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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 its annual investor conference at the company’s Morris Plains, N.J., headquarters today, led by President and Chief Executive Officer Darius Adamczyk. The company will provide an update on Adamczyk’s key priorities, including accelerating organic growth, expanding margins, improving cash conversion, becoming a software-industrial company, and aggressively deploying capital.
As part of the conference, the company will also reaffirm full-year earnings per share guidance of $7.75 - $8.00 and first-quarter earnings per share guidance of $1.87-$1.93 (in each case, excluding separation costs and adjustments to the provisional charge related to tax legislation, if any).
The company will also showcase Honeywell’s cutting-edge Connected technologies that are transforming the end-to-end customer experience in several key industries, including supply chain, industrial plants, aircraft, and homes and buildings.
“I am excited to update shareowners today on our strong financial performance in 2017 and outlook for 2018, and on our progress in becoming a software-industrial company,” Adamczyk said. “Our new product introductions, commercial excellence efforts, focus on growing our Connected Enterprises, 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, and the recent tax legislation in the U.S. provides us with greater flexibility to aggressively deploy our capital on a global basis.
“Honeywell’s innovative Connected technologies contributed significant growth in 2017 and will continue to be a major driver of organic growth this year. We are leveraging our advanced software capability and strong domain knowledge to develop solutions and software that solve critical problems for our customers. Our Connected technologies keep cities working, planes flying, factories running, and workers safe.
“This is a transformative time for Honeywell, our software capabilities, and our portfolio. The spins of our Homes and Transportation Systems businesses will be complete by the end of the year, our growth and productivity initiatives are yielding attractive results, and I am confident in Honeywell’s ability to deliver significant shareowner value in2018 and for the years to come,” Adamczyk concluded.
Presentation materials and webcast information for the Honeywell Annual Investor Conference, including a replay of the webcast following the event, will be available at www.honeywell.com/us/en/investor.
Honeywell (www.honeywell.com/us/en) is a Fortune 100 software-industrial company that delivers industry-specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally. Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable. For more news and information on Honeywell, please visit www.honeywell.com/us/en/news.
This release contains certain statements that may be deemed “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception 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 a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices, as well as the ability to effect the separations. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements, including with respect to any changes in or abandonment of the proposed separations. We identify the principal risks and uncertainties that affect our performance in our Form10-K and other filings with the Securities and Exchange Commission.
This release contains financial measures presented on a non-GAAP basis. Honeywell’s non-GAAP financial measures used in this release include earnings per share, which we adjust to exclude pension mark-to-market expenses, separation costs, and adjustments to the provisional charge related to tax legislation, if any. We believe this non-GAAP measure is useful to investors and management in understanding our ongoing operations and in analysis of ongoing operating trends. The non-GAAP measures used in this release are forward-looking, and wedo not include a quantitative reconciliation of these measures because management 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 plan assets, the separation costs given the preliminary nature of the estimates or any adjustments to charges from tax legislation as the charges are provisional. Based on economic and industry conditions, future developments and other relevant factors, these assumptions are subject to change.
