Tags: Honeywell | profit | Rise

Honeywell Forecasts 2012 Profit to Rise 13% on Aerospace, Auto

Thursday, 15 Dec 2011 09:40 AM

Honeywell International Inc. said 2012 profit will rise as much as 13 percent, bolstered by increasing sales of business aircraft equipment and turbochargers for cars.

Honeywell expects earnings of $4.25 to $4.50 a share next year, compared with its 2011 forecast of $4 to $4.05, according to a statement today from the Morris Township, New Jersey-based company. Analysts predicted $4.42, the average of 21 estimates compiled by Bloomberg.

The high end of Honeywell’s 2012 sales forecast matched the average analysts’ estimate. Revenue will rise as much as 6.6 percent to $38.9 billion, according to the statement.

Honeywell advanced 1.5 percent to $52.31 at 8:37 a.m. in New York, before the opening of the markets.

In October, the company increased the 2011 profit forecast after sales for the first nine months rose 25 percent at the transportation-systems unit and 18 percent at the specialty- materials division. Sales advanced 17 percent at the largest unit, automation & control solutions, while aerospace gained 7.3 percent in revenue as business aircraft equipment offset weakness in defense.

The company in July sold its Consumer Products Group, the maker of Fram filters and Prestone antifreeze, for about $955 million. The proceeds are offsetting costs of restructuring businesses in Europe, where demand has fallen.

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Honeywell International Inc. said 2012 profit will rise as much as 13 percent, bolstered by increasing sales of business aircraft equipment and turbochargers for cars.Honeywell expects earnings of $4.25 to $4.50 a share next year, compared with its 2011 forecast of $4 to...
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Thursday, 15 Dec 2011 09:40 AM
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