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World's largest chemical company $DWDP reported a 4Q17 GAAP loss attributable to the company of $1.26Bil or $0.54 per share, driven by restructuring costs and write-down in asset values. Pro forma adjusted EPS, however, jumped 41% from a year ago. Correspondingly, revenue jumped 13% YoY, with net sales of $20.1Bil, helped by robust product demand.
$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.
$BHGE, a provider of oilfiled products and services, reported a net loss of $29MM or $0.07 per share in 4Q17. In the preceding quarter, the company had reported a loss of $0.24 per share. On a non-GAAP basis, Baker Hughes posted earnings of $0.15 per share in 4Q17. Total revenues were $5.76BIl, down 3% compared to the year-ago quarter.
$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.