Shares of Honeywell International Inc. HON,
It recovered 1.4% in pre-market trading on Friday, after the diversified industrial company reported second-quarter profit and sales that fell, but exceeded expectations. The company said it expects the sales challenges resulting from the COVID-19 pandemic to continue, particularly in the aerospace and oil and gas businesses. Net income decreased to $ 1.08 billion, or $ 1.53 per share, from $ 1.54 billion, or $ 2.10 per share, in the same period last year. Excluding non-recurring items, adjusted earnings per share reached $ 1.26, above the FactSet consensus of $ 1.21. Sales fell 19% to $ 7.48 billion, above the FactSet consensus of $ 7.29 billion. Aerospace sales decreased 28% to $ 2.54 billion, but exceeded the FactSet consensus of $ 2.41 billion; sales of performance materials and technologies decreased 19% to $ 2.22 billion, but exceeded expectations of $ 2.19 billion; security and productivity sales fell 1% to $ 1.54 billion to exceed expectations of $ 1.43 billion; and sales of construction technologies dropped 19% to $ 1.18 billion, with no expectations of $ 1.24 billion. The stock has declined 13.2% to date through Thursday, while the DIA Jones Industrial Average DJIA,
it has lost 6.6%.
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