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Honeywell Earnings: HON Stock Pops on Raised Guidance

William White

Honeywell earnings for the second quarter of 2019 have HON stock flying high on Thursday.

Honeywell Earnings: HON Stock Pops on Raised Guidance

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Honeywell (NYSE:HON) starts off its earnings report by increasing its guidance for the full year of 2019. This has the company bringing its earnings per share range up to $7.95 and $8.15. The previous earnings per share outlook for the year was between $7.90 and $8.15. Wall Street is looking for earnings per share of $8.10 for the full year of 2019.

The Honeywell earnings release also has it increasing its revenue range for the full year of 2019. This new range is between $36.70 billion and $37.20 billion. The old range was from $36.50 billion and $37.20 billion. Analysts are estimating revenue of $37.17 billion for 2019.

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Some results from the Honeywell earnings report for the second quarter of 2019 were also good news for HON stock. This includes earnings per share of $2.10. The company’s earnings per share from the same time last year was $1.93. Wall Street was expecting earnings per share of $2.08 for the quarter.

While not the best for HON stock, Honeywell earnings for the second quarter of 2019 also includes revenue of $9.24 billion. This is a drop from the consumer products, engineering and aerospace company’s revenue of $10.92 billion from the second quarter of 2018. It also didn’t meet analysts revenue estimate of $9.35 billion for the period, but that wasn’t keeping HON stock down today.

HON stock was up 1% as of Thursday afternoon and is up 27% since the start of the year.

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As of this writing, William White did not hold a position in any of the aforementioned securities.

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