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Honeywell Q3 earnings beat estimates, revenue misses

Staff 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
Net income came in at $1.24bn, or earnings per share of $1.60, down from $1.26bn or $1.62 the year before.

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."