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Honeywell Reaffirms Full Year 2011 Financial Guidance

Company also updates third quarter outlook.

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MORRIS TOWNSHIP, N.J. — Honeywell is meeting with investors today at the Citi Global Industrials Conference, where the company will reaffirm its full-year 2011 financial guidance.

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For 2011, Honeywell says it expects sales of $36.1 billion to $36.7 billion, up 12 percent to 14 percent over 2010. This excludes the divested Consumer Products Group business (CPG), which is being treated as discontinued operations.

Honeywell is reaffirming 2011 proforma earnings per share of $3.85 to $4, up 28 percent to 33 percent, over 2010. This includes discontinued operations of approximately 25 cents.

In addition, Honeywell has updated its third quarter sales, which will be in the range of $9.1 billion to $9.4 billion, up 12 percent to 15 percent. The company said "healthy" organic growth of 7 percent to 9 percent is anticipated.

Third quarter 2011 earnings of 96 cents to $1.01 per share will be near high-end of range and include earnings from discontinued operations (CPG) and assumes full deployment of after-tax gains from sale of CPG (~$165M) and OPEB curtailments (~$80M).

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