Honeywell Likely to Deliver Lower 3Q Sales -- Earnings Preview

Date : 10/16/2019 @ 7:18PM
Source : Dow Jones News
Stock : Honeywell International Inc (HON)
Quote : 174.04  0.0 (0.00%) @ 9:20AM

Honeywell Likely to Deliver Lower 3Q Sales -- Earnings Preview

Honeywell (NYSE:HON)
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2 Months : From Oct 2019 to Dec 2019

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   By Dave Sebastian 
 

Honeywell International Inc. (HON) is due to report third-quarter earnings before markets open Thursday. Here is what you need to know.

 

EARNINGS FORECAST: Analysts expect Honeywell to report a profit and adjusted profit of $2.01 for the quarter, according to FactSet. The company is scheduled to hold its investor call at 8:30 a.m. EDT Thursday.

 

REVENUE FORECAST: Analysts expect sales of $9.12 billion, down from $10.76 billion in the year-ago period.

 

WHAT TO WATCH:

 

FORECAST: Honeywell in July lifted the low end of its full-year financial targets as it saw stronger demand and higher organic sales. The company says it expects full-year sales to be between $36.7 billion and $37.2 billion, and for per-share earnings to be between $7.95 and $8.15. Sales growth is softening amid the pressure on the company's safety and productivity solutions business and tougher comparisons for its aerospace division, Wolfe Research analysts said Tuesday, noting that it isn't a major concern to investors. "We really see no credible scenario where Honeywell does not deliver at the upper end of its FY19 range, as embedded in street estimates," they said.

 

BOEING 737 GROUNDING: The Federal Aviation Administration's anticipated recertification of Boeing Co.'s (BA) 737 MAX aircraft later in the fall could result in higher aircraft production in the fourth quarter, thus a boon for suppliers such as Honeywell, William Blair analysts said in a note Oct. 11. Honeywell has maintained that its business wasn't affected much by the grounding of the 737 MAX aircraft and subsequent cuts to production. The company makes mechanical systems and avionics for the 737 MAX.

 

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

October 16, 2019 15:03 ET (19:03 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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