Honeywell (HON) reaffirmed its 2010 financial guidance, projecting sales of $31.3 billion to $32.2 billion and earnings per share of $2.20 to $2.40.
The company also backed first-quarter sales guidance of $7.2 billion to $7.6 billion. Honeywell updated its first quarter EPS guidance to 40 cents to 45 cents, which had previously included a negative impact from proposed healthcare legislation.
"The outlook for Honeywell is bright," said Honeywell chairman and chief executive Dave Cote. Cote also said that the company has been investing in new products and technologies, maintained research and development investment, expanded its region presence, and made further advancement in its key process initiatives.
“This focus allows us to build on our technology differentiation and expand our global footprint,” said Cote. “Today, we are building off a much stronger base that will enable us to drive significant growth over the next five years."
Honeywell will hold its annual investor conference on Monday. Strategies for its businesses and major markets, as well as its long-term growth outlook, will be discussed.
Honeywell, based in Morris Township, N.J., provides customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; automotive products; turbochargers; and specialty materials.
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