Honeywell Technologies Boosts Profit Forecast on Resilient Demand
Honeywell Technologies has raised its full-year 2026 profit forecast after reporting its first earnings as a standalone business following Honeywell's three-way split. The company reported a quarterly adjusted profit of $4.52 per share, missing analysts' expectations of $4.81. However, shares of the company rose more than 5% during morning trade.
The demand for industrial and building automation products remained resilient, driving growth in various segments. Honeywell's Building Automation unit saw organic sales rise by 9%, while orders increased by 13%. This was largely driven by double-digit growth in data centers, healthcare, and hospitality sectors.
CEO Vimal Kapur stated that the company is seeing a 'sharp inflection' in Process Automation & Technology growth starting from the third quarter. Orders in the Middle East process technology business rose more than 50% during the quarter on refurbishment projects.