Why Honeywell Shares Are Sliding Today
Portfolio Pulse from Akanksha Bakshi
Honeywell International Inc (NASDAQ:HON) reported Q2 FY23 sales of $9.15 billion, up 2% Y/Y, missing the consensus of $9.17 billion. Adjusted EPS was $2.23, beating the consensus of $2.21. The company raised its FY23 outlook, expecting sales of $36.7 billion - $37.3 billion, up from prior guidance of $36.5 billion-$37.3 billion. Despite this, HON shares are trading lower by 1.20% at $205.77 premarket on Thursday.
July 27, 2023 | 12:44 pm
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Honeywell's Q2 FY23 sales missed expectations, but adjusted EPS beat consensus. The company raised its FY23 outlook, but shares are trading lower.
Honeywell's Q2 sales missed expectations, which could have led to the decrease in share price. However, the company beat EPS expectations and raised its FY23 outlook, which are positive signals. The market's reaction may be temporary and could change as investors digest the full earnings report.
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IMPORTANCE 80
RELEVANCE 100