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Honeywell Hosts Annual Investor Conference, Reaffirms First-Quarter And Full-Year 2018 Outlook

  • Investments in New Product Introductions, Commercial Capabilities, Software, and Emerging Regions Driving Growth Across the Portfolio
  • Well Positioned for 2018 with Strong Backlog, Sales Momentum, and Margin Expansion Enablers
  • Strong Balance Sheet Coupled with Global Mobility of Cash Allows for Further Capital Deployment
  • Spin-Offs on Track for Completion by Year-End

MORRIS PLAINS, N.J., February 28, 2018 --Honeywell (NYSE: HON) will host itsannual investor conference at the company’s Morris Plains, N.J., headquarterstoday, led by President and Chief Executive Officer Darius Adamczyk. The companywill provide an update on Adamczyk’s key priorities, including acceleratingorganic growth, expanding margins, improving cash conversion, becoming asoftware-industrial company, and aggressively deploying capital.

As part of the conference, the company willalso reaffirm full-year earnings per share guidance of $7.75-$8.00 and first-quarterearnings per share guidance of $1.87-$1.93 (in each case, excluding separationcosts and adjustments to the provisional charge related to tax legislation, ifany).

The company will also showcase Honeywell’scutting-edge Connected technologies that are transforming the end-to-endcustomer experience in several key industries, including supply chain,industrial plants, aircraft, and homes and buildings.

“I am excited to update shareowners today onour strong financial performance in 2017 and outlook for 2018, and on our progressin becoming a software-industrial company,” Adamczyk said. “Our new productintroductions, commercial excellence efforts, focus on growing our ConnectedEnterprises, and strategies in High Growth Regions are driving organic growth.That growth, combined with our well-established processes to drive productivity,is continuing to deliver margin expansion. We have a strong balance sheet, andthe recent tax legislation in the U.S. provides us with greater flexibility to aggressivelydeploy our capital on a global basis.

“Honeywell’s innovative Connected technologies contributedsignificant growth in 2017, and will continue to be a major driver of organicgrowth this year. We are leveraging our advanced software capability and strongdomain knowledge to develop solutions and software that solve critical problemsfor our customers. Our Connected technologies keep cities working, planesflying, factories running, and workers safe.

“This is a transformative time for Honeywell, oursoftware capabilities, and our portfolio. The spins of our Homes andTransportation Systems businesses will be complete by the end of the year, our growthand productivity initiatives are yielding attractive results, and I amconfident in Honeywell’s ability to deliver significant shareowner value in2018 and for the years to come,” Adamczyk concluded.

Presentation materials and webcast information forthe Honeywell Annual Investor Conference, including a replay of the webcastfollowing the event, will be available at www.honeywell.com/investor.

Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company thatdelivers industry specific solutions that include aerospace and automotiveproducts and services; control technologies for buildings, homes, and industry;and performance materials globally. Our technologies help everything fromaircraft, cars, homes and buildings, manufacturing plants, supply chains, andworkers become more connected to make our world smarter, safer, and more sustainable. For more news and informationon Honeywell, please visit www.honeywell.com/newsroom.

Thisrelease contains certain statements that may be deemed “forward-lookingstatements” within the meaning of Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, that addressactivities, events or developments that we or our management intends, expects,projects, believes or anticipates will or may occur in the future areforward-looking statements. Such statements are based upon certain assumptionsand assessments made by our management in light of their experience and theirperception of historical trends, current economic and industry conditions,expected future developments and other factors they believe to be appropriate.The forward-looking statements included in this release are also subject to anumber of material risks and uncertainties, including but not limited toeconomic, competitive, governmental, and technological factors affecting ouroperations, markets, products, services and prices, as well as the ability toeffect the separations. Such forward-looking statements are not guarantees offuture performance, and actual results, developments and business decisions maydiffer from those envisaged by such forward-looking statements, including withrespect to any changes in or abandonment of the proposed separations. We identifythe principal risks and uncertainties that affect our performance in our Form10-K and other filings with the Securities and Exchange Commission.

Thisrelease contains financial measures presented on a non-GAAP basis. Honeywell’snon-GAAP financial measures used in this release include earnings per share,which we adjust to exclude pension mark-to-market expenses, separation costs, andadjustments to the provisional charge related to tax legislation, if any. Webelieve this non-GAAP measure is useful to investors and management inunderstanding our ongoing operations and in analysis of ongoing operatingtrends. The non-GAAP measures used in this release are forward-looking, and wedo not include a quantitative reconciliation of these measures becausemanagement cannot reliably predict or estimate, without unreasonable effort,the pension mark-to-market expense as it is dependent on macroeconomic factors,such as interest rates and the return generated on invested pension planassets, the separation costs given the preliminary nature of the estimates, orany adjustments to charges from tax legislation as the charges are provisional.Based on economic and industry conditions, future developments and otherrelevant factors, these assumptions are subject to change.

Mark Macaluso
Investor Relations