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Tags: Biden Administration | Coronavirus | Financial Markets | Infrastructure | Money | National Debt | Vaccines

Honeywell Cuts Full-Year Sales Target, Expecting Supply Disruptions

Honeywell
"The Future Is What We Make It," reads the website of Honeywell, which announced its profits outlook Friday, Oct. 22, 2021; the aerospace and technology manufacturing company cut its full-year earnings outlook, citing COVID-19-related supply chain disruptions. (AP)

Friday, 22 October 2021 07:00 AM

Honeywell International Inc. on Friday cut its full-year sales forecast, as the U.S. industrial conglomerate anticipates pressure from global supply chain disruptions.

The company said it updated its full-year guidance to "reflect the persistent effects of the macro-challenged environment as well as the third-quarter results."

It cut its full-year sales estimates to between $34.2 billion and $34.6 billion, compared with prior forecast of $34.6 billion to $35.2 billion.

It also narrowed full-year profit forecast range to $8.00 to $8.10, from the prior forecast of $7.95 to $8.10.

Net income attributable to the company rose to $1.26 billion, or $1.80 per share, in the third quarter ended Sept. 30, from $758 million, or $1.07 per share, a year earlier.

Honeywell's quarterly net sales rose to $8.47 billion from about $7.80 billion a year earlier.

© 2022 Thomson/Reuters. All rights reserved.


StreetTalk
Honeywell International Inc. on Friday cut its full-year sales forecast, as the U.S. industrial conglomerate anticipates pressure from global supply chain disruptions.
Honeywell, earnings, supply chain disruption
133
2021-00-22
Friday, 22 October 2021 07:00 AM
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