: Honeywell profit tops estimates as sales fall slightly short
Honeywell International Inc. HON said Thursday it had net income of $1.514 billion, or $2.27 a share, in the third quarter, down from $1.552 billion, or $2.28 a share, in the year-earlier period. Sales rose to $9.212 billion from $8.951 billion. The FactSet consensus was for EPS of $2.23 and sales of $9.231 billion. “Organic sales growth was led by our Aerospace segment, where continued supply chain improvements enabled significant sales growth in both commercial aviation and defense and space,” Chief Executive Vimal Kapur said in a statement. The company tweaked its full-year guidance and now expects sales to range from $36.8 billion to $37.1 billion, compared with prior guidance of $36.7 billion to $37.3 billion. It expects adjusted EPS of $9.65 to $9.75, compared with prior guidance of $9.60 to $9.80. The stock was down 0.6% premarket and has fallen 17% in the year to date, while the S&P 500 SPX has gained 9%.
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