The company reported full-year 2011 results including:
• 2011 sales of $36.5 billion, up approximately 13% over 2010
   – 8% organic sales growth, again reflecting strong end markets, successful new product launches, and continued expansion in high growth regions
• 2011 proforma earnings (excluding the impact of pension mark-to-market adjustments)  of $4.05 per share, up 35% over $3.00 in 2010; Reported EPS of $2.61 in 2011 versus $2.59 in the prior year
   – Pension mark-to-market adjustment of $1.44 per share calculated using 791.6 million weighted average shares outstanding assuming dilution
• 2011 cash flow from operations of $2.8 billion, includes $1.7 billion cash pension contribution in the year
   – 2011 free cash flow of approximately $3.7 billion, prior to $1.7 billion cash pension contribution

“Honeywell had a terrific 2011,” said Honeywell Chairman and CEO Dave Cote. “We executed across the portfolio with record organic sales growth and segment margins. Our 2011 performance reflects the operational and financial disciplines that underpin the transformation that has taken place at the company over the last 10 years. We deployed the Honeywell 5 Initiatives – Growth, Productivity, Cash, People, and our Enablers, and created a common One Honeywell culture committed to continuous improvement. As a result, we built a better set of businesses with Great Positions in Good Industries, a terrific performance track record, a great leadership team with a truly global focus, a very full pipeline of new products and technologies, and our key process initiatives that are gaining momentum. We’ve come a long way, and we feel even better about our future.”

“While we expect a more challenging macro environment ahead in 2012, primarily driven by softness in Europe impacting the short-cycle businesses, we’re confident that Honeywell is well positioned to continue to outperform,” continued Cote.  “Our long-cycle businesses are accelerating, with Commercial Aerospace OE, UOP, Building Solutions & Distribution, and Process Solutions all having substantial backlog, in total just under $16 billion. While we expect growth to moderate in the first half of 2012, we’re confident that we can drive strong sales conversion leading to higher segment margins over the course of the year.  The investments we’ve made, coupled with our execution track record and disciplined playbook, will be key to our continued outperformance in 2012 and beyond.”

For more information, read the press release or listen to a replay of the Investor Conference Call.

• 3Q11 sales were up 14% to $9.3 billion versus $8.1 billion in 3Q10
    – 8% organic growth reflects continued strength in end markets
• 3Q11 earnings of $1.10 per share, an increase of 45% over $0.76 in 3Q10
    – Segment profit growth and margin expansion in all segments
    – Includes $0.04 benefit from lower tax rate; tax rate favorability expected to be offset in 4Q11
    – Includes $0.33 repositioning and other actions funded by the gain on sale of the divested Consumer Products Group (CPG) business ($0.23, discontinued operations) and OPEB curtailment ($0.10) in the quarter, which will better position the company for 2012 and beyond
• 3Q11 cash flow from operations of $0.7 billion, includes $400 million cash pension contribution
    – 3Q11 free cash flow (cash flow from operations less capital expenditures) of $884 million, excludes $400 million cash pension contribution

The company is raising its 2011 sales and EPS outlook and now expects:
• 2011 sales of $36.5 – 36.7 billion, up approximately 13% over 2010
    – Excludes the divested CPG business, treated as discontinued operations
• 2011 proforma earnings per share of $4.00 – 4.05, up 33 – 35% over 2010
    – Mark-to-market pension adjustments in both periods excluded
• 2011 free cash flow guidance of approximately $3.5 billion, prior to any cash pension contribution

“Honeywell’s strong third quarter results are a continuation of the momentum we’ve seen across our businesses in 2011,” said Honeywell Chairman and CEO Dave Cote.  “Our third quarter sales growth reflects a particularly robust Commercial Aerospace upcycle, with growth in both original equipment and aftermarket sales. It also highlights the company’s extensive innovation pipeline and increasing presence in high growth regions in all our businesses. Our long-cycle backlog continues at near record levels, with sustained strong orders growth particularly at UOP, ACS Solutions, and Commercial Aerospace. Further, our short-cycle businesses, such as Turbo Technologies, Advanced Materials, and ACS Products are performing well overall.” 

