The maker of aerospace, building control and safety products predicts an even more challenging macro environment in 2012 due to the eurozone debt crisis that has softened demand there.
Still, Honeywell CEO Dave Cote called 2011 a “terrific” year and said the company is well-positioned to continue out performing in 2012.
Honeywell posted a quarterly loss of $310 million, or 40 cents a share, compared with a year-earlier profit of $369 million, or 47 cents. Excluding one-time costs, the company said earnings climbed to $1.05, beating average analyst estimates in a Thomson Reuters poll by a penny.
Revenue for the three-month period was $9.5 billion, just missing the Street’s view.
The year-over-year gains were led by across-the-board segment growth, including an increase of 8% in the commercial construction industry.