MOSCOW (MRC) -- Honeywell International Inc. ( HON ) reported Friday that its first-quarter attributable net income grew to USD1.33 billion from last year's USD1.22 billion. Earnings per share increased 10 percent to USD1.71 from USD1.56 a year ago, said Nasdaq.
On average, 18 analysts polled by Thomson Reuters expected earnings of USD1.62 per share for the quarter. Analysts' estimates typically exclude special items.
The company said its earnings per share, at 25% tax rate, excluding 2016 divestitures, were USD1.66, compared to USD1.50 last year.
Further, for fiscal 2017, the company raised the low end of guidance by 5 cents. The company now anticipates that 2017 earnings per share will be USD6.90 to $7.10, up 7 percent to 10 percent, excluding divestitures, any pension mark-to-market adjustments, and 2016 debt refinancing charges.
For the full year, analysts expect earnings of USD7.04 per share.
Darius Adamczyk, President and Chief Executive Officer of Honeywell, said, "Honeywell reported a strong start to 2017, with over 2 percent organic sales growth, 70 basis points of segment margin expansion, and free cash flow of nearly USD800 million that was more than six times greater than 2016. ...Each of our businesses contributed."
As per MRC, Honeywell announced that Wantong Petrochemical Group is producing ultra-low sulfur diesel fuel using Honeywell UOP’s new HYT-6219 hydrotreating catalyst.
MRC