- "Despite lower than expected sales in the quarter ... strong execution across the portfolio helped drive earnings at the high-end of our guidance range," Honeywell (HON) CEO Dave Cote says, as the company posts Q3 results that are largely in line with estimates.
- By segment (Y/Y): Aerospace sales fall 2% to $3.04B, while profit in the segment ticks 3% higher on 110 bps in margin expansion; Automation and Control Solutions sales rise 4%, while segment profit jumps 11% on a 90 bps margin expansion; Materials and Tech sales fall 1% organically (+10% reported on acquisition), profit up 11%; Transportation Systems sales rise 6%, segment profit jumps 23% on 190 bps of margin expansion.
- FY13 EPS outlook: $4.90-4.95 versus $4.85-4.95 previous. (PR)
- HON -1.3% premarket
Honeywell posts in line profit, narrow top line miss, shares fall
Oct 18 2013, 08:17 ET