honeywell international inc (HON) Key Developments
Honeywell Declares Quarterly Dividend, Payable on September 10, 2015
Jul 31 15
The Board of Directors of Honeywell has declared a regular quarterly dividend of $0.5175 per share on the company's outstanding common stock. The dividend is payable on September 10, 2015 to shareowners of record at the close of business on August 20, 2015.
Honeywell International Inc., Melrose Industries PLC - M&A Call
Jul 28 15
To discuss acquisition of the Elster Division of Melrose Industries plc
Honeywell International Seeks Acquisitions
Jul 28 15
Honeywell International Inc. (NYSE:HON) will continue to look for good acquisitions to enhance our growth profile.
Honeywell Wins Contract from Ningxia Baota Chemical Fiber
Jul 21 15
Ningxia Baota Chemical Fiber plans to build a petrochemicals complex at Yinchuan City, China. Honeywell, which won a contract to supply technologies and equipment for the project, said that the complex would have capacities to produce 800,000 tones/year of paraxylene, 520,000 tones/year of gasoline, and 200,000 tones/year of benzene after coming online in 2018. Ningxia Baota's project will be the first in China to use Honeywell's energy-efficient aromatics complex design to convert heavy naphtha into high-purity paraxylene. UOP's next-generation aromatics technology combines the latest catalysts and adsorbents with an energy-efficient design to reduce energy consumption by as much as 20%, helping achieve the lowest cost of operation for paraxylene producers in the industry. With UOP technology, Ningxia Baota can become a more competitive player in the Asian paraxylene market, which accounts for 83% of the global paraxylene demand. Honeywell did not disclose the value of its contract with Ningxia Baota.
Honeywell International Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Revises Earnings Guidance for the Full Year 2015; Provides Earnings Guidance for the Third Quarter of 2015
Jul 17 15
Honeywell International Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported net sales of $9,775 million compared to $10,253 million a year ago. Income before taxes was $1,662 million compared to $1,523 million a year ago. Net income attributable to the company was $1,194 million or $1.51 per diluted share compared to $1,099 million or $1.38 per diluted share a year ago. Net cash provided by operating activities $1,408 million compared to $1,341 million a year ago. Expenditures for property, plant and equipment were $243 million compared to $229 million a year ago. Free cash flow was $1,165 million compared to $1,112 million a year ago.
For the six months, the company reported net sales of $18,988 million compared to $19,932 million a year ago. Income before taxes was $3,226 million compared to $2,934 million a year ago. Net income attributable to the company was $2,310 million or $2.91 per diluted share compared to $2,116 million or $2.66 per diluted share a year ago. Net cash provided by operating activities $1,829 million compared to $2,029 million a year ago. Expenditures for property, plant and equipment were $408 million compared to $421 million a year ago. Free cash flow was $1.2 billion, 5% higher than 2014.
For the third quarter, the company expects total company sales of $9.7 billion to $9.9 billion, which will be up 3% to 4% on a core organic basis. EPS is expected to be in the range of $1.51 to $1.56, which is up 6% to 9%, normalized for tax at 26.5% in both years.
The company revised earnings guidance for the full year 2015. For the period, the company revised sales guidance were $39.0 billion to $39.6 billion compared to prior guidance of $39.0 billion to $39.6 billion. Earnings per share revised guidance were $6.05 to $6.15 compared to prior guidance of $6.00 to $6.15. Free cash flow revised guidance were $4.2 billion to $4.3 billion compared to prior guidance of $4.2 billion to $4.3 billion.