Honeywell Posts Q2 EPS, Revenue Beat

Honeywell rose 0.4% in Friday’s pre-market trade after the company reported financial results for Q2, with earnings and revenue that topped analysts’ forecasts; it also raised its guidance for fiscal 2017 in line with Street estimates. The technology and manufacturing company posted adjusted earnings, ex one-time items, of $1.80 per share, compared with the prior-year period’s $1.64 per share. Analysts polled by Capital IQ were expecting EPS of $1.78.

Revenue was $10.08 billion, up 1% from $9.99 billion in the same quarter last year. The Street view was for revenue of $9.89 billion. The company revised its guidance for fiscal 2017, and now sees EPS of $7.00 – $7.10, up from previously $6.90 to $7.10, on revenue of $39.3 billion – $40 billion, up from previously $38.6 billion to $39.5 billion. The Street view is for EPS of $7.06 on revenue of $39.39 billion.

By Caroline Williams