Honeywell Forecasts 2011 Sales of $35-36 Billion; Earnings Per Share of $3.50-3.70 - Seguridad Mania.com - España y América Latina

• Strong Revenue Conversion Drives Margin Expansion • 2011 EPS Growth of 17-24% Excluding 2010 Mark-to-Market Pension Adjustment • Continued Strong Cash Flow in 2011; FCF $3.5 to 3.7B Prior to 2011 Pension Funding

 Honeywell announced that it expects 2011 sales of $35 to 36 billion, up 6 to 9% versus 2010, and earnings per share of $3.50 to 3.70, up 17 to 24% compared to 2010 proforma earnings. Free cash flow (cash flow from operations less capital expenditures) before the planned U.S. pension contribution of $1 billion is expected to be in the range of $3.5 to 3.7 billion (cash flow from operations of $3.3 to 3.5 billion including pension contribution). The company also reaffirmed 2010 full-year guidance of approximately $33 billion in sales, $2.98 earnings per share (proforma), and $3.5 billion of free cash flow (cash flow from operations of approximately $4.1 billion). Earnings per share estimates for 2010 and 2011 include ongoing pension expense and exclude the estimated mark-to-market adjustment in 2010.

“Honeywell’s strong performance in 2010 demonstrates the benefit of having great positions in good industries globally,” said Honeywell Chairman and Chief Executive Officer Dave Cote. “Our short cycle businesses, such as turbochargers and general industrial products, led the way in 2010 with a robust recovery off low 2009 levels. And, our longer cycle businesses, including commercial aerospace, ACS Solutions, and UOP refining technologies, are showing meaningful signs of improvement, with double-digit growth in orders rates. These factors, together with the company’s terrific execution, convey an even stronger 2011 for Honeywell.”

“We’re clearly growing faster than the markets we serve, and combined with the improved outlook for the global economy, we’re confident in our expectations for higher revenues, segment margin expansion, strong cash flow, and double-digit earnings growth in 2011,” continued Cote. “We’ll continue to leverage investments in new products, technology differentiation, emerging market expansion, and our key process initiatives. These are the core elements of the Honeywell playbook and remain essential to our ability to outperform. Our continuous focus on seed planting for growth and productivity has positioned the company for growth next year and over the long-term.”