Honeywell Forecasts Growth in 2010

MORRIS TOWNSHIP, N.J.

Honeywell Int’l Inc. says it expects core growth next year with help from its Automation and Control Systems (ACS) group, improving margins and a push by commercial property owners to drive down their energy costs.

In a statement, Honeywell Chairman and CEO Dave Cote said that the economy is improving, which is boosting orders for most of the company’s businesses.

Trends driving higher energy efficiency and demand for safety and security in residential and commercial buildings will result in the sales growth, according to the company.

The ACS group, the company’s largest unit, will see revenue rise 1 percent to 3 percent in 2010 from this year, for sales of $12.7 billion to $13 billion, according to the company.

“As we finish 2009, we are seeing signs of improvement in the global economy and stabilization in a number of our end markets,” Cote said.

For 2009, Honeywell predicted earnings of $2.85 per share on $31 billion in sales.

On average, analysts polled by Thomson Reuters expect profit of $2.84 per share and revenue of $31.05 billion.

However, Honeywell forecast 2010 earnings between $2.20 and $2.40 per share, including non-cash pension expenses, which is below the $2.50 per share expected by analysts.

Honeywell predicted sales between $31.3 billion and $32.2 billion, compared to the $31.59 billion forecast by analysts.

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