Honeywell sets guidance for 2018, tweaks Q4 EPS outlook to top end of range

Aerospace and industrial company Honeywell Inc. set guidance for 2018 Wednesday, saying it expects it to be a transformative year as it completes the spinoff of its homes and global distribution and transportation systems businesses. The company is expecting EPS of $7.55 to $7.80, excluding separation costs, compared with a FactSet consensus of $7.79. "In 2018, we are targeting free cash flow growth of more than 20 percent and intend to continue our aggressive capital deployment strategy," Chief Executive Darius Adamczyk said in a statement. The company narrowed its fourth-quarter EPS guidance to $1.84, the upper end of its range, and said it expects sales growth of 9%, up from a prior range of 5% to 7%. Shares were slightly higher premarket, but have gained 33% in 2017, while the S&P 500 has gained 19%.

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