Honeywell Q3 earnings beat estimates, revenue missesStaff Writer | October 21, 2016
Honeywell International reported better-than-expected earnings but weaker sales for the third quarter.
Honeywell Net income came in at $1.24bn
Excluding $0.07 deployed to restructuring, earnings per share came in at $1.67, which was ahead of forecasts of $1.60.
Sales for the quarter were up 2% to $9.61bn, missing analysts' expectations of $9.78bn.
CEO Dave Cote said: "We are well-positioned for double-digit earnings growth in the fourth quarter, leading to 8%-9% earnings growth in 2016.
"Moving ahead, we are targeting low single-digit core organic sales growth, continued segment margin improvement, and a double-digit increase in EPS in 2017." ■