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23 Jul, 2021 13:17 23 Jul, 2021 13:17

Honeywell beats on Q2 sales and earnings, guides higher for full-year

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Industrial conglomerate Honeywell beat analysts' estimates for second quarter profits and sales amid a recovering, but still challenging, global economy.

It also raised its full-year forecasts for revenues, margins, earnings per share and free cash flow.

Company boss, Darius Adamczyk, said: "Our strong performance in the second quarter took place in a recovering but challenging global environment.

"We are especially pleased to see a turnaround in several of our key end markets that were hardest hit by the pandemic, with commercial aerospace aftermarket and the [Universal Oil Products] business returning to growth in the quarter."

For the three months ending in June, the firm posted an 18% increase in sales of $8.81bn (FactSet: $8.64bn) for a 60% jump in earnings per share of $2.02 (FactSet: $1.94), which was at the upper end of company guidance.

Revenue gains were broad based by market segments, with those in Aerospace up by 7% on the year, in Building Technologies by 13%, in Performance Materials and Technologies by 10% and in Safety and Productivity Solutions by 35%.

Over all of 2021, the company now expected to clock in with sales of $34.6-35.2bn, up from $34.0-34.8bn.

That was expected to result in adjusted EPS of $7.95-8.10, up from $7.75-8.0.

As of 1315 BST, shares of Honeywell were dipping 0.43% to $231.75 but within a whisker of their 52-week high of $234.25.


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Pilling and Co Stockbrokers Ltd. is not responsible for the content or accuracy of third party news articles and we may not share the views of the author or publisher.

We provide third party news for your convenience and information only and make no representation or endorsement whatsoever and hereby exclude all liability for any loss or damage that may be incurred by you as a result of your access or use. Please note that third party content may be subject to terms and conditions imposed by the third party owner of that content.