Honeywell Confirms First Quarter Sales of $7.2 - 7.6 Billion, And Updates Earnings Per Share of $0.40 - 0.45
Company to Present its Long-Term Growth Outlook at its Annual Investor Conference on Monday, February 22nd
MORRIS TOWNSHIP, N.J. -- Honeywell (NYSE: HON) announced that it is re-affirming its full-year 2010 financial guidance, including sales of $31.3 - 32.2 billion and earnings per share (EPS) of $2.20-2.40. In addition, the company confirmed first quarter sales guidance of $7.2 - 7.6 billion and updated its first quarter EPS guidance to $0.40 - 0.45, which reflects the company’s continued strong operational performance and excludes the potential negative impact of proposed healthcare legislation that was previously included in its first quarter EPS guidance.
“The outlook for Honeywell is bright,” said Honeywell Chairman and Chief Executive Officer Dave Cote. “We performed well in the last recovery, well in the recession, and will perform even better in this recovery. We continued seed planting throughout the cycle, investing in innovative new products and technologies, which positions us well for growth. We maintained our research and development investment, expanded our emerging region presence, and made further progress on our key process initiatives. This focus allows us to build on our technology differentiation and expand our global footprint. Today, we are building off a much stronger base that will enable us to drive significant growth over the next five years.”
Honeywell will hold its annual investor conference on Monday, February 22 to discuss strategies for its businesses and major markets, including detail on its attractive long-term growth outlook. Related presentation materials and webcast information will be 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 (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.
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