Honeywell Boosts FY23 Outlook As Q2 Profit Tops Estimates

RTTNews | 518 days ago
Stocktwits
Honeywell Boosts FY23 Outlook As Q2 Profit Tops Estimates

(RTTNews) - While reporting financial results for the second quarter on Thursday, technology company Honeywell international, Inc. (HON) raised its adjusted earnings and sales guidance for the full-year 2023, based on the second-quarter performance and management's outlook for the remainder of the year.

For fiscal 2023, the company now projects adjusted earnings in a range of $9.05 to $9.25 per share on sales between $36.7 billion and $37.3 billion, representing a year-over-year organic sales growth of 4 to 6 percent.

Previously, the company expected adjusted earnings in the range of $9.00 to $9.25 per share on sales between $36.5 billion to $37.3 billion, representing a year-over-year organic sales growth of 3 to 6 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $9.17 per share on sales of $37.01 billion for the year. Analysts' estimates typically exclude special items.

For the second quarter, the company reported net income attributable to Honeywell of $1.49 billion or $2.22 per share, up from $1.26 billion or $1.84 per share in the prior-year quarter.

Excluding items, adjusted earnings for the quarter was $2.23 per share, compared to $2.10 per share in the year-ago quarter.

Sales for the quarter grew 2 percent to $9.15 billion from $8.95 billion in the same quarter last year.

The Street was looking for earnings of $2.21 per share on revenues of $9.17 billion for the quarter.

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

Tags: HON
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