Company Also Reaffirms 2013 Earnings Outlook Of $4.90-$4.95
- Company Forecasts 2014 Sales Growth of 4-5%, Up 3-4% Organic
- 2014 Earnings Growth Driven By Strong Operational Performance And Sales Conversion
- Continued Robust Cash Flow Generation Provides Flexibility To Deliver Value
- On Track To Achieving 2014 Long Term Targets
“We expect 2014 to be another strong year for Honeywell with across the board growth in sales, margin, EPS, and free cash flow,” said Honeywell Chairman and CEO Dave Cote.
“Next year, we will complete our first 5 year plan and our 2014 outlook is reflective of the company being on track to achieve the long-term targets that were set in 2010. In fact, we’ve already achieved the low-end of our long-term margin target in 2013.
"These strong results have been supported by our balanced portfolio mix of short- and long-cycle businesses, improving end markets, consistent new product introductions, continued penetration in high growth regions, and our key process initiatives.
“While we’re expecting the macro environment next year to be similar to 2013, we’ll remain flexible and continue our disciplined focus on growth and productivity, which we expect will drive strong margin expansion, double-digit earnings growth, and robust free cash flow conversion again in 2014.”
Honeywell is a Fortune 100 diversified technology and manufacturing leader, serving customers worldwide with aerospace products and services; control technologies for buildings, homes, and industry; turbochargers; and performance materials. Based in Morris Township, N.J., Honeywell’s shares are traded on the New York, London, and Chicago Stock Exchanges.
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