Honeywell Lowers Sales Forecast Amid Industrial Automation Slump

The company's Q3 results show revenue growth but fall short of expectations due to weak demand in industrial automation.

Honeywell's third-quarter revenue increased by 6% year-over-year to $9.73 billion but missed analysts' estimates of $9.90 billion.
The Industrial Automation segment saw a 5% decline in sales, attributed to reduced demand in warehouse and workflow solutions.
Despite challenges, Honeywell's Aerospace Technologies segment achieved a 12% increase in sales, driven by strong defense and space offerings.
The company revised its 2024 sales forecast to $38.6 billion to $38.8 billion, down from previous guidance of $39.1 billion to $39.7 billion.
Honeywell's adjusted EPS for the quarter was $2.58, surpassing expectations, even as the company navigates supply chain challenges and inflationary pressures.