Honeywell revenue misses on weak demand from oil, gas customers, Honeywell International Inc (HON.N), a maker of industrial, aerospace and auto components, appear lower-than-expected annual revenue, aching by anemic appeal from oil and gas customers.
The company, which got about 11 percent of its sales from the activity industry in 2014, aswell cut its full-year acquirement forecast, sending its shares down as abundant as 3.2 percent to $95.33 on Friday.
As oil and gas companies carve basic spending due to anemic awkward oil prices, Honeywell's business that caters to the activity and chemicals industries a part of others was decidedly hit.
Sales in the achievement abstracts and technologies business, fell 13 percent in the third quarter. The business accounted for a division of Honeywell's absolute sales.
Sales fell 2 percent in Honeywell's aerospace business, its largest, and beneath 3 percent in its automation and controls business.
Honeywell said sales in the achievement abstracts and technologies business would be aching in 2016 aswell due to crumbling orders from oil and gas customers.
"There are some pockets that accept abominably created this acting annoyance on us," Chief Financial Officer Tom Szlosek said in an interview, apropos to the company's oil and gas-related business.
General Electric Co (GE.N) on Friday aswell said acquirement in its oil and gas business alone 16 percent in the latest division due to anemic awkward oil prices.
Honeywell, which has been acid jobs and affairs or amalgamation businesses to abate costs, said third-quarter operating margins rose to 18.3 percent from 16.2 percent a year earlier.
But, allowance amplification in 2016 would be bound "given its aiguille operating levels", William Blair analyst Nick Heymann said.
"We ... apprehend a auto in end-market appeal will be a call if the aggregation is to drive advance in the best term", Heymann wrote in a agenda to clients.
Honeywell cut its 2015 acquirement anticipation to $38.7 billion from a ambit of $39 billion to $39.6 billion.
Revenue beneath 5 percent to $9.61 billion in the division concluded Sept. 30, aswell aching by a able dollar.
Core sales advance slowed to 1 percent from a amount of 2-5 percent in the antecedent 5 quarters. Core sales excludes the appulse of currency, M&A and the pass-through of changes in raw actual prices.
Lower costs helped net assets attributable to Honeywell acceleration 8.3 percent to $1.26 billion, or $1.60 per share.
The company, which got about 11 percent of its sales from the activity industry in 2014, aswell cut its full-year acquirement forecast, sending its shares down as abundant as 3.2 percent to $95.33 on Friday.As oil and gas companies carve basic spending due to anemic awkward oil prices, Honeywell's business that caters to the activity and chemicals industries a part of others was decidedly hit.
Sales in the achievement abstracts and technologies business, fell 13 percent in the third quarter. The business accounted for a division of Honeywell's absolute sales.
Sales fell 2 percent in Honeywell's aerospace business, its largest, and beneath 3 percent in its automation and controls business.
Honeywell said sales in the achievement abstracts and technologies business would be aching in 2016 aswell due to crumbling orders from oil and gas customers.
"There are some pockets that accept abominably created this acting annoyance on us," Chief Financial Officer Tom Szlosek said in an interview, apropos to the company's oil and gas-related business.
General Electric Co (GE.N) on Friday aswell said acquirement in its oil and gas business alone 16 percent in the latest division due to anemic awkward oil prices.
Honeywell, which has been acid jobs and affairs or amalgamation businesses to abate costs, said third-quarter operating margins rose to 18.3 percent from 16.2 percent a year earlier.
But, allowance amplification in 2016 would be bound "given its aiguille operating levels", William Blair analyst Nick Heymann said.
"We ... apprehend a auto in end-market appeal will be a call if the aggregation is to drive advance in the best term", Heymann wrote in a agenda to clients.
Honeywell cut its 2015 acquirement anticipation to $38.7 billion from a ambit of $39 billion to $39.6 billion.
Revenue beneath 5 percent to $9.61 billion in the division concluded Sept. 30, aswell aching by a able dollar.
Core sales advance slowed to 1 percent from a amount of 2-5 percent in the antecedent 5 quarters. Core sales excludes the appulse of currency, M&A and the pass-through of changes in raw actual prices.
Lower costs helped net assets attributable to Honeywell acceleration 8.3 percent to $1.26 billion, or $1.60 per share.
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