By RTT News,
December 17, 2013, 08:51:00 AM EDT
(RTTNews.com) - Diversified technology and manufacturing company Honeywell International, Inc. ( HON ) Tuesday reaffirmed its earnings and sales outlook for full year 2013. For the year 2014, the company sees 8 to 12 percent increase in earnings per share, and 4 to 5 percent growth in sales compared to 2013.
The upper end of the earnings guidance range for 2014 matched analysts' estimates, while revenues fell short of view.
Honeywell, which makes products ranging from home thermostats to aircraft instruments, said it still expects full-year 2013 earnings to be in the range of $4.90 to $4.95 per share. It continues to see sales to range between $38.8 billion and $39 billion.
On average, 26 analysts polled by Thomson Reuters expect the company to report earnings of $4.95 per share, on revenues of $38.86 billion for 2013. Analysts' estimates typically exclude special items.
For 2013, the company sees operating income margin in the range of 14.7 to 14.8 percent.
For full-year 2014, the company forecast earnings per share to be in the range of $5.35 to $5.55, up 8 to 12 percent from last year, driven by strong operational performance and sales conversion.
Sales are expected to be between $40.3 billion and $40.7 billion, up 4 to 5 percent from the year 2013, with organic sales growth of 3 to 4 percent.
Analysts are looking for earnings of $5.55 per share, on revenues of $41.10 billion for the year 2014.
The company noted that earnings per share guidance excludes any pension mark-to-market adjustment.
Operating income margin for 2014 is expected to be 15.3 to 15.6 percent, an increase of 50 to 80 basis points from the year 2013.
Chairman and CEO Dave Cote stated, "We expect 2014 to be another strong year for Honeywell with across the board growth in sales, margin, EPS, and free cash flow. 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."
Last week, Honeywell said its board has authorized a new $5 billion share repurchase program as part of its strategy to return more money to investors.
HON closed Monday's regular trading at $87.37 on the NYSE.
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