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Honeywell Beats on Q1 EPS

By Eric Volkman - Apr 19, 2013 at 6:49PM

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The industrial conglomerate trumps analyst expectations for bottom line, but top-line growth is flat.

Honeywell (HON -1.50%) results for its fiscal Q1 have been released. For the quarter, net sales came in at 9.33 billion, essentially flat compared to the $9.31 billion in the same period the previous year. Net income, meanwhile, sailed ahead by 17%, advancing to $966 million ($1.21 per diluted share) from Q1 2012's $823 million ($1.04).

Analysts had expected top line of $9.44 billion and EPS of $1.14.

Honeywell also revised its forward guidance. For fiscal 2013, net sales are anticipated to be $38.8 billion-$39.3 billion, with EPS coming in at $4.80-$4.95. The company had previously anticipated ranges of $39.0 billion-$39.5 billion and $4.75-$4.95, respectively.

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