Honeywell Stock Under Pressure Due to Delayed Growth Expectations
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Strength in part of the business
Honeywell, a manufacturer of industrial, aerospace, and automation products, earned $2.25 per share in the first quarter with revenue of $9.11 billion, surpassing market expectations. Operating margin improved by 130 basis points to 20.4%, driven by success in commercial aviation, defense, and space sectors. However, sales in industrial automation declined due to economic uncertainties.
CEO's Outlook and Market Prospects
CEO Vimal Kapur acknowledges 'pockets of recovery' but emphasizes the need for broader growth. The company's expected earnings range for the current quarter may fall short of analyst estimates, prompting questions on the timing of recovery. Investors await sustained growth in Honeywell's business segments.