Honeywell Posts 2Q Profit

Honeywell Posts 2Q Profit
MORRIS PLAINS, N.J. (AP) — Honeywell International Inc. reported second-quarter profit of $1.27 billion.
On a per-share basis, the Morris Plains, New Jersey-based company said it had profit of $1.68. Earnings, adjusted for non-recurring costs, came to $2.12 per share.

The results topped Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $2.01 per share.

The industrial conglomerate posted revenue of $10.92 billion in the period, also exceeding Street forecasts. Six analysts surveyed by Zacks expected $10.78 billion.

Honeywell expects full-year earnings in the range of $8.05 to $8.15 per share, with revenue in the range of $43.1 billion to $43.6 billion.

Honeywell shares have dropped roughly 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has risen nearly 5 percent. The stock has climbed slightly more than 8 percent in the last 12 months.


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