Financial Release

MORRIS PLAINS, N.J., March 1, 2017 /PRNewswire/ -- Honeywell (NYSE: HON) will hold its annual investor conference in New York City today, led by incoming Chief Executive Officer Darius Adamczyk. The Company will highlight its expectations for strong organic sales growth and long-term earnings outperformance, and will showcase its Connected Technologies portfolio focused on differentiated innovations and continued commitment to improving the customer experience. As part of the conference, the Company also reaffirmed full year earnings per share guidance of $6.85-$7.10 (ex-pension MTM) and first quarter earnings per share guidance of $1.60-$1.64.

"We are excited to discuss with shareowners today our leading positions, breakthrough technologies and financial framework that will continue to drive superior financial performance over the short- and long-term," said Adamczyk, who is serving as Honeywell President and Chief Operating Officer until becoming CEO on March 31. "As Honeywell's new CEO, my priority will be to accelerate organic growth across all of our business segments, further expand margins via commercial excellence and continued productivity rigor, and solidify Honeywell's position as a leading software-industrial company.  Capital deployment will continue to be a key component of Honeywell's strategy, which has served us well over the last fifteen years.  Building on that success, we intend to be even more aggressive in deploying our capital to share repurchases, portfolio evolution through smart M&A and divestitures of businesses that do not fit with our core technologies and competencies, high ROI capital expenditures, and a dividend that grows at or above our EPS growth rate.  Based on the enterprise-wide deployment of the Honeywell Operating System and portfolio investments we've made in the recent past, we expect financial outperformance in 2017 and over the long term."

"Honeywell's connected products give us a significant advantage over our competitors, supporting double-digit growth in our over $1 billion standalone software portfolio," continued Adamczyk. "Our connected product offerings whether in the cockpit, automobile, factory, home or commercial building are unique because Honeywell is able to combine physical products with software to deliver value that our customers will pay for and that make the 'internet of things' a reality.  By enabling a smarter, safer, and more sustainable world, our solutions truly enhance the quality of life for people around the globe."

"We delivered outstanding returns again in 2016, exceeding the S&P's total shareowner return by 300 basis points, and setting the stage for a successful 2017," said Honeywell Chairman and CEO Dave Cote. "Through our focus on breakthrough initiatives, HOS Gold, and smart investments, we will continue to drive organic growth and margin expansion through 2018 and beyond. The best is certainly yet to come for Honeywell, and I along with the entire Board are confident in our ability to continue to outperform under Darius Adamczyk."

Related presentation materials and webcast information for the Honeywell Annual Investor Conference are available at www.honeywell.com/investor.  A replay of the webcast will be available following the presentation at the same link listed above.

Honeywell (www.honeywell.com) is a Fortune 100 software-industrial company that delivers industry specific solutions that include aerospace and automotive products and services; control technologies for buildings, homes, and industry; and performance materials globally.  Our technologies help everything from aircraft, cars, homes and buildings, manufacturing plants, supply chains, and workers become more connected to make our world smarter, safer, and more sustainable.  For more news and information on Honeywell, please visit www.honeywell.com/newsroom.

This release contains certain statements that may be deemed "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934. All statements, other than statements of historical fact, that address activities, events or developments that we or our management intends, expects, projects, believes or anticipates will or may occur in the future are forward-looking statements. Such statements are based upon certain assumptions and assessments made by our management in light of their experience and their perception of historical trends, current economic and industry conditions, expected future developments and other factors they believe to be appropriate. The forward-looking statements included in this release are also subject to a number of material risks and uncertainties, including but not limited to economic, competitive, governmental, and technological factors affecting our operations, markets, products, services and prices. Such forward-looking statements are not guarantees of future performance, and actual results, developments and business decisions may differ from those envisaged by such forward-looking statements. We identify the principal risks and uncertainties that affect our performance in our Form 10-K and other filings with the Securities and Exchange Commission.

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SOURCE Honeywell