Honeywell Cuts Profit Guidance, Sending Its Stock Lower [Video]

Shares of Honeywell International (HON) fell over 4% in intraday trading Thursday after the maker of a vast array of commercial products lowered its full-year profit guidance based on management’s outlook for the rest of the year, including the impact of recently announced acquisitions.

Honeywell now anticipates fiscal 2024 adjusted earnings per share (EPS) of $10.05 to $10.25, down from its previous outlook of $10.15 to $10.45. However, it raised its revenue guidance to a range of $39.1 billion to $39.7 billion from its earlier guidance of $38.5 billion to $39.3 billion.

The news offset strong second-quarter results, with Honeywell reporting adjusted EPS of $2.49, with revenue rising 4.7% from a year ago to $9.58 billion. Both were above estimates. 

Organic salesat Honeywell’s Aerospace Technologies division jumped 16% to $3.89 billion as rising global flight activity and geopolitical tensions boosted demand for commercial aviation and defense products. Sales also rose at its Energy and Sustainability Solutions and Building …