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HomebusinessHoneywell ups sales forecast, predicts earnings at top of range

Honeywell ups sales forecast, predicts earnings at top of range

  • Honeywell forecast its fourth-quarter earnings at the top of its previous guidance.
  • The industrial conglomerate also raised its forecast for both quarterly and full-year 2017 sales.
  • Honeywell said it expected 2017 sales of $40.6 billion, up from its previous forecast of $40.2 billion to $40.4 billion.

Darius Adamczyk, CEO, HoneywellSource: Honeywell

Honeywell forecast its fourth-quarter earnings at the top of its previous guidance on Wednesday and raised its forecast for both quarterly and full-year 2017 sales.

The U.S. industrial conglomerate said final quarter earnings should come in at around $1.84 per share, excluding separation costs, compared to its previous guidance of $1.79 to $1.84 per share.

Honeywell also said it expected 2017 earnings per share of $7.10, compared to a previous $7.05 to $7.10 and predicted profit for 2018 would rise to $7.55 to $7.80 a share.

Its shares inched up to $154.12 in premarket trade.

Honeywell said in October it would spin off its homes and global distribution and transportation systems businesses and it said on Wednesday it expected those deals to be completed by the end of the year. The two businesses are worth around $7.5 billion in annual revenue.

The company said it was targeting free cash flow of more than 20 percent and would buy back nearly $1.5 billion worth of Honeywell shares, while reiterating that "M&A remains a top priority."

Honeywell said it expected 2017 sales of $40.6 billion, up from its previous forecast of $40.2 billion to $40.4 billion.

Correction: This story was updated to include an image of the current CEO of Honeywell.

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