Honeywell Earnings More Than Double
Honeywell's
(HON) - Get Honeywell International Inc. Report
fourth-quarter earnings more than doubled from a year earlier as expenses held steady beneath a 10% rise in sales. The company guided 2006 in line with estimates.
Honeywell earned $520 million, or 62 cents a share, in the quarter, compared with $253 million, or 30 cents a share, a year ago. Sales were $7.28 billion, up from $6.64 billion a year ago. Analysts were forecasting earnings of 62 cents a share on sales of $7.23 billion in the latest quarter.
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The company sees earnings of $2.40 to $2.50 a share in 2006, up from its old guidance of $2.35 to $2.50 a share. Analysts were forecasting $2.45 a share.
Among segments, fourth-quarter aerospace sales rose 8% from a year ago, while automation and control solutions sales rose 22%; transportation systems sales fell 3%; and specialty material sales were unchanged. Margins improved in the aerospace, automation and controls, and specialty materials segments.
The stock closed at $36.06 Wednesday.
