Honeywell Shares Surge on Strong Earnings and Corporate Restructuring Plans
Honeywell International reported better-than-expected third-quarter results, driving shares higher. The industrial conglomerate also raised full-year guidance ahead of its planned separation into three independent companies, beginning with next week’s Solstice Advanced Materials spinoff.
Strong Quarterly Performance
Honeywell International shares surged Thursday after the industrial conglomerate reported third-quarter results that exceeded analyst expectations, according to financial data services. Revenue for the quarter ending September 30 reportedly increased 7% year-over-year to $10.41 billion, surpassing the $10.11 billion consensus estimate tracked by LSEG. Sources indicate adjusted earnings per share rose 9.3% to $2.82, beating projections of $2.57.