Honeywell International, Inc. Beats Fourth-Quarter Estimates, Shares Jump
Honeywell International announced fourth-quarter results this morning, with both earnings and revenue coming in ahead of analyst estimates.
Wall Street was looking for adjusted earnings of $1.21 per share on roughly $10.2 billion in revenue. Honeywell delivered $1.24 of adjusted earnings per share on sales of $10.4 billion.
Honeywell's growth was led by 16% higher sales and 41% stronger segment profits in the transportation division. The segment is coasting on multiple tailwinds, including commercial vehicle demand in China and strong global interest in light vehicle production. Honeywell delivers parts to many vehicle manufacturers in these markets.
"Even in a continued slow-growth environment, our 2013 sales grew 4% and pro forma earnings were up 11%, above our guidance, exiting the year with better than expected sales in every business," said Honeywell CEO Dave Cote.
Honeywell shares jumped as much as 1.3% higher on the news. The stock has gained 33% over the last 52 weeks, and trades within 1% of annual highs.
The article Honeywell International, Inc. Beats Fourth-Quarter Estimates, Shares Jump originally appeared on Fool.com.
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