“Despite signals of slower economic growth, we expect positive organic growth to continue the rest of this year and into 2012,” concluded Cote. “The repositioning actions we took in the third quarter, funded by non-operational gains, better position our businesses for 2012 and beyond. These repositioning tailwinds, combined with our great positions in good industries, execution track record, and disciplined playbook, will be keys to our continued outperformance.”

For more information, read the press release, watch Chairman and CEO Dave Cote discuss the company’s financial performance on CNBC, or listen to a replay of the Investor Conference Call.

Pictured: Norm Gilsdorf, Honeywell Process Solutions (HPS) President

The 2011 Honeywell Process Solutions’ (HPS) Users Group (HUG) drew more than 1,000 automation users and industry experts from 34 countries at this year’s symposium.

The event offered users a full agenda of more than 100 presentations from customers and Honeywell experts, technology demonstrations, and networking opportunities.

The theme, “Where Technology Shapes Solutions,” resonated throughout the event, including keynote addresses made by Norm Gilsdorf, HPS President, and Tracey Haslam, HPS Americas Vice President, who addressed business challenges and trends facing global economies. Jason Urso, HPS Chief Technology Officer also provided users with a first-hand look at Honeywell’s technology roadmap and new advances for process industries that have been introduced by HPS and other Honeywell businesses.

For more information about the event, including editorial coverage and presentation materials, please visit the Honeywell Users Group website.

Honeywell Chairman and CEO Dave Cote discussed the strong performance in each of Honeywell’s four businesses, the first transatlantic flight which was powered by the company’s biofuels, and U.S. debt and deficit on “Countdown to the Closing Bell” with host Liz Claman on Fox Business News.

During the interview, Cote said each of Honeywell’s four main businesses – Aerospace, Automation and Control Solutions, Transportation Systems, and Specialty Materials – is growing.

“Right now, everything is doing well.  That’s the part that I find interesting – despite all of the dire news that we keep reading, if I take a look at order rates across the board in all of our businesses and all of our regions, everything’s doing pretty darn well right now,” said Cote.  “Whether it’s aerospace where we see growth, anything having to do with controls, which is a big part of our energy efficiency portfolio, the materials side, the chemicals, anything going into petrochemical plants, and turbochargers – all of them are doing very well.”

Cote, a member of the U.S. Commission on Fiscal Responsibility and Reform, also discussed how politics is holding up economic progress in the U.S.

“It’s important for government to recognize that they don’t just regulate business – they enable business.  And too often it seems like government views themselves as the regulator as opposed to the enabler. I wouldn’t mind more discussion about how to enable business, like with energy prices.”

For more information, watch the interview.

Honeywell launched its “Digital Dashboard,” a new Website, which is accessible from the homepage of www.Honeywell.com, and iPad “App” that highlights the company’s differentiated technologies, Great Positions in Good Industries, alignment with key macro trends, and strong financial track record.  The online and mobile format improves access and is more useful and contemporary than glossy annual reports, allowing for a greater variety and quantity of content to be presented in a more compelling and updated way.

The new Website and App feature current stock price information, the latest company news, and hundreds of interactive facts, statistics, animations, photos, and videos that will better help the investment community, customers, employees, government officials, and community leaders understand the breadth and depth of Honeywell’s four businesses – Aerospace, Automation and Control Solutions, Transportation Systems, and Specialty Materials – as well as the company’s terrific growth and financial performance.

For more information, read the press release, visit www.honeywell.com, or download the corporate App from the iTunes App Store.

More than 250 Honeywell gas detectors are protecting crews cleaning up the massive oil spill in the Gulf of Mexico. The package includes GasPoint I fixed-install gas monitors, GasAlertMicro 5 PID personal portable gas monitors, and several horns, strobes, and gas detection accessories.

GasAlertMicro 5 PID was chosen for the cleanup because the instrument uses an advanced photoionization detection technology that can monitor low levels of flammable content in volatile organic compounds including benzene, toluene, ethylbenzene, and xylene. The device monitors five different gases simultaneously including flammable gases such as methane, carbon monoxide, hydrogen sulfide, and oxygen. Ship crews require on-board monitoring of oxygen levels in barge holds and bilges to ensure safe entry there and to detect flammable and toxic gases emanating from the oil.

