Honeywell Shares Rise on Earnings Beat, Raised Full-Year Guidance

Shares of Honeywell (HON) rose on Friday after the conglomerate reported a 9% increase in earnings, topping analysts' expectations.
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Shares of Honeywell (HON) rose on Friday after the conglomerate reported a 9% increase in earnings, topping analysts' expectations. Honeywell said it earned about $1.2 billion, or $1.51 a share, up from $1.1 billion, or $1.38 a share a year ago. Revenue slipped to about $9.78 billion from $10.25 billion. Analysts had expected earnings of $1.49 a share on revenue of about $9.74 billion, according to Thomson Reuters. The company attributed the decrease in sales to the unfavorable impact of foreign currency as well as its Friction Materials divestiture. The company raised the low end of its full-year earnings guidance by $0.05 to a range of $6.05-$6.15 a share. Honeywell chairman and chief executive officer Dave Cote said Honeywell remains committed to its full-year core organic sales growth and free cash flow estimates.