, Columnist
Is That You, Honeywell?
Shareholders are having trust issues with a company they'd grown to count on.
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In the art of relationships, it's important to manage expectations. That's a lesson Honeywell is learning all too well this week.
Late Thursday, the $81 billion maker of airplane autopilot controls and fire detection systems lowered its earnings and organic revenue expectations for both the third quarter and all of 2016. Honeywell now expects earnings this year to amount to $6.64 a share at most, down from a previous forecast of as much as $6.70. That in itself wasn't great, but it was made worse by the fact that Honeywell had affirmed its previous guidance less than a month ago at a conference hosted by Morgan Stanley.