Honeywell Forecasts 9 Rise in Sales

CEO touts the company’s business and financial performance.Honeywell (NYSE: HON) said today that it expects some $30 billion in sales, an increase of 9% year-over-year, and earnings of $2.35 to $2.50 per share, including stock-option expenses, in 2006. The company also forecast $2.1 to $2.3 billion in free cash flow for next year.

The company confirmed its 2005 financial guidance of $27.6 billion of sales and $1.7 to $1.8 billion in free cash flow. On a reported basis, EPS is expected to be $1.93 to $1.95.

“Our strong 2005 performance is the result of better processes, improved quality and delivery to customers and continued leadership in the industries we serve,” said Honeywell Chairman and CEO Dave Cote. “These factors, combined with continued growth in the global economy and favorable macro-trends, such as energy efficiency, expanding concerns about safety and security and increasing global flying hours, give us confidence in our prospects for 2006.”

Morris Township-based Honeywell, a $26 billion global technology and manufacturing company, offers aerospace products and services; control technologies for construction; and automotive products. Honeywell shares surged 5.77%, or $2.07, to $37.95 in early trading.