(CercleFinance.com) – Honeywell on Friday signed the biggest rise in the Dow Jones index on Wall Street after raising its earnings forecast for this year.
With an increase of almost 5% after a little less than an hour of trading, the title however failed to tip the Dow Jones into the green, the index posting a decline of around 0.4%. at the same time.
Before the opening, the technology group announced that it had raised its annual forecast range of earnings per share by 10 cents, now expected between 8.50 and 8.80 dollars.
Honeywell has also indicated that it expects annual sales of between 35.5 and 36.4 billion dollars, representing organic growth ranging from 4% to 7%.
In the first quarter, its turnover posted organic growth of 1% to 8.4 billion dollars, a performance located at the top of the objectives that the group had given itself.
Its net profit was down to $1.13 billion from $1.45 billion in the first quarter of 2021.
Honeywell provides industry-specific solutions, such as aerospace products and services, building and industrial control technologies, and performance materials.
Since the start of the year, the group’s share price has dropped 9%, against a decline of around 6% for the Dow Jones.
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