Shares of Honeywell Worldwide Inc.
HON,
+0.33%
have been up about 1% in premarket buying and selling Thursday after the conglomerate housing aerospace, supplies, and different companies raised its full-year revenue forecast and highlighted that its backlog offers “confidence” within the demand roadmap regardless of difficult financial circumstances. The corporate reported web revenue of $1.55 billion, or $2.28 a share, in contrast with $1.26 billion, or $1.80 a share, within the year-earlier interval. On an adjusted foundation, Honeywell earned $2.25 a share, up from $2.02 a share a yr earlier than, whereas analysts tracked by FactSet have been anticipating $2.16 a share. Income at Honeywell elevated to $8.95 billion from $8.47 billion, whereas the FactSet consensus was for $8.98 billion. “Our backlog stays close to document ranges, closing the third quarter at $29.1 billion, up 9% yr over yr, and offering us with confidence in our demand expectations towards an more and more unsure macroeconomic backdrop,” Chief Govt Darius Adamczyk mentioned in a launch. The corporate now expects $35.4 billion to $35.7 billion in full-year income, whereas its prior outlook known as for $35.5 billion to $36.1 billion. The corporate additionally now anticipates $8.70 a share to $8.80 a share in adjusted full-year earnings, whereas it was beforehand calling for $8.55 a share to $8.80 a share on the metric. Shares of Honeywell have misplaced 11.8% over the previous 12 months because the S&P 500
SPX,
-0.74%
has declined 16%.