Honeywell Earnings Are Good. The Stock Isn't Up.

Industrial firm Honeywell International reported third-quarter earnings that beat estimates. Guidance was fine, too.

Honeywell also narrowed the earnings-per-share guidance range for 2023 to $9.10 to $9.20, keeping a midpoint of $9.15. That implies fourth-quarter earnings per share of about $2.60, while the consensus estimate is just under $2.60, according to FactSet. Management’s goal for segment operating-profit margins is 25%. This year, Honeywell is expected to produce average profit margins of about 22.5%.

Newsletter Sign-up Through Wednesday’s close, Honeywell stock is down about 6% over the past 12 months, while the S&P 500 and Dow Jones Industrial Average are up about 9% and 4%, respectively.

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