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BRIEF-Honeywell International CFO says seeing more positive sentiment from oil and gas customers - Conf Call
December 16, 2016 / 3:55 PM / a year ago

BRIEF-Honeywell International CFO says seeing more positive sentiment from oil and gas customers - Conf Call

Dec 16 (Reuters) - Honeywell International Inc

* CFO says “2016 was a peak year for aero OEM incentives and this will become a modest tailwind for us in 2017 and beyond”

* CFO says seeing more positive sentiment from customers overall, and signs of a slight recovery, in oil and gas

* CFO says assuming modest increase in U.S. defense spending in 2017

* CFO says expect to continue to grow in excess of GDP in high growth regions, most notably in India and China

* CFO says Mexico is an “attractive large market and it’s one of many high growth regions that are very important to us”

* COO says expects co’s software business units to grow at double-digit compounded annual growth rate over next five yrs

* CFO says, in commercial aviation, continue to see a healthy aftermarket, particularly in the air transport space, but a more challenging OEM market

* CFO says OEM revenue and business and general aviation will be down double digits in 2017 as most platforms face a soft market for new jets

* CFO says, longer term, by late 2018 or 2019, anticipate a return to growth in business and general aviation OEM revenue as markets improve

* CFO says assuming global GDP growth of 2.5 percent in 2017, slightly lower than IHS’s global insights projection of 2.8 percent

* CFO says capex to modestly decline in 2017, and then “more significantly” in 2018 Further company coverage:

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