23-Apr-2012 11:25 AM

Honeywell reports double-digit profit growth in 1Q2012, upgrades FY2012 forecast

Honeywell revenue up 7% - financial highlights for three months ended 31-Mar-2012:

  • Sales revenue: USD9307 million, +7% year-on-year;
    • Aerospace: 2950 million, +9%;
  • Segment profit: USD1415 million, +12%;
    • Aerospace: USD534 million, +14%;
  • Net profit: USD823 million, +17%;
  • Total assets: USD40,370 million, +1%;
  • Cash and cash equivalents: USD3988 million, +8%;
  • Total liabilities: USD28,528 million, -1%;
  • FY2012 forecast:
    • Sales revenue: USD38,000 million to USD38,600 million, compared to previous forecast of USD37,800 million to USD38,900 million;
    • Earnings per share from continuing operations: USD 4.35 to USD 4.55, compared to previous forecast of USD 4.25 to USD 4.50;
    • Earnings per share: USD 4.35 to USD 4.55, compared to previous forecast of USD 4.25 to USD 4.50;
    • Free cash flow: USD3500 million, unchanged from previous forecast. [more - original PR]

Honeywell: "Honeywell had a terrific start to the year highlighted by higher than expected organic sales, 70 basis points of margin expansion, and strong double-digit earnings growth. We've seen good momentum in the U.S. and our key high growth regions, which is more than offsetting softness in Europe impacting our short-cycle businesses. Our long-cycle businesses, namely commercial aerospace and UOP, had particularly strong growth, overdriving expectations in the quarter. As a result of our strong first quarter and continued favorable outlook for our major markets, we're raising our 2012 earnings per share outlook," Dave Cote, chairman and CEO. Source: Company statement, 20-Apr-2012