Honeywell teamed up with Rebuilding Together of Polk County in Florida and two local Boys and Girls Clubs on six community service projects across the county and in Orlando as part of the company’s annual sales meeting. More than 1,000 Honeywell executives and employees volunteered their time and completed more than 3,500 hours of community service.

Honeywell Hometown Solutions, Honeywell’s corporate citizenship initiative, donated more than $45,000 in materials.

Since 2003, more than 9,000 Honeywell employees have dedicated 71,000 volunteer hours to 306 projects in the United States, Canada, and Mexico, resulting in more than $8 million in market value repairs.

For more information read the Polk County Democrat article about the event or visit the Honeywell Hometown Solutions website.

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.

Honeywell acquired Fire Sentry Corporation, a privately-held manufacturer of innovative fire detection and control products for a broad range of industrial markets. The terms of the transaction were not disclosed.

Based in Yorba Linda, California, Fire Sentry’s product portfolio consists of fast-responding electro-optical flame detectors, portable test lamps, and dedicated control panels that are used by customers in industrial settings such as petrochemical, semiconductor, paint booth/finishing, automobile airbags, and munitions plants. Fire Sentry’s products are designed to ensure rapid, accurate, and reliable detection of both hydrocarbon and non-hydrocarbon fires within a single device.

The acquisition will help Honeywell significantly expand its gas and flame detection, and monitoring solutions and builds on the company’s acquisitions of System Sensor in 1984 and Zellweger Analytics in 2005 among other important acquisitions in the gas detection arena. The company will be integrated into Honeywell Life Safety and will extend significant synergies in distribution channels, vertical end-markets, and global end-users.

For more information, read the press release.

Honeywell was selected to overhaul the video surveillance system at Casino Niagara, one of the top tourism attractions in Canada’s famed Niagara Falls. The project includes retrofitting the existing surveillance network with IP video technology that will allow casino officials to use a single command and control center to view and remotely manage the systems at both Casino Niagara and its nearby sister facility, Fallsview Casino.

The project calls for Honeywell to provide its MAXPRO® VMS (video management system) and VideoBloX video and audio matrix to oversee the casino, which encompasses 1,600 slot machines, 28 gaming tables, a 12-table poker room and several other attractions. Additionally, it will upgrade the casino’s VCR recording system to an enterprise-wide digital recorder network.

In addition to MAXPRO VMS, Honeywell’s wide portfolio of entry level-to-enterprise IP offerings includes IP-based network video recorders (NVRs), hybrid digital video recorders (DVRs) and a full line of cameras. These offerings are designed to help organizations simplify the transition from analog to IP video surveillance.

For more information, read the press release or visit the Honeywell Security website.

Honeywell announced its 2012 financial outlook including:

 • Sales of $37.8-38.9 billion, up 4-7% over 2011 estimated sales
        – 4-6% organic growth expected
  • Earnings per share (EPS) of $4.25-4.50, an increase of 6-12% over prior year
        – Strong sales conversion drives 40-70 basis points margin expansion
        – Proforma EPS from continuing operations up 13-19%
        – Mark-to-market pension adjustments in both periods excluded
  • Free cash flow (cash flow from operations less capital expenditures) of approximately $3.5 billion
       – Free cash flow conversion of approximately 100%
       – 2012 free cash flow guidance excludes any cash pension contributions

The company also reaffirmed its 2011 full-year guidance, expecting:
  • Sales of approximately $36.5 billion, up 13% over 2010
       – Excludes the divested CPG business, treated as discontinued operations
  • Proforma earnings per share of approximately $4.03, up 34% over 2010
       – Mark-to-market pension adjustments in both periods excluded
  • Free cash flow guidance of approximately $3.5 billion, excluding cash pension contributions

“Honeywell’s 2011 performance significantly adds to our performance track record and highlights the strength of our portfolio, robust new product pipeline, and expansion in high-growth regions,” said Honeywell Chairman and Chief Executive Officer Dave Cote.  “Our long-cycle backlog continues at record levels, with sustained strong orders growth particularly at UOP, Process and Building Solutions, and Commercial Aerospace. Further, our short-cycle businesses, such as Turbo Technologies, Advanced Materials, and ACS products performed well throughout 2011.”

“We’re planning for a more challenging macro environment in 2012,” continued Cote.  “While key economic indicators show slower year-over-year growth in GDP and industrial production globally, we expect to grow faster than the end markets we serve, mainly driven by our robust long-cycle backlog of almost $16 billion, strong commercial aerospace aftermarket growth, and continued contributions from our short-cycle businesses. We feel confident that our portfolio mix and continued margin expansion will deliver strong earnings growth and free cash flow conversion in 2012.”

For more information, listen to a replay of the Investor Conference call.

