HON.N) posted fourth-quarter income that was roughly flat in contrast with a yr earlier, whereas analysts have been anticipating a rise, harm by weak spot in its aerospace and vitality companies.
Honeywell additionally reiterated its earnings and natural gross sales progress forecast for the present yr, which it had issued in mid-December.
The firm’s shares have been down about 1.7 p.c at $116 in low volumes in premarket buying and selling on Friday.
Net earnings attributable to Honeywell decreased 13.4 p.c to $1.03 billion, or $1.34 per share within the quarter ended Dec. 31. Excluding objects, it earned $1.74 per share.
Revenue was little modified at $9.99 billion.
Analysts had anticipated fourth quarter earnings of $1.74 per share on income to rise to $10.15 billion, in keeping with Thomson Reuters I/B/E/S.
Sales in Honeywell’s aerospace enterprise, its greatest, declined about eight p.c. The enterprise makes engines for plane made by Bombardier Inc (BBDb.TO), Textron Inc (TXT.N) and General Dynamics Corp (GD.N) amongst others.
Sales in Honeywell’s efficiency supplies and applied sciences unit, which makes catalysts and absorbants used for petroleum refining, dropped 4.7 p.c.
Honeywell had, in December, forecast 2017 earnings per share of $6.85-$7.10 and mentioned it anticipated natural gross sales progress of 1-3 p.c, partly helped by the stabilizing oil and gasoline market.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Savio D’Souza)