Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Honeywell Provides 2013 Outlook; Annuonces Intermec Acquisition - Quick Facts

RELATED NEWS
Trade HON now with 

Honeywell International Inc. (HON: Quote) announced the company expects 2013 sales in the range of $39.0 billion-$39.5 billion, and profit per share in a range of $4.75-$4.95. The company reaffirmed its 2012 outlook at the midpoint of previous guidance ranges.

Analysts polled by Thomson Reuters expect the company to report 2013 profit per share of $4.95 on sale of $39.42 billion. Analysts' estimates typically exclude special items.

The company expects 2012 sales of $37.5 billion, and profit per share of $4.47. Analysts expect the company to report profit per share of $4.47 and sales of $37.63 billion in 2012. Honeywell also announced it has signed a definitive agreement to acquire Intermec (IN: Quote), a provider of mobile computing, radio frequency identification solutions and bar code, label and receipt printers for use in warehousing, supply chain, field service and manufacturing environments for $10 per share in cash, or an aggregate purchase price of approximately $600 million, net of cash and debt acquired.

Although the transaction would be dilutive in 2013 by three to four cents, the estimated impact is included in the company's announced 2013 earnings per share guidance range, and Honeywell anticipates Intermec to be accretive in 2014.

Upon completion of the acquisition, Intermec would become part of Honeywell Scanning & Mobility in Honeywell's Automation and Control Solutions business. Intermec employs approximately 2,200 employees and operates more than 65 offices worldwide. The company is headquartered in Everett, Washington.

The transaction, which is subject to the approval of Intermec stockholders, regulatory approvals and customary closing terms and conditions, is expected to close by the end of the second quarter 2013.

Intermec announced that the company is suspending its previously announced search for a permanent Chief Executive Officer, In light of the merger announcement.

Register
To receive FREE breaking news email alerts for Honeywell International Inc. and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that it swung to a second quarter loss, hurt by higher costs and expenses even as revenue surged 47%. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. Kraton Performance Polymers, Inc. (KRA), Wednesday reported second-quarter net income of $11.1 million or $0.33 per share, up from $3.8 million or $0.12 per share last year. Adjusted earnings improved to $0.46 per share from $0.15 per share last year. Revenues for the quarter dropped to $323.8... Organic grocer Whole Foods Market, Inc. said Wednesday after the markets closed that its third quarter profit rose 6.3% from last year, as same-store sales increased 3.9%. The company's quarterly earnings per share also came in above analysts' expectations, but its quarterly sales fell shy of analyst' forecast.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.