Honeywell Technologies Shares Rally After Strong Quarter, Raised Outlook

According to CNBC, Honeywell Technologies shares rose Thursday after the industrial automation company reported second-quarter revenue of $9.72 billion, up 4.3% from a year earlier and above the LSEG consensus estimate of $9.5 billion, and raised its guidance. Adjusted earnings per share fell 4.2% to $4.52, below the LSEG estimate of $4.27. The results still include Honeywell Aerospace, which was spun off into a separate publicly traded company at the end of the quarter. Excluding aerospace, total orders increased 16% organically, backlog grew 9%, and management lifted its outlook for organic growth, segment margin and adjusted EPS for the full year. Honeywell also guided third-quarter sales to $4.9 billion to $5 billion and adjusted EPS to $2.05 to $2.20, while fourth-quarter sales were projected at $5 billion to $5.1 billion and adjusted EPS at $2.28 to $2.43.