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Honeywell, an American industrial conglomerate, has lowered its quarterly earnings and sales forecasts.
Dow Jones component stocks, usa industrial conglomerate Honeywell (Honeywell) (HON.US) lowered its fourth-quarter and full-year profit and sales forecasts, with the stock falling 1.7% to $226 in after-hours trading. The company lowered its fourth-quarter sales forecast from between $10.2 billion and $10.4 billion to between $9.8 billion and $10 billion, and adjusted its earnings per share forecast from between $2.73 and $2.83 to between $2.26 and $2.36. In addition, the company reached an agreement with aircraft manufacturer Bombardier to supply aerospace electronics to each other.
Honeywell lowered sales and profit guidance after reaching an agreement with Bombardier.
Gelonghui, December 3 | Honeywell on Monday lowered its profit and sales forecasts for the fourth quarter and the full year to account for the impact of investments related to agreements providing aviation-related technology to Bombardier. Honeywell has reduced its fourth-quarter sales expectations from $10.2 billion to $10.4 billion down to $9.8 billion to $10 billion; the adjusted eps expectations were lowered from $2.73 to $2.83 down to $2.26 to $2.36. The agreement will provide Honeywell's avionics, propulsion, and satellite communication technologies for Bombardier's aircraft. Considering the investment in research and development, Honeywell expects that this agreement will have short-term effects.