Honeywell tops revenue, gross sales expectations, as aerospace’s gross sales miss offset by different section beats

Honeywell Worldwide Inc. HON, -0.54% reported Friday first-quarter revenue and gross sales that topped expectations, as a gross sales miss by the commercial conglomerate’s aerospace enterprise was offset by beats in the entire different enterprise segments. The inventory slumped 1.0% in premarket buying and selling. Internet earnings fell to $1.45 billion, or $2.03 a share,


Honeywell Worldwide Inc.
HON,
-0.54%

reported Friday first-quarter revenue and gross sales that topped expectations, as a gross sales miss by the commercial conglomerate’s aerospace enterprise was offset by beats in the entire different enterprise segments. The inventory slumped 1.0% in premarket buying and selling. Internet earnings fell to $1.45 billion, or $2.03 a share, from $1.61 billion, or $2.21 a share, within the year-ago interval. Excluding nonrecurring objects, adjusted earnings per share got here in at $1.92, above the FactSet consensus of $1.80. Gross sales had been little modified at $8.45 in contrast with $8.46 a 12 months in the past, however beat the FactSet consensus of $8.08 billion. Aerospace gross sales fell 22% to $2.63 billion, lacking the FactSet consensus of $2.73 billion; efficiency supplies gross sales slipped 2% to $2.35 billion however beat expectations of $2.28 billion; security and productiveness gross sales jumped 49% to $2.12 billion, above expectations of $1.79 billion; and constructing applied sciences gross sales grew 6% to $1.36 billion to high forecasts of $1.29 billion. The corporate raised its 2021 outlook for adjusted EPS to $7.75 to $8.00 from $7.60 to $8.00 and for gross sales to $34.0 billion to $34.8 billion from $33.4 billion to $34.4 billion. The inventory has tacked on 7.8% 12 months so far via Thursday, whereas the S&P 500
SPX,
-0.92%

has gained 10.1%.



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