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Honeywell lowers upper end of 2016 profit forecast
October 6, 2016 / 9:36 PM / a year ago

Honeywell lowers upper end of 2016 profit forecast

Oct 6 (Reuters) - Aero parts supplier Honeywell International Inc lowered its 2016 sales and profit forecast, partly due to lower shipments in its aerospace division.

The company said it expects 2016 earnings per share of $6.60-$6.64, down from its previous forecast of $6.60-$6.70.

Honeywell’s core organic sales are now expected to be down 1-2 percent for 2016, compared with a 1 percent decline it had estimated previously.

Honeywell said the revised forecast also reflects the separation of its former automation and control solutions business into two new reporting segments and impact of acquisitions and divestitures. (Reporting by Ankit Ajmera in Bengaluru; Editing by Shounak Dasgupta)

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