Sales in Honeywell's performance materials and technologies unit, which makes catalysts and adsorbents used for petroleum refining and is its third-biggest, dropped about 9 percent to $2.07 billion, but were above the 10-12 decline forecast by the company.
The company's expected revenue in the current quarter to be 9.32 Billion, seeing a projected current quarter growth of 3.8%, and per annum growth estimates over the next 5 year period of around 6.98%. Analysts polled by Capital IQ were expecting EPS of $1.62. The company posted $1.66 in earnings per share (EPS) and $9.49 billion in revenue, versus consensus estimates from Thomson Reuters that called for $1.62 in EPS and revenue of $9.32 billion.
Net sales during the quarter came in at $9,492 million, down 0.3% year over year.
Total shares held by institutions as of the most recent company filings are 604,867,641 with a reported 35,232,197 bought and 41,299,526 sold. The company's revenue for the quarter was down.3% compared to the same quarter past year. Interest expenses and other financial charges during the quarter were $75 million compared with $85 million reported in the year-ago quarter. Operating income margin expanded 100 bps to 18.8%.
Honeywell International Inc. notes that Home and Building Technologies sales for the quarter were up 3%.
North Korea says 'don't mess with us' as US plans next move
But he and other USA officials have yet to outline a strategy that differs markedly from that of previous administrations. South Korean presidential front-runner Moon Jae-in is pulling ahead in the polls as a May 9 election looms.
Safety and Productivity Solutions had sales increase 25% to $1.32 billion, with a profit of $194 million. Following the release of the earnings report, the stock was up 2.8% at $127.18 in early trading indications Friday.
The company has spent $604 million cash to meet investing activities during the quarter as against cash outgo of $1,196 million in the past year period.
Cash and cash equivalents as of Mar 31, 2017 were $7,710 million compared with $7,843 million recorded in Dec 31, 2016. Our strong operational performance resulted in reported earnings per share of $1.71.
Looking ahead, HON provided in-line guidance for 2017, raising the low end of its full-year EPS outlook to $6.90 to $7.10, up from a prior outlook of $6.85 to $7.10.
Now insiders hold 1,515,655 shares in the business which makes up 0.20% of shares.