honeywell international inc (HON) Key Developments
Honeywell International Inc. Announces Auditor Changes
Jul 30 14
On July 29, 2014, the Audit Committee of the Board of Directors of Honeywell International Inc. approved the engagement of Deloitte & Touche LLP (D&T) as the company's independent registered public accounting firm for the fiscal year ended December 31, 2015 and the dismissal of PricewaterhouseCoopers LLP (PwC). The dismissal of PwC will become effective upon issuance by PwC of its reports on the consolidated financial statements as of and for the year ended December 31, 2014.
Bendixking Launches AeroVue(TM)
Jul 28 14
BendixKing announced the launch of AeroVue(TM), a complete cockpit retrofit solution for King Air turboprop aircraft. Derived from Honeywell avionics systems, the AeroVue Integrated Flight Deck (IFD) offers King Air operators a sophisticated avionics platform including Flight Management System, Autopilot, Synthetic Vision, and INAV(TM) functionality with Electronic Charts displayed on three large 12" advanced LCD screens. AeroVue also adds wireless capability to the cockpit through the BendixKing AeroWave 100 system. Pilots will be able to operate AeroVue two ways: with a combination of button inputs, or with the optional Cursor Control Device (CCD). The CCD will allow either pilot to control many key IFD functions with their hand firmly stabilized, a significant advantage in turbulent weather or during high-workload periods. AeroVue operators will enjoy the similarity with other Honeywell professional flight decks, and this enables fleet owners and operators to minimize avionics transition training across aircraft platforms. The AeroVue lineage will allow King Air operators, for the first time, to incorporate technological and safety advances designed for large business jet and transport category aircraft. AeroVue will offer an array of features including a high-resolution Synthetic Vision system, configurable Primary Function Displays including acceleration chevrons, Horizontal Situation Indicator with arc overlay of terrain and weather, and dual Bluetooth(R) enabled audio panels.
Honeywell Declares Quarterly Dividend, Payable on September 10, 2014
Jul 25 14
The Board of Directors of Honeywell has declared a regular quarterly dividend of $0.45 per share on the company's outstanding common stock. The dividend is payable on September 10, 2014 to shareowners of record at the close of business on August 21, 2014.
Honeywell International Inc. Announces the Appointment of But Roger Fradin as Vice Chairman
Jul 18 14
Honeywell International Inc. announced the appointment of But Roger Fradin as vice chairman.
Honeywell International Inc. Reports Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Revises Earnings Guidance for the Full Year 2014
Jul 18 14
Honeywell International Inc. reported unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the period, the company reported net sales of $10,253 million compared to $9,693 million a year ago. Income before taxes was $1,523 million compared to $1,329 million a year ago. Net income attributable to the company was $1,099 million or $1.38 per diluted share compared to $1,021 million or $1.28 per diluted share a year ago. Net cash provided by operating activities $1,341 million compared to $1,256 million a year ago. Expenditures for property, plant and equipment were $229 million compared to $196 million a year ago. Free cash flow was $1,112 million compared to $1,060 million a year ago.
For the six months, the company reported net sales of $19,932 million compared to $19,021 million a year ago. Income before taxes was $2,934 million compared to $2,589 million a year ago. Net income attributable to the company was $2,116 million or $2.66 per diluted share compared to $1,987 million or $2.49 per diluted share a year ago. Net cash provided by operating activities $2,029 million compared to $1,597 million a year ago. Expenditures for property, plant and equipment were $421 million compared to $344 million a year ago.
The company revised earnings guidance for the full year 2014. For the period, the company revised sales guidance were $40.2 billion to $40.4 billion compared to prior guidance of $40.3 billion to $40.7 billion. Earnings per share revised guidance were $5.45 to $5.55 compared to prior guidance of $5.40 to $5.55. Free cash flow revised guidance were $3.8 billion to $4.0 billion compared to prior guidance of $3.8 billion to $4.0 billion.