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The company also cut its full-year revenue
forecast to $39 billion-$39.6 billion from $40.5-$41.1 billion
earlier, below the average analyst estimate of $40.52 billion,
according to Thomson Reuters I/B/E/S.
Honeywell's shares were down nearly 1 percent at $103 in
premarket trading on Friday.
Sales in the company's aerospace business — its largest — fell 6
percent to $3.61 billion, while sales at its automation and
controls business fell 3 percent.
The Morristown, New Jersey-based company makes aircraft engines,
cockpit electronics and climate control systems.
Honeywell sold its friction materials business to Federal Mogul
last year for about $155 million.
Revenue for the first quarter fell nearly 5 percent to $9.21
billion, missing the average analysts estimate of $9.48 billion.
Net income attributable to Honeywell rose to $1.12 billion, or
$1.41 per share, in the first quarter ended March 31, from $1.02
billion, or $1.28 per share, a year earlier.
Up to Thursday's close, the company's shares had risen 4 percent
this year.
(Reporting by Rohit T. K. in Bengaluru; Editing by Simon
Jennings)
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