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July 18, 2019, 6:48 a.m. EDT

Honeywell's stock rises after earnings beat and upbeat guidance, while sales fell shy

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By Tomi Kilgore

Shares of Honeywell International Inc. /zigman2/quotes/205583690/composite HON -0.71% rose 0.8% in premarket trading Thursday after the industrial conglomerate reported a second-quarter profit that topped expectations while sales fell shy, and lifted the low end of its full-year guidance ranges. Net income rose to $1.56 billion, or $2.10 a share, from $1.28 billion, or $1.68 a share, in the year-ago period. Adjusted earnings per share rose to $2.10 from $1.93, above the FactSet consensus of $2.08. Sales fell 15% to $9.24 billion, citing the impact of spinoffs, and missed the FactSet consensus of $9.35 billion, as aerospace sales fell less than expected, building technologies and performance materials and technologies sales were roughly in line with expectations and safety and productivity solutions sales fell more than expected. For 2019, Honeywell lifted the low end of its guidance ranges for EPS to $7.95 to $8.15 from $7.90 to $8.15, for sales to $36.7 billion to $37.2 billion from $36.5 billion to $37.2 billion and for adjusted free cash flow to $5.7 billion to $6.0 billion from $5.5 billion to $6.0 billion. The stock has rallied 27.6% year to date through Wednesday, while the Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA -0.19% has gained 16.7%.

/zigman2/quotes/205583690/composite
US : U.S.: NYSE
$ 166.77
-1.20 -0.71%
Volume: 1.95M
Sept. 19, 2019 6:30p
P/E Ratio
17.67
Dividend Yield
1.97%
Market Cap
$119.99 billion
Rev. per Employee
$366,763
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/zigman2/quotes/210598065/realtime
US : Dow Jones Global
27,094.79
-52.29 -0.19%
Volume: 216.44M
Sept. 19, 2019 5:17p
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