Honeywell Updates Full-year Guidance On Supply Chain Constraints

While reporting third-quarter results on Friday, Honeywell (HON) updated its full-year guidance to reflect the persistent effects of the macro-challenged environment as well as the third-quarter results. The company now sees organic growth in sales at 4% - 5%, revised from prior guidance of 4% - 6%.

"Our disciplined approach to productivity and pricing helped deliver a strong third quarter despite an uncertain global environment marked by supply chain constraints, increasing raw material inflation, and labor market challenges. We continue to focus on mitigating these challenges in the fourth quarter," said Darius Adamczyk, CEO.

Full-year sales are now projected to be in the range of $34.2 billion to $34.6 billion. Previously, the company projected sales in range of $34.6 billion to $35.2 billion. Adjusted earnings per share is now expected to be $8.00 to $8.10, revised from prior guidance range of $7.95 - $8.10. Analysts polled by Thomson Reuters expect the company to report profit per share of $8.07 on revenue of $35.1 billion. Analysts' estimates typically exclude special items.

Third quarter adjusted earnings per share was $2.02, up 29% year over year. On average, 21 analysts polled by Thomson Reuters expected the company to report profit per share of $1.99, for the quarter. Net profit to company was $1.26 billion or $1.80 per share compared to $758 million or $1.07 per share.

Net sales increased to $8.47 billion from $7.80 billion, previous year. Analysts expected revenue of $8.65 billion, for the quarter. Organic sales were up 8%.

Shares of Honeywell were down 3% in pre-market trade on Friday.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Teleflex Inc., a provider of medical technologies for critical care and surgery, is recalling Arrow-Trerotola Over-The-Wire PTD Kit Percutaneous Thrombolytic Device: 7FR, the U.S. Food and Drug Administration said. The Arrow-Trerotola Percutaneous Thrombolytic Device or PTD Catheter, in conjunction with the Arrow Rotator Drive Unit, permits mechanical declotting of native arterio-venous or AV... Privately-held biotechnology company On Target Laboratories, Inc. announce that the U.S. Food and Drug Administration or FDA, has approved Cytalux (pafolacianine) for adult patients with ovarian cancer as an adjunct for intraoperative identification of malignant lesions. Cytalux is the first targeted fluorescent imaging agent that illuminates ovarian cancer intraoperatively. The Federal Trade Commission or FTC has ordered Walmart, Amazon, Kroger and certain other large wholesalers and suppliers to provide information to help it study causes of supply chain disruptions. The agency has launched an inquiry to find the reasons for empty shelves and exorbitant prices. Along with Walmart, Amazon.com, and Kroger, the order has been sent to C&S Wholesale Grocers, Associated..
Follow RTT