CORRECTED: Honeywell Profit Tops Estimates, Raises Low End Of Full-year EPS Outlook

By Ciara LinnaneMarketsMarketWatch Pulse

Honeywell International Inc. said Friday it had net income of $1.28 billion, or $1.66 a share, in the second quarter, compared with $1.194 billion, or $1.51 in the year-earlier period. Sales rose to $9.99 billion from $9.775 billion a year ago. The FactSet consensus was for EPS of $1.64 and sales of $10.136 billion. The company said it is now raising the low end of its full-year EPS guidance to $6.60 to $6.70. In its first quarter earnings, the company said it expected full-year EPS of $6.55 to $6.70. It expects sales of $40.0 billion to $40.6 billion, compared with prior guidance of $40.3 billion to $40.9 billion. The company is creating two new business segments, home and building technologies, and safety and productivity solutions, to align its current automation and control solutions business. Shares fell about 1% premarket, but are up about 16% in the year so far, while the S&P 500 has gained 6%.

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