Corp 1000

: Honeywell stock dips as conglomerate misses revenue mark

Honeywell international Inc. HON stock fell 1.9% in premarket trades after the industrial company beat its adjusted earnings target but fell short of its revenue mark. Honeywell said its fourth-quarter profit fell to $1.02 billion, or $1.51 a share, from $1.43 billion, or $2.05 a share, in the year-ago quarter. Adjusted earnings in the latest quarter totaled $2.52 a share, a penny ahead of the Wall Street analyst estimate of $2.51 a share, according to estimates compiled by FactSet. Honeywell’s fourth-quarter revenue increased to $9.19 billion from $8.66 billion. Analysts were looking for revenue of $9.25 billion. Looking ahead, Honeywell expects 2023 adjusted earnings of $8.80 a share to $9.20 a share, compared to the analyst estimate of $9.14 a share. It’s also forecasting 2023 sales of $36 billion to $37 billion, compared to the analyst estimate of $36.96 billion. At the end of the 2022, Honeywell’s backlog was at $29.6 billion, a record. Prior to Thursday’s trades, Honeywell stock is down 3.5% in 2023, compared to a 7.3% increase by the S&P 500 SPX.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

Previous post : Harley-Davidson stock soars premarket after earnings blow past estimates
Next post Free Event February 9: Solopreneur Office Hours with Terry Rice