As per reports, the multinational conglomerate Honeywell (HON) raised its full-year profit forecast as the aviation market has been revived & is boosting demand for the company’s software, parts, and aftermarket services. Quarterly results were also boosted by higher sales in the unit that makes security cameras and fire sensors for buildings as employees returned to offices.
Key Q1 Earning Highlights
- First-quarter adjusted net income per share of $1.91 was reported beating analyst expectations of $1.86 per share on higher prices.
- Sales in the company’s high-margin aerospace unit soared 4.4% to $2.75 billion.
- Honeywell informed a $183 million charge and lost sales of about $30 million in the quarter through March as it “substantially” suspended Russia operations.
- Honeywell expects 2022 adjusted profit per share of $8.50 to $8.80, higher than its previous forecast range of $8.40 to $8.70.
- It also raised the lower end of its full-year sales guidance to $35.5 billion to $36.4 billion from its previous range of $35.4 billion to $36.4 billion.
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