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News
Honeywell meets, warns
October 17, 2000: 7:37 a.m. ET

Manufacturer's 3Q results in line, but says 4Q will be at or below forecasts
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NEW YORK (CNNfn) - Honeywell International Inc. met third-quarter earnings estimates Tuesday despite disappointing revenue, and warned that fourth-quarter results would come in at or just below current forecasts.

The diversified manufacturer earned $613 million, or 76 cents a diluted share, excluding special items. That was in line with the forecasts of analysts surveyed by earnings tracker First Call and up from net income of $554 million, or 68 cents a diluted share, a year earlier.

With special charges, net income came to $282 million, or 35 cents a diluted share, in the most recent period.

Honeywell said revenue was 3 percent below expectations. It came in at $6.2 billion, up from $6 billion in the year-earlier period.

The company said that it expects earnings in the fourth quarter will be between 86 cents and 88 cents. The First Call consensus is 88 cents a share.

Shares of Honeywell (HON: Research, Estimates), a component of the Dow Jones industrial average, gained $1.18 to $35.81 in trading Monday. Back to top





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