Honeywell Chairman and CEO Dave Cote appeared on CNBC’s Closing Bell news program to discuss Honeywell’s financial outlook, global economic conditions, and his position on the U.S. Commission on Fiscal Responsibility and Reform with host Maria Bartiromo.
“We’re seeing a rebound. It’s been kind of surprising, but with the exception of commercial aerospace sales, everything else seems to be coming back,” says Cote. “We saw improvements in the U.S., Europe, Asia, China, India, and the Middle East – it was really across the board and it’s one of the reasons why I’m encouraged. Still, we’re staying cautious in our outlook.”
Honeywell expects 2010 sales of $32.4-32.9 billion, earnings in the range of $2.40-2.50 per share on a reported basis ($3.14-3.24, excluding non-cash pension expense), and free cash flow of $3.1-3.3 billion (cash flow from operations of $3.8-4.0 billion).
For more information, read the online CNBC article and watch the interview.
