Why Honeywell Stock Is Up Today
Honeywell International (NASDAQ: HON) reported first-quarter earnings that topped expectations and the company raised its full-year profit forecast. Investors were pleased, sending Honeywell shares up 5% as of 10:30 am ET.
Honeywell, an industrial conglomerate focused on aerospace, automation, and energy, earned $2.51 per share in the first quarter on revenue of $9.8 billion, topping Wall Street's expectation for $2.21 per share in earnings on sales of $9.6 billion. Earnings were up 7% year over year, while revenue was up 8% including acquisitions.
The company's backlog grew by 8%, led by strength in its building automation and energy units.
Source Fool.com
