• Strong 2002-2011 Financial Track Record Reflecting Consistency of Strategy and Execution
• Reaffirms 2012 Financial Outlook and Narrows Q1’12 EPS Guidance to $0.96 to $0.98, High-End of Previous Range
• On Track to Achieve 2014 Sales and Segment Margin Targets – Continued Outperformance
MORRIS TOWNSHIP, N.J. – March 7, 2012 – Honeywell (NYSE: HON) will hold its annual investor conference in New York City today to discuss its continued evolution and positive outlook. The company will highlight its strong ten-year financial and operational performance track record under the leadership of Dave Cote, Chairman and CEO, and progress towards achieving its 2014 Sales ($41-45 billion) and Segment Margin (16-18%) targets communicated in February 2010.
Over the past 10 years the company has strengthened its portfolio and expanded its global footprint. During that time, Honeywell generated significant growth in sales, earnings, and shareowner returns that have outpaced the overall market.
“The evolution will continue,” said Honeywell Chairman and CEO Dave Cote. “We are building off an increasingly robust foundation, with terrific outperformance in 2011. With our relentless focus on execution and our strengthened portfolio, our strategies of Great Positions in Good Industries, One Honeywell and the Five Initiatives – Growth, Productivity, Cash, People and the Enablers – will continue to provide us a tailwind to outperform the overall market and deliver results for our customers and shareholders. We are working to ensure that the best is still yet to come.”
The company also reaffirms its previously announced 2012 financial outlook and narrows its estimate of expected Q1 2012 earnings per share to $0.96 to $0.98, the high-end of the previously communicated range ($0.93 to $0.98).
Related presentation materials and webcast information for the Honeywell annual investor conference are available at www.honeywell.com/investor prior to the investor meeting. Investors can access a replay of the webcast on the website shortly after the conclusion of the meeting.
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 performance 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