Company Also Updates Third Quarter Outlook
MORRIS TOWNSHIP, N.J., September 22, 2011 – Honeywell (NYSE: HON) will meet with investors today at the Citi Global Industrials Conference and reaffirm its full-year 2011 financial guidance. The company expects:
• 2011 sales of $36.1-36.7 billion, up 12-14% over 2010
- Excludes the divested Consumer Products Group business (CPG), treated as discontinued
• 2011 proforma earnings per share of $3.85-4.00, up 28-33% over 2010
- Includes discontinued operations of approximately $0.25
- Excludes any mark-to-market pension adjustments
• Maintaining 2011 free cash flow guidance of $3.5-3.7 billion
- Excludes any U.S. cash pension contributions
• 3Q11 sales in the range of $9.1-9.4 billion, up 12-15%
- Healthy organic growth anticipated – 7 to 9%
• 3Q11 earnings of $0.96-1.01 per share – expect earnings near high-end of range
- Includes earnings from discontinued operations (CPG) and assumes full deployment of
after-tax gains from sale of CPG (~$165M) and OPEB curtailments (~$80M)
A real-time audio webcast of the presentation and related presentation materials for the Citi Global Industrials Conference will be posted to http://www.honeywell.com/investor prior to the presentation. The presentation materials will be in Adobe Acrobat format. A replay of the webcast will be available at the same link listed above for 30 days following the presentation.
Honeywell International (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 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.
Robert C. Ferris
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