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

Want More News Like This?

CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find Out More