Monday, February 22, 2010

Honeywell, with a morale-boosting (and largely useless) press release (HON)

Well alright then!

A couple minutes ago, Honeywell seems to have released a "getting in touch" press release.  They outlined five-year performance goals for revenue growth (barely above GDP growth) and operating margins.  And the profit margin goals are only on segment operating profits, so there's plenty of wriggle room with corporate expenses....

MORRIS TOWNSHIP, N.J.Feb. 22 /PRNewswire-FirstCall/ -- Honeywell (NYSE:HON - News) today announced that it expects approximately 6-8% compound annual sales growth over the next five years and is targeting segment margins in the range of 16-18% in five years.  The company also expects continued strong cash flow generation over that time period.  
"Honeywell is a very different and much better company today," said Honeywell Chairman and Chief Executive Officer Dave Cote.  "The processes and principles that we've adopted have enabled Honeywell to perform well in good times as well as tough economic times.  We are now one company, guided by the same initiatives and behaviors.  This common one Honeywell culture, together with the strength of our global portfolio, allowed us to effectively manage costs last year, rather than simply cut programs or people, which positions us well for growth in the next five years."

Copyright 2010 AlphaNinja

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