Honeywell Raises Earnings Outlook Following Successful 1-for-2 Reverse Stock Split]

Honeywell Technologies (HON) has increased its profit projections for the second half and full year, reflecting the impact of its recently implemented 1-for-2 reverse stock split that took effect on June 29.

Following the reverse split, which reduced outstanding shares from 634 million to 317 million, the company now expects second-half adjusted earnings per share of $4.40 to $4.70, up from the previous forecast of $2.20 to $2.35.

For the full year, Honeywell revised its adjusted EPS guidance to $7.90 to $8.30, compared to earlier expectations of $3.95 to $4.15.

The company maintained its sales outlook, projecting $10.1 billion to $10.3 billion for the second half and $19.9 billion to $20.2 billion for the full year.

Honeywell shares closed 2.08% lower at $220.36 on Wednesday.

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