Business

Honeywell beats Street 1Q forecasts

The Associated Press
Posted: Apr. 21, 2017 7:00 am Updated: Apr. 21, 2017 7:17 am

MORRIS PLAINS, N.J. (AP) MORRIS PLAINS, N.J. (AP) Honeywell International Inc. (HON) on Friday reported first-quarter net income of $1.33 billion.

On a per-share basis, the Morris Plains, New Jersey-based company said it had net income of $1.71. Earnings, normalized for tax, came to $1.66 per share.

The results beat Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.62 per share.

The industrial conglomerate posted revenue of $9.49 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $9.33 billion.

Honeywell expects full-year earnings in the range of $6.90 to $7.10 per share.

Honeywell shares have increased nearly 7 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 5 percent. The stock has increased 7.5 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HON at https://www.zacks.com/ap/HON

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Keywords: Honeywell, Earnings Report

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