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Why Honeywell Stock Is Up Today

TheMotleyFool

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Why Honeywell Stock Is Up TodayPhoto, wide shot, wide-angle lens, Conglomerate, Midday, harsh overhead sunlight, directional sunlightt, photo by Ansel Adams: https://img.theapi.app/temp/95f18fed-a4d6-4069-b489-4d050c74c618.png

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