Honeywell International Stock Pops on Q2 Earnings Beat

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

Honeywell International Stock Pops on Q2 Earnings Beat

Earnings per share reported by Honeywell International for the second quarter of the year was $2.12. This is an increase over its earnings per share of $1.80 from the same time last year. It was also good news for HON stock by beating out Wall Street’s earnings per share estimate of $2.01 for the period.

During its second quarter of 2018, Honeywell International also reported net income of $1.28 billion. This is down from the company’s net income of $1.40 billion that was reported in the second quarter of 2017.

Honeywell International’s most recent earnings report also saw it bring in operating income of $1.78 billion. The producer of commercial and consumer products reported operating income of $1.60 billion in the same period of the year prior.

Revenue of $10.92 billion for the second quarter of the year was also a boon to HON stock today. This is better than the company’s revenue of $10.08 billion reported in the second quarter of the previous year. It also came in above analysts’ revenue estimate of $10.80 billion for the quarter.

Honeywell International also took time in its most recent earnings report to update its guidance for the full year of 2018. The company is increasing its earnings per share expectations for the year to between $8.05 and $8.15. It’s previous earnings per share guidance range for the period was $7.85 to $8.05. Wall Street is estimating earnings per share of $8.00 for the year.

Honeywell International also updated its outlook for 2018 revenue to between $43.10 billion and $43.60 billion. It’s previous guidance for the year was $42.70 billion to $43.50 billion. Analysts are looking for revenue of $43.05 billion for the full year of 2018.

HON stock was up 3% as of noon Friday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/07/honeywell-international-beats-q2-estimates/.

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