MORRISTOWN (dpa-AFX) - (Adds Outlook)
Honeywell International Inc. (HON) reported a profit for its third quarter that increased from last year and beat the Street estimates.
The company's earnings came in at $1.55 billion, or $2.28 per share. This compares with $1.26 billion, or $1.80 per share, in last year's third quarter.
Excluding items, Honeywell International Inc. reported adjusted earnings of $1.53 billion or $2.25 per share for the period.
Analysts on average had expected the company to earn $2.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.
The company's revenue for the quarter rose 5.7% to $8.95 billion from $8.47 billion last year.
Outlook:
On sales expectations, Honeywell said, 'Full-year sales are now expected to be in the range of $35.4 billion to $35.7 billion, up 6% to 7% organically, or up 8% to 9% excluding the one-point impact of COVID-driven mask sales declines and one-point impact of lost Russian sales.'
Further, the company raised its adjusted earnings guidance for the full year to $8.70 to $8.80 per share from its previous projection of $8.55 - $8.80 .
21 analysts on average expect the company to earn $8.66 a share for the full year.
Honeywell International Inc. earnings at a glance (GAAP) :
-Earnings (Q3): $1.55 Bln. vs. $1.26 Bln. last year. -EPS (Q3): $2.28 vs. $1.80 last year. -Analyst Estimate: $2.16 -Revenue (Q3): $8.95 Bln vs. $8.47 Bln last year.
-Guidance: Full year EPS guidance: $8.70 - $8.80 Full year revenue guidance: $35.4 - $35.7 Bln
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