Honeywell International on Friday reported quarterly earnings and revenue that beat analysts’ expectations.
The company posted third-quarter adjusted earnings of $1.67 per share on revenue of $9.8 billion.
Analysts expected Honeywell to report earnings of $1.60 a share on revenue of $9.78 billion, according to Thomson Reuters consensus estimates.
“We are well positioned for double-digit earnings growth in the fourth quarter, leading to 8 percent [to] 9 percent earnings growth in 2016,” Chairman and CEO Dave Cote said in statement. “Combined with our ongoing productivity initiatives driven by the Honeywell Operating System, and the strength of our underlying portfolio, the actions we announced this quarter position Honeywell for future out performance.”
Honeywell forecast fourth-quarter earnings of $1.74 to $1.78 a share, and full-year guidance of $6.60 to $6.64 a share.
Shares of Honeywell were trading slightly lower in premarket trade.
In early October, Honeywell saw its stock fall sharply after investors interpreted management’s 2017 outlook as grim.
Last week, Cote told CNBC’s Jim Cramer he was wrong for not giving a more upbeat 2017 outlook, saying the message may have gotten lost in the management’s presentation.
The industrial giant has experienced some changes this year. In February, Honeywell failed in an attempt to acquire United Technologies on antitrust concerns. Later, Honeywell announced it would sell its technology solutions business. The company also spun off its resins and chemicals business as a publicly traded company,AdvanSix.
— CNBC’s Abigail Stevenson contributed to this report.