Economics
Honeywell Sees Profit Growth Rebounding as Energy Sales Improve
- Company targets ‘double-digit’ increase for per-share earnings
- Cote seeks to reverse first decline in net income since 2011
GE, Honeywell Face Hurdle of Slow Economic Growth
This article is for subscribers only.
Honeywell International Inc. said new products and improved demand in the energy industry will help profit growth accelerate in 2017 after sales weakness last quarter forced it to cut earnings targets.
The maker of gas-processing equipment and cockpit controls is targeting an earnings gain in the “double digits” in 2017 and an increase of 8 percent to 9 percent this year. The company is betting on new products such as broadband for airplanes and Solstice, which develops refrigerants that meet more stringent environmental regulations, Chief Financial Officer Tom Szlosek said Friday.