HON Maintains FY11 Outlook - Analyst Blog
September 23 2011 - 3:45AM
Zacks
Honeywell International
Inc. (HON) reiterated its full-year 2011 financial
guidance and expects its third-quarter 2011 earnings per share to
be at the high-end of its guidance range. Sales for 2011 are
anticipated to be in the range of $36.1-36.7 billion, representing
an increase of 12% to 14% from 2010 sales. The divested Consumer
Products Group business (CPG) is excluded from 2011 sales
guidance.
Proforma earnings per share,
including 25 cents per share from discontinued operations, is
expected to be in the range of $3.85-4.00, up 28% to 33% over 2010.
Free cash flow guidance for the year remained unchanged at $3.5
billion to $3.7 billion, excluding the U.S. cash pension
contributions.
The company expects third-quarter
2011 sales to be in the range of $9.1-9.4 billion, up 12-15% year
over year. Earnings per share are expected to be at the high end of
the guidance range of 96 cents to $1.01. Earnings for the quarter
include earnings from discontinued operations (CPG) and considers
full deployment of after-tax gains from sale of CPG and OPEB
curtailments.
Honeywell’s short-cycle businesses
as well as its commercial aerospace spares and residential and
commercial retrofit businesses are performing impressively well and
are expected to support future growth outlook of the company. The
savings incurred from the implementation of Honeywell’s building
techniques will be used for development without any need for
outside funding. Further, the program will create job facilities
for local contractors and housing authority residents.
Based in Morris Township, N.J.,
Honeywell International Inc. is a Fortune 100 company, providing
technical and manufacturing support to customers worldwide. It also
provides aerospace products and services; control technologies for
buildings, homes and industry; automotive products; turbochargers;
and specialty materials. Major competitors of Honeywell are
BorgWarner Inc. (BWA), United Technologies
Corp. (UTX) and Johnson Controls Inc.
(JCI).
We currently maintain our Neutral
rating on Honeywell, with a Zacks #3 Rank (Hold recommendation)
over the next one-to-three months.
BORG WARNER INC (BWA): Free Stock Analysis Report
HONEYWELL INTL (HON): Free Stock Analysis Report
JOHNSON CONTROL (JCI): Free Stock Analysis Report
UTD TECHS CORP (UTX): Free Stock Analysis Report
Zacks Investment Research
BorgWarner (NYSE:BWA)
Historical Stock Chart
From Sep 2024 to Oct 2024
BorgWarner (NYSE:BWA)
Historical Stock Chart
From Oct 2023 to Oct 2024