Honeywell has named Briand Greer President of Aerospace Asia Pacific. Greer is based in Shanghai and will report to Tim Mahoney, President and CEO of Honeywell Aerospace. Greer succeeds Mark Howes, who will be returning to Phoenix, Arizona, to continue a role within the Aerospace Leadership Team.

As president of Honeywell Aerospace in Asia Pacific, Greer will oversee direct Honeywell operations across six countries and broader field operations across a network of 14 countries in the region. 
 
“Briand has more than 20 years of experience in the aerospace industry,” said Mahoney. “Briand’s deep understanding of our technologies and capabilities, combined with his track record of growing our Aerospace business globally, will be critical to strengthening our position in Asia Pacific and help advance China’s aviation industry.”

Greer was most recently Vice President of China Growth at Honeywell Aerospace, in which he was responsible for all strategic growth initiatives with the Aviation Industry Corporation of China (AVIC) and other entities across the region. Previously, Greer has held positions with Honeywell as Vice President of Global Sales and Business Development for the Defense & Space business unit and as Vice President of Airline Sales, where he was responsible for global airline sales, business development strategies and execution.  Greer has traveled and done business in Asia for the past 15 years and has led aerospace business development in China for the last seven years.

For more information, read the press release.

Honeywell celebrated the grand opening of the University of British Columbia (UBC) Centre for Interactive Research on Sustainability (CIRS), a living laboratory for researchers to teach, test, and study the long-term impact of sustainable practices and technologies.

Featuring advanced building controls, sensing technology, and management software from Honeywell, CIRS will serve as a leading academic hub to test and advance sustainable technologies before broader implementation, and operate as a center for green building policymakers to establish future standards. CIRS is one of only a handful of buildings worldwide that will provide “net positive” benefits to the environment. It reduces UBC’s carbon emissions, powers itself and a neighboring building with renewable and waste energy, and provides water for inhabitants with rainwater treated onsite.

Honeywell installed heating and cooling, fire alarm, and security technology in the building, and is using its Enterprise Building Integrator (EBI) to tie these and more than 80 other third-party systems into a single interface that will help the university operate the centre more efficiently and cost effectively. UBC and Honeywell also worked to ensure CIRS is one of the most sustainable buildings in the world. The research facility was built to Leadership in Energy and Environmental Design (LEED) Platinum and Living Building Challenge certification standards, the industry’s most advanced green building benchmarks.

In addition, as a Strategic Alliance Partner, Honeywell has committed to supporting the facility and UBC’s research efforts over the next five years. This will include ongoing product development, as well as collaborating with the university to test new building technology.

For more information, read the press release or visit Honeywell’s Sustainable Opportunity website.

Don Bateman, chief engineer and corporate fellow at Honeywell, is one of five inventors to receive this year’s National Medal of Technology from U.S. President Barack Obama. The recognition is the highest honor bestowed by the U.S. government on scientists, engineers, and inventors. Bateman is being honored as a laureate for developing and championing critical flight-safety sensors now used by aircraft worldwide, including ground proximity warning systems and wind-shear detection systems. Read more about the award.

Bateman is widely recognized in the industry as a pioneer of flight safety systems and products. Many of the technologies he first envisioned and designed proceeded through production and certification, such as the angle of attack systems, stall warning systems, ground proximity warning systems (GPWS), automatic throttle, reactive wind shear warning systems, and radar. He is the inventor or co-inventor of more than 50 U.S. patents and 90 foreign patents, and is a recipient of numerous industry awards including induction into the National Inventors Hall of Fame, the Laura Tabor Barbour Air Safety Award, Admiral Luis de Florez Safety Award, and the Flight International Aerospace Industry Personality of the Year. His dedication to aviation safety is strengthened by his personal love of flying — he has logged more than 2,200 flight hours as a private pilot.

Honeywell issued the 20th edition of its annual Business Aviation Outlook, forecasting sales and delivery of approximately $230 billion in new business jets from 2011 through 2021.  This represents approximately a two percent increase in total expected industry sales value compared to the prior 10-year horizon Honeywell forecasted in 2010.

For 2011, Honeywell Aerospace estimates deliveries of 600-650 new business jets, down approximately 15 percent from 732 in 2010 due to continued slow global economic recovery.  While 2012 deliveries are expected to be below 700 airframes, Honeywell anticipates higher delivery levels than in 2011.  While five-year buyer interest remained steady versus 2010, based on the reduced economic growth outlook and this year’s survey responses, the industry appears to be positioned to begin another period of expansion in 2012, which is consistent with Honeywell’s current industry outlook.

One bright spot is the earlier demand timing coming from Brazil, Russia, India, and China (BRIC) countries and the Middle East.  Acting on these purchase plans in 2011 and 2012 is critical to providing the industry momentum as current backlogs will not sustain delivery levels indefinitely despite recent book to bill ratios exceeding one at some manufacturers.

Honeywell surveyed more than 1,500 flight departments around the world for its annual business aviation outlook.

For more information, read the press release.

• 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.