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BOEING COMPANY (THE)

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Honeywell evaluating revenue potential from Boeing's next aircraft launch: CFO

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04/18/2019 | 11:15am EDT
FILE PHOTO: The company logo for Boeing is displayed on a screen on the floor of the NYSE in New York

(Reuters) - Honeywell International Inc is evaluating the revenue potential from supplying parts to Boeing's next major aircraft programme, which is likely to be finalised by late 2019 or early next year, Chief Financial Officer Greg Lewis told Reuters.

Boeing has signalled that the proposed new mid-sized jetliner, known as NMA, will accelerate its drive to diversify beyond airframes and into services such as repairs and maintenance, where parts suppliers make much of their revenue.

The trend by Boeing and other planemakers to encroach on the business models of their suppliers has already fuelled an industry power battle that analysts say could reach a critical point during supplier negotiations for the NMA.

"If Boeing decides to move forward on the NMA ... we feel like we have got some very competitive offerings that we could provide on a platform," Lewis said.

"But it would have to be done in a way where it's a good project for Honeywell and we are able to protect our intellectual property, and still be able to have a good economic revenue and income stream come from that."

Boeing's proposed jet will serve a niche market falling between narrow- and wide-body aircraft and is expected to reshape competition with arch-rival Airbus SE, which dominates the top end of the medium-haul sector.

Honeywell supplies parts such as auxiliary power units, cockpit avionics and flight management systems as well as aircraft wheels and brakes for a range of aircraft.

Lewis also said Honeywell remained interested in China's C919 passenger jet programme, manufactured by Commercial Aircraft Corp of China Ltd (COMAC), as the company was already supplying parts to the upcoming narrowbody jet.

The C919, which will compete directly with Boeing's 737 and Airbus' A320 aircraft, was reportedly having problems with its flight deck design, raising concerns that the new jet would miss its target of entry into service by 2021.

"We are bullish on how that's (the C919 programme) going. Our equipment has performed well. As far as we can tell, they are on track for that 2021-22 type of entry into service date," Lewis said.

(Reporting by Ankit Ajmera in Bengaluru; Editing by Bernard Orr and Anil D'Silva)

By Ankit Ajmera

Stocks treated in this article : Boeing Company (The), Honeywell International
Stocks mentioned in the article
ChangeLast1st jan.
BOEING COMPANY (THE) 1.24% 354.9 Delayed Quote.8.70%
HONEYWELL INTERNATIONAL 0.14% 166.68 Delayed Quote.26.16%
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Financials ($)
Sales 2019 101 B
EBIT 2019 11 272 M
Net income 2019 9 858 M
Debt 2019 5 898 M
Yield 2019 2,27%
P/E ratio 2019 20,68
P/E ratio 2020 14,40
EV / Sales 2019 2,01x
EV / Sales 2020 1,67x
Capitalization 197 B
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Number of Analysts 25
Average target price 421 $
Spread / Average Target 20%
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NameTitle
Dennis A. Muilenburg Chairman, President & Chief Executive Officer
Jenette E. Ramos Senior Vice President-Supply Chain & Operations
Gregory D. Smith CFO, EVP-Corporate Development & Strategy
Theodore Colbert Chief Information Officer & SVP-Data Analytics
Gregory L. Hyslop CTO, Senior VP-Engineering, Test & Technology
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