Honeywell Lowers Sales Guidance on Supply-Chain Constraints
22 October 2021 - 10:11PM
Dow Jones News
By Dave Sebastian
Honeywell International Inc. said it lowered its sales guidance
for the year due to supply-chain constraints and the ongoing
effects of what it described as a "macro-challenged
environment."
The industrial conglomerate Friday said it sees 2021 sales of
$34.2 billion to $34.6 billion, reflecting organic growth of 4% to
5%. It previously expected sales of $34.6 billion to $35.2 billion,
reflecting organic growth of 4% to 6%.
Organic sales growth strips out the effects from foreign
currency translation and acquisitions and divestitures for the
first 12 months following the transaction date.
Honeywell said it expects adjusted earnings of $8 a share to
$8.10 a share. It previously expected adjusted earnings of $7.95 a
share to $8.10 a share.
The company saw supply-chain constraints, increasing raw
material inflation and labor-market challenges in the third
quarter, for which it posted higher profit and sales, Chairman and
Chief Executive Darius Adamczyk said.
"We continue to focus on mitigating these challenges in the
fourth quarter," he said.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 22, 2021 06:56 ET (10:56 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Honeywell (NASDAQ:HON)
Historical Stock Chart
From Mar 2024 to Apr 2024
Honeywell (NASDAQ:HON)
Historical Stock Chart
From Apr 2023 to Apr 2024
