Boston, MA 04\/22\/2013 (wallstreetpr) – As the demand for energy surged, Honeywell International Inc (NYSE:HON) (Closed: $74.18, Up by 3.79%) projected a rise of close to 7.9 percent per share in the second-quarter. This estimate was higher than the average analyst estimate. Honeywell is a manufacturer of cockpit thermostats and controls. The company said that its profit may rise from the $1.14 that it stood at a year earlier, to $1.18-$1.23 per share. The average analyst estimate had been $1.21. An increase in demand for Honeywell\u2019s energy services are being driven by a spurt in natural gas production in the United States and in companies that are constructing petrochemical plants.<\/p>\n
Outperforming rivals<\/b><\/p>\n
These factors are making up for the drop in the company\u2019s automobile turbocharger business which depends largely on the demand for trucks and cars. A prominent analyst said that the consecutive strong quarter that the company has had is a reflection of the global equilibrium that seems to be emerging in the short and long-term benefits. Honeywell\u2019s projection is still an indication that it is outperforming its contemporaries. Like almost all other company\u2019s Honeywell too has been bearing the brunt of the snail-paced U.S economy as well as the economic downturn in Europe.<\/p>\n
General Electric Company (NYSE:GE) (Closed: $21.75, down by 4.06%) has also posted a dip in its first-quarter sales as it curtailed manufacturing growth at its Power and Water business. Though Honeywell sales are not on level, its profit is outperforming.<\/p>\n
Sales vs. Profit<\/b><\/p>\n
The manufacturer has raised the lower end of its earnings-per- share target for 2013 to $4.80 which is a reduction of 5 cents. The top end has been left at $4.95. The company\u2019s annual sales forecast has been reduced at both ends and the current projection is $38.8 billion-$39.3 billion which amounts to a figure of $200 million. The first quarter net income rose to $966 million which was a rise of 17 percent or $1.21 per share, from the $823 million, or $1.04 that it stood at a year earlier. Analysts had projected earnings of $1.14 per share. Sales hadn\u2019t moved forward from the $9.33 billion that they stood at a year earlier and was just short of the average prediction of $9.45 billion.<\/p>\n","protected":false},"excerpt":{"rendered":"
Boston, MA 04\/22\/2013 (wallstreetpr) – As the demand for energy surged, Honeywell International Inc (NYSE:HON) (Closed: $74.18, Up by 3.79%) projected a rise of close […]<\/p>\n","protected":false},"author":3,"featured_media":6165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[263],"tags":[1665,2037,1664,1177],"stock_ticker":[],"class_list":["post-6164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-general-electric-company-nysege","tag-honeywell-international-inc-nysehon","tag-nysege","tag-nysehon","entry"],"acf":[],"yoast_head":"\n