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Honeywell Reinstates FY20 Outlook Above Estimates - Quick Facts

While reporting financial results for the third quarter on Friday, technology company Honeywell international Inc. (HON) reinstated its earnings, adjusted earnings and sales guidance for the full-year 2020. It also provided financial outlook for the fourth quarter.

For fiscal 2020, the company now projects earnings in a range of $6.78 to $6.83 per share and adjusted earnings in a range of $7.00 to $7.05 per share on sales between $31.9 billion and $32.2 billion, representing a year-over-year organic sales decline of 12 to 13 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $6.87 per share on sales of $32.06 billion for the year. Analysts' estimates typically exclude special items.

For the fourth quarter, Honeywell expects earnings and adjusted earnings in a range of $1.97 to $2.02 per share on sales between $8.2 billion and $8.5 billion, representing a year-over-year organic sales decline of 11 to 14 percent.

The Street is currently looking for earnings of $1.88 per share on sales of $8.41 billion for the quarter.

The company also said it is focused on aggressively managing cost, and delivered over $450 million in savings in the quarter, bringing our year-to-date total to $1.1 billion. It now expects to generate $1.5 billion to $1.6 billion of cost savings during 2020, up from the previous estimate of $1.4 billion to $1.6 billion.

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