Honeywell Stock Slides 6% After Earnings Beat Is Offset by Lower Profit Guidance

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Honeywell Stock Slides 6% After Earnings Beat Is Offset by Lower Profit Guidance

Dow Jones07-25

Honeywell International Inc.’s stock tumbled 6.4% in premarket trade Thursday, after the aerospace and defense company.

The company had net income of $1.544 billion, or $2.36 a share, for the quarter, up from $1.487 billion, or $2.22 a share, in the year-earlier period. Adjusted for one-time items, the company had EPS of $2.49, ahead of the $2.42 FactSet consensus.

Sales climbed to $9.577 billion from $9.146 billion a year ago, also ahead of the $9.413 billion FactSet consensus.

The company is now expecting full-year sales to range from $39.1 billion to $39.7 billion, up from prior guidance of $38.5 billion to $39.3 billion. But it lowered its full-year adjusted EPS guidance to a range of $10.05 to $10.25, down from prior guidance of $10.15 to $10.45.

The stock has gained 1.9% in the year to date, while the S&P 500 has gained 13.8%.

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