Honeywell Q3 Earnings: Revenue And Profit Growth, Adjusts Annual Outlook Factoring Acquisitions
Portfolio Pulse from Lekha Gupta
Honeywell International Inc. reported mixed Q3 results with EPS beating expectations but sales missing. The company lowered its FY24 revenue outlook, causing shares to trade lower. Despite sales headwinds, Honeywell saw growth in defense, space, and building solutions. The company also revised its segment margin and cash flow outlook.
October 24, 2024 | 12:58 pm
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NEUTRAL IMPACT
Themes Transatlantic Defense ETF, which includes Honeywell, may see minor impact due to Honeywell's lowered revenue outlook.
As an ETF that includes Honeywell, Themes Transatlantic Defense ETF may experience minor fluctuations due to Honeywell's performance. However, the impact is likely limited given the ETF's diversified holdings.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30
NEUTRAL IMPACT
Invesco Aerospace & Defense ETF, which includes Honeywell, may see minor impact due to Honeywell's lowered revenue outlook.
As an ETF that includes Honeywell, Invesco Aerospace & Defense ETF may experience minor fluctuations due to Honeywell's performance. However, the impact is likely limited given the ETF's diversified holdings.
CONFIDENCE 80
IMPORTANCE 40
RELEVANCE 30
NEGATIVE IMPACT
Honeywell's Q3 results showed an EPS beat but a sales miss, leading to a lowered FY24 revenue outlook. The stock is trading lower as a result.
The mixed Q3 results, with an EPS beat but a sales miss, and the lowered FY24 revenue outlook are likely to negatively impact Honeywell's stock price in the short term. The market has reacted with a 1.98% drop in premarket trading.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100