Seeking Alpha

Honeywell posts in line profit, narrow top line miss, shares fall

"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

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