions fully recover." Honeywell will
discuss its 2010 outlook during its investor conference call and
Webcast starting at 9:00 a.m. EST today. To participate on the
conference call, please dial (719) 325-2106 a few minutes before
the 9:00 a.m. EST start. Please mention to the operator that you
are dialing in for Honeywell's investor conference call. The live
Webcast of the call will be available through the "Investor
Relations" section of the company's Website
http://www.honeywell.com/investor. Investors can access a replay of
the conference call from 12:00 p.m. EST, December 16, until
midnight, December 23, by dialing (719) 457-0820. The access code
is 2801493. Honeywell (http://www.honeywell.com/) is a Fortune 100
diversified technology and manufacturing leader, serving customers
worldwide with aerospace products and services; control
technologies for buildings, homes, and industry; automotive
products; turbochargers; and specialty materials. Based in Morris
Township, N.J., Honeywell's shares are traded on the New York,
London, and Chicago Stock Exchanges. For more news and information
on Honeywell, please visit http://www.honeywellnow.com/. 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. Contacts: Media Investors Robert C. Ferris Elena Doom
973-455-3388 973-455-2222 DATASOURCE: Honeywell CONTACT: Media,
Robert C. Ferris, +1-973-455-3388, , or Investors, Elena Doom,
+1-973-455-2222, Web Site: http://www.honeywell.com/
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