Honeywell lowers '10 forecast

A Honeywell thermostat

MORRIS TOWNSHIP -- Honeywell International reiterated its 2009 outlook, but the manufacturing conglomerate sees 2010 results below analyst estimates.

In a statement, Honeywell Chairman and CEO Dave Cote said that the economy is improving, which is boosting orders for most of the company's businesses.

For 2009, Honeywell predicts earnings of $2.84 per share on $31 billion in sales. On average, analysts polled by Thomson Reuters expect profit of $2.84 per share and revenue of $31.05 billion.

However, Honeywell forecast 2010 earnings between $2.20 and $2.40 per share, below the $2.50 per share expected by analysts. Honeywell predicted sales between $31.3 billion and $32.2 billion, compared to the $31.59 billion forecast by analysts.

Honeywell, which makes products for sectors including aerospace, automotive and construction