Honeywell Tops Profit, Sales Estimates

Honeywell International Inc. said Friday it had net income of $1.192 billion, or $1.47 a share, in the third quarter, up from $1.007 billion, or $1.24 a share, in the same period a year ago. The industrial conglomerate said sales rose to $10.108 billion from $9.647 billion. The FactSet consensus was for per-share earnings of $1.41 and sales of $10.039 billion. The company raised the low end of its 2014 per-share outlook by 5 cents to $5.50 to $5.55, for an 11% to 12% gain from the year earlier. Honeywell is now expecting 2014 sales of $40.3 billion to $40.4 billion and free cash flow of $3.9 billion. Shares were little changed in premarket trade and are down 5.5% in the year to date, while the S&P 500 has gained 0.8%.