The GasPoint I fixed-install gas detector is being used on the Toisa Pisces, a merchant vessel retrofitted for Gulf cleanup operations, and Splash, an oil-separating barge with a 3000-barrel onboard storage tank. GasPoint I has relays inside the unit, a product engineering advantage that shaved several hours off the installation time. The gas detection system on both vessels uses a dedicated gas monitoring system. A four-channel controller captures readings from the gas monitors and sends signals directly to alarms and beacons, warning workers when gas levels reach unsafe levels.

For more information, visit Honeywell Analytics.

Honeywell Chairman and CEO Dave Cote appeared on CNBC’s “Mad Money” where he talked about global macro trends, such as energy, safety, and security, and the U.S. economy with TV show host and respected money manager, Jim Cramer.

“I’m a big believer in the phrase ‘Great Positions in Good Industries’ and one of the ways to accomplish that is to focus on macro trends,” said Cote. “Macro trends such as energy generation and energy efficiency are going to be here for a long time.  It is the same thing with anything having to do with safety.  As the world gets more and more people, safety regulations aren’t going to diminish, they are going to get greater. So whether it’s air safety, safety for buildings, safety for homes, personal safety – all that stuff is going to continue to grow.  So, we try to position ourselves in those macro trends.”

Cramer believes Honeywell and other diversified U.S.-based companies can lead the country to emerge from the economic crisis stronger than before.

“Honeywell is a terrific, diversified, industrial outfit that has its mitts in everything from aircraft engines, avionic components, high performance specialty materials, auto parts, like turbochargers that help vehicles meet tighter emission standards, to heating, ventilation and air conditioning or security systems,” said Cramer. “I consider it a beautiful mosaic where each piece works together to form a better company, and therefore, a better stock.”

For more information, watch the full interview.

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.

Honeywell announced it has been selected to help Abu Dhabi Gas Development Company Ltd achieve safe and efficient production at the Shah Gas Development Project, which is expected to significantly increase the Emirate’s domestic gas supply. When it reaches full production capacity in 2014, the site is expected to process some 1 billion cubic feet of gas per day. Abu Dhabi Gas Development Company Ltd is a subsidiary of Abu Dhabi National Oil Co. (ADNOC).

Although the Shah Gas field was discovered more than 40 years ago, dangerously high levels of hydrogen sulfide have prevented ADNOC from extracting the gas, which is critical to domestic and industrial growth in the region. To help reduce the risk of safety incidents, Honeywell is providing its Experion® Process Knowledge System® (PKS) and Safety Manager technologies, which can be integrated to give personnel a complete view of process and safety information across the site. This approach helps operators more effectively manage the safety systems throughout the plant. In addition to this core system, Honeywell will design, engineer and implement a broad array of new technologies and advanced applications that will help the plant operate as efficiently as possible from the first day of production.

Honeywell will provide its OneWireless™ industrial wireless network both inside the plant and at the gathering field well pads to track key personnel and assets during both construction and operational phases. Operations staff will be equipped with wireless gas detectors that will transmit alerts when dangerous gases are detected. They will also have Honeywell’s wireless Dolphin™ handheld and Webpad computers that will allow them to develop consistent and safe operating rounds and procedures and view and manage key control parameters.

For more information, read the press release.

More than 300 of Honeywell’s key customers, partners, leaders, and employees attended Honeywell China’s Technology Day, an opportunity for visitors to learn about the company’s great positions in good industries and differentiated technologies.

Honeywell’s products and solutions related to building and industrial controls, energy efficiency and generation, turbocharging, and aerospace were exhibited and interacted with at the event.

Shane Tedjarati, President and CEO of Honeywell China and India, spoke at Technology Day and emphasized the company’s expanding global presence to bring new product development, manufacturing, and service closer to customers.

“The world is placing great importance on China as the platform for global growth and this offers us good opportunities ahead,” said Tedjarati. “Together with all of you here, we have braved through the difficult times and will definitely do the same to capture the great opportunities that are to come.”

Honeywell’s guests were also invited to the Shanghai World Expo where they were introduced to the Honeywell safety, security, and energy efficiency technologies chosen to protect the properties at the World Expo 2010. A VIP tour was conducted at the USA Pavilion, where Honeywell is a sponsor and is enabling the 6,000 square meter venue to optimize energy efficient technologies for visitors’ comfort and safety.

For more information, watch Shane Tedjarati on CNBC discuss Honeywell’s presence at the World Expo and how China is the fastest growing region for the company.