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Jan. 31, 2020, 6:55 a.m. EST

Honeywell profit rises above expectations, while sales fell short

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By Tomi Kilgore

Honeywell International Inc. /zigman2/quotes/205583690/composite HON -1.53% reported Friday a fourth-quarter adjusted profit that topped expectations while sales fell a bit shy. The aerospace and industrial company's stock was little changed in premarket trading. Net income declined to $1.59 billion, or $2.16 a share, from $1.74 billion, or $2.31 a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share grew 11% to $2.06, above the FactSet consensus of $2.04. Sales fell 2% to $9.50 billion, below the FactSet consensus of $9.61 billion. Among business segments, aerospace and performance materials and technologies sales missed expectations, while building technologies and safety and productivity sales beat. For 2020, Honeywell expects EPS of $8.60 to $9.00, surrounding the FactSet consensus of $8.80, and expects sales of $36.7 billion to $37.8 billion, below expectations of $38.1 billion. The stock has gained 3.3% over the past three months, while the SPDR Industrial Select Sector ETF /zigman2/quotes/202026558/composite XLI -1.92% has advanced 5.8% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.08% has tacked on 8.1%.

/zigman2/quotes/205583690/composite
US : U.S.: NYSE
$ 144.97
-2.25 -1.53%
Volume: 2.62M
July 7, 2020 4:02p
P/E Ratio
16.66
Dividend Yield
2.48%
Market Cap
$103.33 billion
Rev. per Employee
$366,763
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/zigman2/quotes/202026558/composite
US : U.S.: NYSE Arca
$ 68.63
-1.34 -1.92%
Volume: 6.11M
July 7, 2020 4:00p
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/zigman2/quotes/210599714/realtime
US : S&P US
3,145.32
-34.40 -1.08%
Volume: 2.29B
July 7, 2020 5:18p
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