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Honeywell Reports Q1- Battles Amid Slow Recovery In Its Aerospace Business

By John F. Heerdink, Jr.

Honeywell International In. (HON) released first-quarter earnings recently, reporting an EPS of $1.92 per share, beating market estimates of $1.80 per share. Net income dropped nearly 10% to $1.43 billion in the quarter. The company now expects full-year sales to be between $34 billion and $34.8 billion, up from its prior forecast of $33.4 billion to $34.4 billion. A boom in online shopping during the pandemic had boosted sales of its warehouse automation unit.

Honeywell raised supply constraints issues in the second quarter citing a shortage of semiconductors. Sales of Honeywell’s safety and productivity solutions business increased 49%, assisting the company to top profit and revenue estimates. Honeywell who manufactures aircraft parts for Boeing Co and Canada’s Bombardier Inc witnessed and suffered from revenue decline after the COVID-19 pandemic brought air travel to a standstill.

Amid rising infection rates and the low holiday, travel rate led to fewer flight hours and hitting the company’s air transport aftermarket sales, which dropped 48% from last year.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

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(Read Original Story: Honeywell sees slow recovery in commercial aerospace business, shares fall in Reuters)


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