Honeywell International Inc. (NASDAQ:HON) announced a mixed set of fourth quarter results, pushing its shares more than 3% lower in early Thursday trade.
Earnings per share (EPS) came in at $2.60, in line with analysts' predictions. However, the company's revenue for the quarter was $9.44 billion, falling short of the anticipated $9.7 billion.
Looking ahead, Honeywell forecasts a FY EPS ranging from $9.80 to $10.10 in line with the consensus $9.96. The company projects its revenue for FY2024 to be between $38.1 billion and $38.9 billion, which is somewhat lower than the market consensus of $39.01 billion.
"Honeywell once again demonstrated its resilience by delivering on our commitments and finishing strong in another economically challenging year," said Vimal Kapur, chief executive officer of Honeywell.
Kapur continued, "As we look toward 2024, our portfolio is well positioned to accelerate both our top line and earnings growth, underpinned by three compelling megatrends — automation, the future of aviation, and energy transition.”