Jul. 17, 2014, 5:30 PM
Jul. 14, 2014, 10:32 AM
- Honeywell (HON +0.7%) has completed its sale of its Friction Materials business to Federal-Mogul (FDML +0.4%) with the aim of realigning its portfolio to match the company's focused industries. The deal is valued at ~$155M.
- "The sale of the Friction Materials business is a significant step in our effort to fully align the Honeywell portfolio around Great Positions in Good Industries," says Chairman and CEO Dave Cote.
- The company is also repositioning its Transportation Systems business segment with its Aerospace business segment to take advantage of the engineering and technology similarities between the two.
- The realignments will have no effect on the Company's historical consolidated financial position, results of operations, or cash flows.
Jun. 16, 2014, 10:17 AM| Comment!
Apr. 28, 2014, 10:26 AM| Comment!
Apr. 17, 2014, 9:12 AM
- Honeywell (HON) reported slightly better than expected Q1 earnings, helped by strong sales of turbochargers for automobiles and home thermostats and security systems.
- HON raises the lower end of its EPS outlook for the year by five cents, now expecting a profit of $5.40-$5.55, citing Q1 performance as well as the overall favorable outlook for its key end markets.
- Sales at the automation and control- ystems business, which serves the commercial construction industry, rose 7.6% to $4B; aerospace unit sales fell 1.8% to $2.86B; performance materials and technologies sales rose 2.2% to $1.75B; transportation systems sales aded 8.6% to $993M.
- Shares +0.2% premarket.
Apr. 17, 2014, 7:34 AM
Apr. 17, 2014, 12:05 AM
Apr. 16, 2014, 5:30 PM
Apr. 7, 2014, 10:24 AM
- Honeywell (HON -0.4%) CFO Dave Anderson is retiring after a decade at the company and will be replaced by Tom Szlosek, who was previously VP of Corporate Finance.
- The move is part of a reshuffle of Honeywell's leadership, with senior execs Andreas Kramvis and Roger Fradin being promoted to the newly created positions of Vice Chairmen. Kramvis was the head of the company's Performance Materials & Technologies (PMT) division, while Fradin ran Automation & Control Solutions (ACS).
- Honeywell is also moving its Process Solutions operations from ACS to PMT, which includes UOP and Advanced Materials as well.
- ACS will comprise Honeywell Building Solutions and Energy, Safety & Security. (PR)
Mar. 5, 2014, 7:44 AM
- Honeywell (HON +2.5%) wants to increase annual revenues to $50B by 2018 from $39.1B last year.
- Ahead of its annual investor day today, the company said it plans to spend $10B on acquisitions that would bring in $5-8B in sales; excluding any deals, the firm expects revenues to increase by $7-12B.
- Honeywell also forecasts that earnings will grow at a double-digit pace in percentage terms over the next few years, and it aims to increase segment profit margins by 18.5-20% from 16.3% in 2012. (PR)
Mar. 4, 2014, 3:58 PM
- Honeywell (HON +1.1%) and DuPont (DD +1.9%) reportedly face a European Union complaint for violating antitrust rules over the only car coolant chemical that currently meets new EU standards on greenhouse gas emissions.
- It’s a new twist in a long-running saga over the HFO-1234yf chemical, which is expected to be a cash cow for the two companies, as it replaces ozone-depleting alternatives that can’t be included in new vehicles sold in the EU starting in 2017.
- The new chemical is considered more expensive than its predecessor, and "with patent-protected supply plus a more expensive manufacturing process, a price premium will exist for some time,” an analyst says.
Feb. 13, 2014, 3:41 PM| Comment!
Jan. 24, 2014, 7:41 AM
- Honeywell (HON) net profit soars to $947M from $251M last year; from the earnings table, the increase appears to be due to a rise of over $800M in sales and to lower costs.
- Order backlog $15.5B
- "While we think it's prudent to remain cautious on the global economy at this time," says CEO Dave Cote, "we're increasingly confident in our 2014 outlook based on the momentum from the fourth quarter."
- The company reaffirms its 2014 guidance for EPS of $5.35-5.55, up 8-12% on 2013 and vs consensus of $5.54; and for sales of $40.3-40.7B, up 3-4% and vs $40.85B. (PR)
Jan. 24, 2014, 7:03 AM| Comment!
Jan. 24, 2014, 12:05 AM
Jan. 23, 2014, 5:30 PM
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Honeywell International Inc is a technology & manufacturing company, serving customers with aerospace products & services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, chemicals.
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