{"id":2851,"date":"2018-10-19T08:37:11","date_gmt":"2018-10-19T13:37:11","guid":{"rendered":"http:\/\/planesintheair.com\/?p=2851"},"modified":"2018-10-19T08:38:14","modified_gmt":"2018-10-19T13:38:14","slug":"honeywell-profit-beats-on-strong-aero-warehouse-automation-sales","status":"publish","type":"post","link":"https:\/\/planesintheair.com\/?p=2851","title":{"rendered":"Honeywell Profit Beats On Strong Aero & Automation Sales"},"content":{"rendered":"

(Reuters) – Honeywell International Inc (HON.N) beat expectations for third-quarter profit on Friday and lifted its full-year forecasts for cash flow and margins as it rode a boom in e-commerce driven warehouse investment and aircraft production.<\/span><\/p>\n

Shares of Honeywell, which makes everything from aircraft engines to catalysts used in petroleum refining, were up 2.5 percent at $159 in premarket trading.<\/span><\/p>\n

Honeywell has benefited from a rise in global travel that has driven record orders for jets, leading to robust demand for its avionics, braking systems and other aircraft parts.<\/span><\/p>\n

Recovering demand for business jets, for which the company makes engines, thanks to a tax windfall handed to Corporate America by President Donald Trump in January, has also helped the company.<\/span><\/p>\n

Sales at the aviation unit, the company’s biggest business, rose 10 percent to $4.03 billion. Margins expanded by 80 basis points to 22.1 percent in the third quarter ended Sept. 30.<\/span><\/p>\n

Honeywell’s results come a day after Cessna jet maker Textron (TXT.N), one of its customers, reported a 12.5 percent growth in its backlog at $1.8 billion, citing an improving business jet market.<\/span><\/p>\n

The company has also taken advantage of a boom in e-commerce as it supplies warehouse automation equipment and software to customers such as Amazon.com Inc (AMZN.O).<\/span><\/p>\n

Sales in safety and productivity solutions unit, which houses the warehouse automation business, climbed 11 percent to $1.58 billion, while margins jumped 150 basis points to 16.6 percent.<\/span><\/p>\n

Excluding items, Honeywell earned $2.03 per share, beating analysts’ average estimate of $1.99 per share, according to Refinitiv data.<\/span><\/p>\n

The company’s revenue rose 6.3 percent to $10.76 billion, topping the consensus of $10.75 billion.<\/span><\/p>\n

Honeywell increased the low end of its 2018 adjusted free cash flow to $5.8 billion from $5.6 billion, while keeping the top end unchanged at $6.2 billion.<\/span><\/p>\n

The company now expects full-year margins to rise 19.5-19-6 percent, up from 19.4-19.6 percent. Excluding the impact of divestitures, Honeywell said its full-year earnings will be in a range of $7.95 to $8.00 per share.<\/span><\/p>\n

(Reporting by Ankit Ajmera in Bengaluru; Editing by Saumyadeb Chakrabarty)<\/span><\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

(Reuters) – Honeywell International Inc (HON.N) beat expectations for third-quarter profit on Friday and lifted its full-year forecasts for cash flow and margins as it rode a boom in e-commerce driven warehouse investment and aircraft production. Shares of Honeywell, which makes everything from aircraft engines to catalysts used in petroleum refining, were up 2.5 percent at $159 in premarket trading.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[89,1836,1397,868],"tags":[464,201,1918,1917,988,1910,694,372,1200,828,1915,165,163,199,1913,589,1911,412,844,639,515,1914,1288,455,1916,1197,1912],"class_list":["post-2851","post","type-post","status-publish","format-standard","hentry","category-aviation-news","category-defense-news","category-stock-news","category-transportation-news","tag-aircraft","tag-amazon-com","tag-amzn","tag-avionics","tag-business","tag-cash-flow","tag-cessna","tag-donald-trump","tag-e-commerce","tag-engines","tag-global","tag-hon","tag-honeywell","tag-international","tag-investment","tag-jet","tag-margins","tag-news","tag-petroleum","tag-president","tag-production","tag-refining","tag-reuters","tag-textron","tag-travel","tag-txt","tag-warehouse"],"_links":{"self":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/2851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2851"}],"version-history":[{"count":2,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/2851\/revisions"}],"predecessor-version":[{"id":2854,"href":"https:\/\/planesintheair.com\/index.php?rest_route=\/wp\/v2\/posts\/2851\/revisions\/2854"}],"wp:attachment":[{"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/planesintheair.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}