Honeywell aims for more than $50b in sales by 2018
MORRISTOWN, N.J.—Honeywell International Inc. on March 5 set a target of increasing overall company sales to more than $50 billion by 2018 as it spends $10 billion on acquisitions and continues to expand profit margins, according to a news report from Reuters.
Honeywell, the U.S. diversified manufacturer of security systems, aerospace parts and climate control, also said it expects earnings to grow at a double-digit pace in percentage terms over the next five years, the report said.
Honeywell, which reported $39.1 billion in sales in 2013, unveiled the new five-year targets ahead of its investor conference in New York.
Honeywell said it wanted to spend $10 billion on acquisitions that would add about $5 billion to $8 billion in sales over the next five years. Excluding deals, it still expects sales to increase by $7 billion to $12 billion by 2018.
The company also sees segment profit margins increasing to between 18.5 percent to 20 percent over than time, up from 16.3 percent last year.