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Honeywell beats profit estimates and raises forecasts for the full year



PHOTO FILE: A Honeywell logo is displayed on its booth at the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland on May 22, 2017. REUTERS / Denis Balibouse

(Reuters) – Honeywell International Inc. announced Thursday a quarterly profit above expectations and raised its financial guidance for the full year as the surge in air travel has resulted in increased demand for its aircraft parts used in the commercial aircraft sector.

The company is now forecasting sales of $ 36.5 billion and $ 37.2 billion in 2019, up from $ 36.0 billion to $ 36.9 billion. The earnings guidance has been raised to a range of $ 7.90 to $ 8.15, from $ 7.80 to $ 8.10 per share.

Honeywell earned $ 1.92 a share in the first quarter, surpassing the average analyst estimate of $ 1.83 per share, according to Refinitv's IBES data.

(This story has been redefined to correct typing mistakes in advance)

Report by Ankit Ajmera in Bengaluru

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