Report from Honeywell
Honeywell (NASDAQ:HON) on Thursday reported fourth-quarter results that beat analysts' estimates. However, the earnings figure fell short of forecasts.
The company reported $2.09 earnings per share and revenues of $8.66B. Analysts had assumed in their forecasts that earnings per share would be $2.08 and total revenue would be $8.73B.
Honeywell's share price, up 2% this year, has performed better than the S&P 500 Index overall, falling 3% since the start of the year.
Honeywell shares fell 3.1% in premarket trading. Futures for the S&P500 and Dow Jones indices declined by about 1.2% and 0.4%, respectively.
Chairman and CEO Darius Adamczyk said the company has remained resilient, devoting much of its energies to operational improvements to meet the commitments it has made to shareholders.
Honeywell forecasts
The company expects to earn between $8.40 and $8.70 per share on sales of about $35.9 billion.
Free cash flow is expected to be about $4.9 billion in 2022.
Honeywell is a company that makes electronic control and automation systems. The company was founded by Mark C. Honeywell in 1906. Today, the company is headquartered in Charlotte, North Carolina.
