UTX United Technologies Corporation

A day after Honeywell International Inc. pulled the plug on its $90 billion bid for United Technologies Corp, Honeywell will try to show shareholders at an investor day that it has a plan for going alone.

"Our business model is working," Chief Executive Dave Cote said. "The best is certainly yet to come for Honeywell."

Honeywell reaffirmed its quarterly guidance, saying it expects earnings per share for the current quarter of $1.48 to $1.53. Analysts polled by Thomson Reuters had expected $1.50 in per-share earnings.

For the full year, it expects sales of between $39.9 billion and $40.9 billion with a core organic growth rate of between 1% and 2%. Analysts had expected $40.5 billion in sales.

Shares were inactive in premarket trading but have risen 2.7% in the last three months.

Honeywell sought to merge with United Technology, forming a company that makes things including elevators, thermostats, jet engines and landing gear. But given the overlap between their business units, especially in aerospace, such a transaction would face steep regulatory hurdles, which was United Tech's argument against a transaction.

After two weeks of public battle, Honeywell pulled its United Technology offer ahead of the meeting with investors Wednesday in New York. Still, the company left open the possibility it could pursue a deal in the future.

Write to Austen Hufford at austen.hufford@wsj.com

(END) Dow Jones Newswires

March 02, 2016 07:35 ET (12:35 GMT)

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