• Company Forecasts 1-3% Organic Sales Growth in 2010
• 2010 EPS Growth of 1-8% Excluding Non-Cash Pension Expense
• 2010 Continued Strong Operating Cash Flow; FCF Conversion Greater Than 100%
Honeywell announced that it expects 2010 sales of $31.3 to 32.2 billion and earnings per share of $2.20 to 2.40 ($3.00 to 3.20 excluding non-cash pension expense). Free cash flow (cash flow from operations less capital expenditures) is expected to be $2.4 to 2.7 billion (cash flow from operations of $3.1 to 3.4 billion). The company also reaffirmed 2009 full-year guidance of approximately $31 billion of sales, $2.85 earnings per share, and $3.0 billion of free cash flow.
“As we finish 2009, we are seeing signs of improvement in the global economy and stabilization in a number of our end markets,” said Honeywell Chairman and Chief Executive Officer Dave Cote. “This is translating to improved order trends in most of our businesses and provides some encouragement for 2010. We will continue to see the benefits of our seed planting in a robust new product pipeline, strong growth in emerging regions, and progress in the deployment of Honeywell’s major initiatives. Honeywell is very well positioned to capture growth from mega-trends, including energy efficiency, safety, and security.
For more information, read the press release or listen to a replay of a Webcast of the Investor Conference Call.
