Honeywell shares gain 3% premarket after company tops estimates, raises guidance

Aerospace and defense company Honeywell Inc.‘s shares rose 3% in premarket trade Friday, after the company beat estimates for the second quarter and raised its guidance for the full year. Honeywell said it had net income of $1.267 billion, or $1.68 a share, in the second quarter, down from $1.392 billion, or $1.80 a share, in the year-earlier period. Adjusted per-share earnings came to $2.12, ahead of the FactSet consensus of $2.01. Sales rose 8% to $10.919 billion from $10.078 billion, also ahead of the FactSet consensus of $10.805 billion. The company raised its 2018 guidance, and now expects EPS of $8.05 to $8.15, ahead of the FactSet consensus of $8.03. Shares have fallen 3.8% in 2018 through Thursday, while the S&P 500 has gained 4.9%.