|
Shares of the company, which raised the low end of its full-year
earnings forecast, rose 1.4 percent in premarket trading on
Friday.
Honeywell said it expects margins to expand further in the
second half of 2015.
The company raised its full-year earnings forecast to
$6.05-$6.15 per share, from $6.00-$6.15.
Analysts on average were expecting earnings of $6.09 per share,
according to Thomson Reuters I/B/E/S.
Excluding the impact of the dollar, sales in the company's
aerospace business — its largest — rose 3 percent in the second
quarter ended June 30, while sales in its automation and
controls business rose 4 percent.
Reported sales fell 5 percent in the aerospace business and 1
percent in the automation and controls unit.
Net income attributable to Honeywell rose to $1.20 billion, or
$1.51 per share, from $1.10 billion, or $1.38 per share, a year
earlier.
Expenses dropped about 7 percent.
Revenue fell about 5 percent to $9.78 billion.
Analysts had expected earnings of $1.49 per share on revenue of
$9.74 billion.
Up to Thursday's close of $103.57 on the New York Stock
Exchange, the company's shares had risen 3.7 percent this year,
compared with a 3.2 percent rise in the S&P 500 index.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj
Kalluvila)
[© 2015 Thomson Reuters. All rights
reserved.] Copyright 2015 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
 |
|
