[ad_1]
Honeywell is now expecting to earn between $ 7.95 and $ 8 a share, which is lower than its previous range of $ 8.05 to $ 8.15 the action.
Photo:
wallace woon / epa-efe / rex / shutter / EPA / Shutterstock
Honeywell International
Inc.
HON -1.81%
lowered its earnings guidance to reflect the impact of its housing and transportation activities, while posting positive quarterly results, supported by higher volumes and demand for its automotive automation business segments. warehouse and aerospace.
Honeywell is now expecting to earn between $ 7.95 and $ 8 a share, which is lower than its previous range of $ 8.05 to $ 8.15 the action. It expects its sales to be between $ 41.7 billion and $ 41.8 billion, while its previous forecast was $ 43.1 billion to $ 43.6 billion. It also expects organic sales growth to reach 6%, whereas it was previously between 5% and 6%.
The company recently divested its transportation systems business as a separate entity called
Garrett Motion
Inc.
GTX -3.01%
and plans to complete the spinoffs of her home-based business, which will become Resideo Technologies Inc. on October 29th.
Net sales for the New Jersey Industrial Corporation totaled $ 10.76 billion, up 6% from the same quarter last year. Product sales increased 5% while sales of services increased 10%. Honeywell has experienced sales growth in all segments: aerospace, housing and building technologies, high-performance materials and technologies, and security and productivity solutions. Analysts surveyed by Refinitiv were expecting a $ 10.75 billion business figure.
Honeywell reported earnings up 73 percent to $ 2.34 billion, or $ 3.11 a share, from a year ago. On an adjusted basis, the company earned $ 2.03 per share. Analysts expected the company to earn $ 1.99 per share. Honeywell said it benefited from a $ 498 million tax benefit.
Honeywell shares, up 2.3% for the year, were up 3.2% to $ 160.17 from low volume before sale trading.
Write to Kimberly Chin at [email protected]
Source link
