Honeywell Boosts 2023 Sales, Earnings Outlook
April 27 2023 - 6:57AM
Dow Jones News
By Will Feuer
Honeywell International Inc. raised its full-year sales and
earnings outlook after the industrial company posted
better-than-expected results for the first quarter, led by growth
in its aerospace division.
Honeywell said it now expects full-year sales of $36.5 billion
to $37.3 billion, up from a prior range of $36.0 billion to $37.0
billion. Organic growth, which strips out the effects of currency
fluctuations and mergers, is expected to be 3% to 6%, up from prior
guidance for growth of 2% to 5%.
The company said it now expects to post full-year adjusted
earnings of $9.00 a share to $9.25 a share, up from $8.80 a share
to $9.20 a share.
Chief Executive Darius Adamczyk said a strong backlog of orders
in Honeywell's aerospace business gives the company confidence that
it can meet its full-year guidance.
"Our businesses are poised for sustained growth, our backlog
will support our projections, and our technologically
differentiated portfolio of solutions is allowing us to address the
world's toughest automation, digitalization and sustainability
challenges," he said.
Write to Will Feuer at Will.Feuer@wsj.com
(END) Dow Jones Newswires
April 27, 2023 06:42 ET (10:42 GMT)
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