Honeywell Reaffirms 2016 Outlook, Offers 2017 Targets

by Jayson Derrick

March 2, 2016 10:45 AM | 2 min read | Make a Comment

Honeywell International Inc.

HONhosted an Investor Day conference on Wednesday and reaffirmed its first quarter and full-year 2016 guidance in addition to announcing 2017 targets. Honeywell reaffirmed its first quarter earnings per share guidance of $1.48 to $1.53 and full-year earnings per share of $6.45 to $6.70. The company continues to expect its full year revenue to rise 3 to 6 percent from 2015's level and see improvements in its margins and free cash flow. Looking forward to fiscal 2017, Honeywell is targeting an organic sales growth rate of 4 to 5 percent. "Honeywell's Great Positions in Good Industries have positioned the company for growth over the long term," said Honeywell Chairman and CEO Dave Cote. "We continue to outperform against our peers driven by our differentiated technology, new product introductions, expansion of our global footprint, HOS Gold, and the benefit from continued growth investments. We generated double-digit earnings growth in 2015 for the sixth consecutive year, reinforcing the power of our operating systems built on HOS Gold." "Our business model is working," continued Cote. "HOS Gold is driving breakthrough innovation, which allows us to outpace our markets, and we have effective internal processes that generate sustainable growth and productivity even in a slower growth environment. Our expansion in key high growth regions and ability to localize our capabilities will accelerate Honeywell's growth over the remainder of our five-year plan and beyond. Today, more than half of our engineers are focused on software, and, as of 2015, 100% of our businesses developing software are CMMI Maturity Level 5 compatible, which gives us a huge advantage over our competitors and supports double-digit growth in our over $1 billion software portfolio." Shares of Honeywell were trading higher by 0.50 percent at $106.40 after 60 minutes of trading on Wednesday.

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