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Honeywell
HON today announced full-year 2010 sales increased 8% to $33.4 billion vs. $30.9 billion in 2009. Earnings per share (proforma) were up 12% to $3.00 versus $2.69 in the prior year, excluding the unfavorable impact of the pension mark-to-market adjustment. Reported earnings per share for 2010 were $2.59 versus $2.05 in the prior year. Free cash flow was a record $3.6 billion (cash flow from operations of $4.2 billion).
Fourth quarter sales increased 12% to $9.0 billion versus $8.1 billion in 2009. Earnings per share (proforma) were $0.87 versus $0.83 in the prior year fourth quarter, excluding the unfavorable impact of the pension mark-to-market adjustment ($0.40 per share in 2010 and $0.63 per share in 2009). Reported earnings in the fourth quarter were $0.47 per share versus $0.20 in the prior year. Free cash flow was $0.7 billion (cash flow from operations was $1.0 billion), including a $600 million cash contribution to U.S. pension in the fourth quarter.
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