Honeywell beats profit estimates, raises full-year forecast

Honeywell beats profit estimates, raises full-year forecast

Honeywell International Inc on Thursday reported a better-than-expected quarterly profit and raised it full-year financial forecast as a boom in air travel drove demand for its aircraft parts used in the commercial airline industry.

A logo of Honeywell is pictured on their booth during EBACE in Geneva
FILE PHOTO: A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse

REUTERS: Honeywell International Inc on Thursday reported a better-than-expected quarterly profit and raised its full-year financial forecast as a boom in air travel drove demand for its aircraft parts used in the commercial airline industry.

The company now expects 2019 sales of US$36.5 billion and US$37.2 billion, up from US$36.0 billion to US$36.9 billion. Profit forecast was raised to a range of US$7.90 to US$8.15 from a range of US$7.80 to US$8.10 per share.

Honeywell earned US$1.92 per share in the first quarter, beating analysts' average estimate of US$1.83 per share, according to IBES data from Refinitv.

(This story has been refiled to fix typo in lead)

(Reporting by Ankit Ajmera in Bengaluru)

Source: Reuters

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