Why Is Honeywell Stock Taking A Hit Today?
Portfolio Pulse from Akanksha Bakshi
Honeywell International Inc (NASDAQ:HON) reported Q4 fiscal 2023 sales of $9.44 billion, a 3% increase Y/Y but below the consensus of $9.70 billion. Adjusted EPS was $2.60, slightly above the consensus of $2.59. The company saw growth in commercial aviation but faced a contraction in operating margin and a decline in Safety and Productivity Solutions sales. Honeywell's 2024 outlook anticipates sales and adjusted EPS below consensus estimates. Shares fell 4.4% to $193.22.
February 01, 2024 | 2:35 pm
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Honeywell reported Q4 sales growth but missed consensus estimates, with a slight EPS beat. The 2024 outlook is cautious, leading to a 4.4% drop in stock price.
The stock price decline is directly related to the reported sales miss and cautious 2024 outlook, despite a slight EPS beat. Investors may be reacting to the lower-than-expected future guidance and current performance metrics.
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