Shares of Honeywell had their biggest one-day jump in more than four years after the industrial conglomerate backed its 2015 outlook and issued positive guidance for 2016.
The Morris Plains, New Jersey-based company said Wednesday it still expects to earn $6.10 per share this year on sales of $38.5 billion. For next year, the maker of aerospace and control technology products said it expects earnings per share growth of 6 to 10 percent, to a range of $6.45 to $6.70. Sales are seen up between 4 percent and 6 percent, to a range of $39.9 billion to $40.9 billion.
Analysts surveyed by FactSet forecast earnings per share of $6.09 this year and $6.55 next year. Sales are seen at $38.69 billion in 2015 and $40.36 billion in 2016, on average.
Honeywell International Inc. shares rose $5.61, or 5.7 percent, to $104.08 while the broader markets rose about 1 percent. For the year to date, Honeywell shares are up 4 percent.