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By Dhirendra Tripathi
Investing.com – Honeywell (NASDAQ:HON) stock fell 2.5% Friday as disappointment over the single-digit growth in revenue from its aerospace segment outweighed the second revision in guidance and overall solid growth in revenue and income.
New orders rose over 20% organically.
Full-year sales are now expected to be in the range of $34.6 billion to $35.2 billion, up from the last revised $34 billion to $34.8 billion.
Adjusted earnings per share for the year is expected to be $7.95 to $8.10, up 10 cents from the high end of the prior guidance range.
Aerospace revenue returned to growth and rose 7% but that disappointed the traders who expected more.
The three other verticals of the company -- safety and productivity solutions, building technologies and performance material -- rose 35%, 13% and 10%, respectively.
All four segments also saw expansion in margins.
Overall, second-quarter sales rose 18% to $8.80 billion. Adjusted earnings per share came in at $2.02, growing 60% and topping the higher end of the $1.86 to $1.96 guidance.
The company listed a boost to buildings and infrastructure in the U.S. because of spending by federal government and upcoming capital reinvestment wave in oil and gas sector as some of the end markets driving growth.