Honeywell International Shares Drop 9% Pre-Bell

Honeywell International shares were lower nearly 9% in recent pre-market trade after the diversified technology and manufacturing concern said Friday it expects 2017 EPS to be between $6.85 and $7.10, mostly below the $7.09 average estimate from analysts polled by Capital IQ.

“We anticipate (2017) organic sales growth of 1% to 3%, segment margin expansion of 70 to 110 basis points, and EPS growth of 6% to 10%, excluding pension MTM (mark-to-market), debt refinancing charges, and 2016 divestitures,” said Darius Adamczyk, chief operating officer.

The company also reaffirmed its fourth quarter and full year 2016 sales and earnings guidance. For 2016, the company is guiding EPS about $6.46, excluding pension mark-to-market adjustment, debt refinancing charges and divestitures.

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