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Honeywell International Inc. (HON) Stock Jumps on Q1 Earnings, Forecast

HON beat EPS estimates by 4 cents


Honeywell International Inc. (NYSE:HON) stock was up on Friday following the release of its earnings report for the first quarter of 2017.

Honeywell International Inc. (HON) Stock Jumps on Q1 Earnings, ForecastHoneywell International Inc. reported earnings per share of $1.66 for the first quarter of the year. This is an increase over its earnings per share of $1.50 reported during the same time last year. It also came in above Wall Street’s earnings per share estimate of $1.62 for the quarter.

During the first quarter of 2017, Honeywell International Inc. reported revenue of $9.49 billion. This is down from its revenue of $9.52 billion reported during the first quarter of 2016. However, it still came in above analysts’ revenue estimate of $9.32 billion for the first quarter of the year.

Honeywell International Inc. notes that Home and Building Technologies sales for the quarter were up 3%. It also says that Performance Materials and Technologies sales were up by 5% and Safety and Productivity Solutions sales were up 3%. Its Aerospace sales for the quarter were flat when compared to the same time last year.

Honeywell International Inc. also reported that it has increased its guidance for the full year of 2017. The manufacturing company says that it now expects earnings per share for the year to range from $6.90 to $7.10. This is an increase of 5 cents over its previous earnings per share expectations for the year.

“We look forward to continuing our track record of performance and we remain focused on accelerating our organic growth, continuing to expand margins by maintaining our productivity rigor, delivering best-in-class returns as the leading software-industrial company, and more aggressively deploying capital,” Darius Adamczyk, President and CEO of Honeywell International Inc., said in a statement.

HON stock was up 2% as of noon Friday and is up 9% year-to-date.

Article printed from InvestorPlace Media,

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