Honeywell Beats Profit Expectations, But Misses On Sales And Cuts Outlook

Honeywell International reported on Friday a first-quarter profit that rose to $1.1 billion, or $1.41 a share, from $1 billion, or $1.28 a share, beating the FactSet consensus of $1.39 a share. Revenue fell to $9.21 billion from $9.68 billion, given business divestitures and the negative impact of currency movements, to miss the FactSet consensus of $9.48 billion. For 2015, the industrial conglomerate cut is sales outlook to a range of $39 billion to $39.6 billion from $40.5 billion to $41.1 billion, but raised the lower end of its EPS outlook to a range of $6 to $6.15 from $5.95 to $6.15. The stock, which slipped 0.4% in light premarket trade, has gained 4% year to date, while the S&P 500 has advanced 2.2%.