Honeywell Narrows FY23 Sales, Adj. EPS Guidance Ranges

(RTTNews) - Honeywell (HON) said, for fiscal 2023, the company now expects adjusted EPS in a range of $9.10 - $9.20, revised from prior guidance range of $9.05 - $9.25. Adj. EPS ex. Pension Headwind is anticipated in a range of $9.65 - $9.75, revised from prior guidance range of $9.60 - $9.80.

The company now expects fiscal 2023 sales in a range of $36.8 billion - $37.1 billion, updated from prior outlook range of $36.7 billion - $37.3 billion. Organic growth in sales is projected in a range of 4% - 5%, revised from prior guidance range of 4% - 6%.

Honeywell expects fourth quarter adjusted EPS in a range of $2.53 - $2.63, and sales in a range of $9.6 billion - $9.9 billion, or a growth in sales of 3% - 7% organically.

Third quarter earnings totaled $1.51 billion, or $2.27 per share compared with $1.55 billion, or $2.28 per share, in last year's third quarter. Adjusted earnings per share was $2.27 compared to $2.25. Adjusted earnings per share excluding Pension headwind was $2.41 compared to $2.25. Analysts on average had expected the company to earn $2.23 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items. The company's revenue for the quarter rose 2.9% to $9.21 billion from $8.95 billion last year. Organic growth in sales was 2%, for the quarter.

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