Honeywell sees 2011 sales up about 5 percent

BOSTON (BestGrowthStock) – Honeywell International Inc (HON.N: ) expects sales to rise 5 percent or more next year, with profit at its four divisions rising 10 percent or more, top executives told investors on Friday.

“It’s reasonable to anticipate approximately 5 percent-plus recorded top line sales growth for Honeywell in 2011 over the expected 2010 sales of $33 billion,” Chief Financial Officer Dave Anderson told analysts on a conference call. “Currency, of course, foreign exchange will obviously be an influence here and would impact the year-over-year. We also have a path we believe to double-digit segment profit growth for 2011.”

That is roughly in line with Wall Street forecasts. Analysts, on average, expect 2011 revenue of $35.3 billion, which would represent growth of 7.6 percent, according to Thomson Reuters I/B/E/S.

Wall Street expects 2011 earnings per share of $3.03, excluding one-time items.

Honeywell on Friday reported better-than-expected third-quarter profit (Read more your timing to make a profit.). Net earnings were down, reflecting the company’s aggressive approach to pension accounting.

It expects pension funding to weigh on next year’s net earnings by $350 million to $400 million, Anderson said.

(Reporting by Scott Malone; editing by John Wallace)

Honeywell sees 2011 sales up about 5 percent