Honeywell International Inc Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Financial Guidance for the First Quarter and Fiscal Year of 2017
January 27, 2017 at 05:00 pm IST
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Honeywell International Inc. reported unaudited consolidated earnings results for the fourth quarter and year ended December 31, 2016. For the quarter, the company reported net sales of $9,985 million against $9,982 million a year ago. Income before taxes was $1,432 million against $1,653 million a year ago. Net income was $1,045 million against $1,203 million a year ago. Net income attributable to the company was $1,034 million against $1,194 million a year ago. Earnings per share of common stock, assuming dilution was $1.34 against $1.53 a year ago. Net cash provided by operating activities was $2,042 million against $1,963 million a year ago. Expenditures for property, plant and equipment was $346 million against $388 million a year ago. Free cash flow was $1,696 million against $1,575 million a year ago.
For the year, the company reported net sales of $39,302 million against $38,581 million a year ago. Income before taxes was $6,447 million against $6,586 million a year ago. Net income was $4,846 million against $4,847 million a year ago. Net income attributable to the company was $4,809 million against $4,768 million a year ago. Earnings per share of common stock, assuming dilution was $6.20 against $6.04 a year ago. Net cash provided by operating activities was $5,498 million against $5,519 million a year ago. Expenditures for property, plant and equipment was $1,095 million against $1,073 million a year ago. Free cash flow was $4,403 million against $4,446 million a year ago.
For the first quarter, company is initiating EPS guidance of $1.60 to $1.64, which is a 6% to 9% increase year-over-year, ex divestitures.
The company remains optimistic about 2017, and is reaffirming 2017 guidance. Earnings per share are expected to be between $6.85 and $7.10 or 6% to 10% growth versus 2016. Organic sales growth of 1% to 3%. For the first quarter, company is initiating EPS guidance of $1.60 to $1.64, which is a 6% to 9% increase year-over-year, ex divestitures. Free cash flow forecast remains in the range of $4.6 billion to $4.7 billion. That's up 5% to 7% from 2016.
Honeywell International Inc. specializes in the manufacturing and marketing of industrial equipment. The group also offers maintenance, technical assistance and engineering services. Net sales break down by family of products as follows:
- aeronautical equipment (37.2%): engines, navigation hardware and software, propulsion and communication systems, satellite and space components, lighting equipment, wheels, etc. The group also offers turbochargers for motor vehicles;
- performance materials and technologies (31.4%): polymers, fibers, resins, acids, additives, catalysts, sorbents, semiconductor packaging materials, coating materials, etc.;
- building automation and control systems (16.4%): heating and ventilation control systems, fire alarms, thermostats, monitoring systems, etc.;
- security and productivity optimization solutions (15%): personal safety equipment, warning systems, gas detection systems, data collection and thermal printing computer solutions, warehouse and supply chain automation systems, data and production process management solutions, etc.
Net sales are distributed geographically as follows: the United States (57%), Europe (22%) and other (21%).
Honeywell International Inc Reports Unaudited Consolidated Earnings Results for the Fourth Quarter and Year Ended December 31, 2016; Provides Financial Guidance for the First Quarter and Fiscal Year of 2017
HONEYWELL INTERNATIONAL INC. 
