BUZZ-PREVIEW: Honeywell seen posting 5% y/y revenue increase - China's rare earth export restrictions eyed

Reuters
04/29
BUZZ-PREVIEW: Honeywell seen posting 5% y/y revenue increase - China's rare earth export restrictions eyed

** Shares of Honeywell International HON.O down 0.5% on Mon ahead of quarterly results due before the bell Tues

** Industrial conglomerate seen posting Q1 adj EPS of $2.21, a 1.7% y/y decrease, on rev of $9.59 bln vs. $9.11 bln in Q1 2024, according to LSEG data

** HON has beaten or met EPS estimates every qtr going back to at least Q1 2020, per LSEG

** On April 4, Beijing retaliated against President Donald Trump's tariffs on Chinese goods by placing export restrictions on rare earth metals, a concern for some U.S. aerospace manufacturers who source them from China

** On February 6, co issued disappointing 2025 profit and revenue forecasts; announced it would split its aerospace and automation units into separate businesses

** Of 27 analysts covering HON, 14 rate stock "buy" or stronger, remaining 13 recommend "hold"

** Median 12-mo PT of $222.73 down 7.2% from 3 mths ago. Stock last traded at $198.08

** HON shares now down ~12% YTD compared with the Dow's .DJI about 6% slide over the same time period

(Reporting by Stephen Culp)

((stephen.culp@thomsonreuters.com; 646-223-6076;))

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