October 6, 2016 / 9:41 PM / 10 months ago

BRIEF-Honeywell lowers its 2016 sales and profit forecast

2 Min Read

Oct 6 (Reuters) - Honeywell International Inc

* Honeywell updates financial guidance for new reporting segments, portfolio enhancements, and segment outlooks

* Benefits from accounting change and sale of htsi will be deployed to fund restructuring and other charges in Q3

* First- and second-quarter results have been recast to reflect a $0.03 and $0.04 tax benefit

* Sees FY 2016 earnings per share $6.60 to $6.64 excluding items

* Sees Q4 earnings per share $1.74 to $1.78

* Elected to adopt financial accounting standards board's accounting standards update 2016-09 for stock compensation in Q3

* Core organic sales are now expected to be down 1-2 percent for full year

* Impact of potential Q4 debt refinancing to result in a fourth-quarter pre-tax charge of approximately $140 million

* Sees Q4 sales $10.1 billion - $10.3 billion

* Q3 earnings per share view $1.70, revenue view $10.11 billion -- Thomson Reuters I/B/E/S

* Q4 earnings per share view $1.80, revenue view $10.70 billion -- Thomson Reuters I/B/E/S

* Sees Q3 earnings per share about $1.60

* Sees Q3 earnings per share about $1.67 excluding items

* Sees Q3 sales about $9.8 billion

* FY 2016 earnings per share view $6.67 -- Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage:

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