Honeywell Lifts Guidance as Profit Tops Views
NEW YORK (TheStreet) -- Diversified manufacturer Honeywell (HON) reported a jump in earnings that beat analysts' estimates for the third quarter and raised guidance for the full year.
Honeywell said third-quarter sales rose 14% to $9.3 billion from $8.1 billion in the year-ago period. The company reported earnings of $1.10 a share, compared to 76 cents a share a year ago.
Excluding one-time items, analysts were expecting earnings of $1 a share on revenue of $9.27 billion.
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Honeywell raised the floor for 2011 sales estimates, now expecting sales in a range of $36.5 bilion to $36.7 billion, up about 13% over 2010. Pro forma earnings per share for the full year are now estimated to be between $4 and $4.05 a share, up about 34% over 2010. The company's previous estimates were for $3.85 to $4 a share. Honeywell is an S&P 500 company offering technology, products and services in the aerospace, construction, home and automotive industries. -- Written by Carlton WilkinsonSelect the service that is right for you!
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