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$HON announced that UkrGasVydobuvannya (UGV) has begun using Honeywell UOP's HYT-4118 Unity hydrotreating catalyst to produce ultra-low sulfur diesel fuel at the Shebelinsky refinery in Andreyevka, Kharkov Region, in eastern Ukraine. The catalyst is designed for use in low to medium-pressure ultra-low sulfur diesel hydrotreating units.
$HON said in terms of priorities for 2018, firstly the company wants to drive free cash flow conversion. The second is the incorporation of software into all products. The third one will be about innovation and leveraging the latest technologies available in the marketplace.
For 1Q18, in Aerospace, $HON expects sales to increase in the low single-digit range organically. Home and Building Technology sales will be slightly up. In Performance Materials & Technology, sales are expected to be up low to mid-single-digit while Safety & Productivity Solutions sales are expected in the mid-single-digit range organically.
$HON said Qantas Airlines operated a 13,000-km flight from L.A. to Melbourne using Honeywell Green Jet Fuel. The flight was the first between the US and Australia to use this fuel, made from Carinata seeds engineered by Agrisoma Biosciences. The fuel was produced by AltAir Paramount LLC using $HON’s Renewable Jet Fuel process technology.
$HON expects sales to be $41.8-42.5Bil in FY18 with organic growth of 2-4%. The company raised its 2018 adjusted EPS guidance by $0.20 to a new range of $7.75-8.00 to reflect an expected lower tax rate due to the US Tax Cuts and Jobs Act.
$HON posted a net loss of $2.4Bil or $3.18 per share in 4Q17 compared to a net income of $1Bil or $1.34 per share in 4Q16. The company incurred a provisional charge of $3.8Bil from the Tax Reform during the quarter. Net sales increased 9% to $10.8Bil compared to last year.
$HON announced that its UOP Russell business will provide a third cryogenic gas processing plant to Brazos Midstream. The high-recovery 200MM cubic foot per day plant, called Comanche III, will extract valuable natural gas liquids from natural gas produced in the Southern Delaware Basin in Texas.
$HON said its cockpit technologies have been selected by United Airlines to outfit its new fleet of more than 150 Boeing 737 MAX airplanes. The flight deck package will include the first installment of $HON’s SmartRunway and SmartLanding and will feature IntuVue RDR-4000 3D Weather Radar System and Integrated Multi-Mode Receiver.
$HON announced that Honeywell Outcome Based Service, a cloud-enabled building management service that helps identify misconfigurations sooner than traditional maintenance, now extends to mechanical systems. This provides more insight into a building’s operational efficiency while optimizing total cost of ownership.
For full-year 2017, $HON narrowed its organic growth guidance to about 4% and again narrowed its EPS guidance to the high end of the previous guidance range, or about $7.10, excluding separation costs. $HON expects sales to total approx. $40.6Bil. Segment margin is expected to be about 18.9%. $HON expects free cash flow to be about $4.6-4.7Bil.
$HON signed an agreement to acquire a 25% ownership interest in FLUX Information Technology, a provider of warehouse management in China. $HON will also form a new JV with FLUX's founder. $HON will hold a 75% stake in the new JV, which will focus on opportunities in Asia-Pacific. The investment in FLUX is expected to close by 4Q17-end.
$HON announced that its Lyric Controller Home Security System is now certified for use with Apple HomeKit. This offering is a professionally installed and monitored security system to support Apple's smart home platform, which enables homeowners to control their Lyric Controller security system with the Apple Home app or through Siri.
$HON said Kuwait Integrated Petroleum Industries Co. (KIPIC) will use a range of process technologies from Honeywell UOP, a licensor of refining and petrochemical process technology, for the expansion of its refining and petrochemical complex at Al-Zour, south of Kuwait City.