: Honeywell stock dips after profit tops expectations but revenue comes up a bit shy

Shares of Honeywell International Inc. HON slipped 0.6% in premarket trading Thursday, after the aerospace and defense company reported second-quarter profit that topped expectations but revenue that came up a bit shy as continued strength in aerospace was offset by weakness in safety and productivity. Net income rose to $1.50 billion, or $2.22 a share, from $1.26 billion, or $1.84 a share, in the year-ago period. Excluding nonrecurring items, adjusted earnings per share of $2.23 beat the FactSet consensus of $2.21. Sales grew 2.2% to $9.15 billion, just below the FactSet consensus of $9.18 billion. For 2023, the company nudged up its guidance ranges for adjusted EPS to $9.05 to $9.25 from $9.00 to $9.25 and for sales to $36.7 billion to $37.3 billion from $36.5 billion to $37.3 billion. The stock has gained 4.9% over the past three months through Wednesday while the Dow Jones Industrial Average DJIA has tacked on 5.0%.

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