Honeywell: raises forecast after 'very strong start' to 2018

(CercleFinance.com) - Diversified US manufacturer Honeywell reported an 11% rise in quarterly profit and boosted its full-year guidance, citing "healthy demand" for its aerospace and automotive products.


The maker of control technologies and performance materials said on Friday that first-quarter earnings per share rose to 1.89 dollar, from 1.71 dollar a year earlier.

Revenue rose by 9% to 10.4 billion dollars, with organic growth of 5% that was driven by original equipment for commercial aviation and growth in orders at the warehouse automation business.

The company raised its full-year sales forecast to between 42.7 billion dollars and 43.5 billion dollars, from a previous range of 41.8 billion dollars to 42.5 billion dollars.

Honeywell now expects full-year EPS of 7.85 dollars-8.05 dollars, compared to 7.75 dollars-8.00 dollars previously.

The New Jersey-based company said that preparations to spin-off its transportation systems and homes businesses were well underway, expecting the spin-off to be complete by the end of the year.

Honeywell shares were up 1.4% in premarket trading.

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