July 23 (Reuters) - Honeywell Technologies raised its full-year 2026 profit forecast on Thursday, helped by resilient demand for its industrial and building automation products, even as quarterly profit missed analysts' expectations.
Shares of the company, which reported its first earnings as a standalone company after a three-way split, rose 1.6% before the bell.
Adjusted profit for the quarter rose 10% from a year ago to $4.52 per share, compared with analysts' estimate of $4.81, according to data
compiled by LSEG.
The company now expects annual adjusted earnings per share of $8.05 to $8.35, compared with last month's forecast of $7.90 to $8.30.
Management last month laid out a plan to increase organic sales by expanding in areas such as data centers, semiconductors, LNG, grid infrastructure, life sciences, healthcare and hospitality.
The company now sees full-year sales of $19.8 billion to $20.0 billion and organic sales growth of 3% to 4%.
Second-quarter sales rose 4% to $9.72 billion, coming above analysts' estimate of $9.51 billion.
In February 2025, Honeywell said it would separate into three standalone companies focused on automation, aerospace and advanced materials.
Honeywell Aerospace was spun off in June, while the advanced materials business was previously separated as Solstice Advanced Materials, leaving Honeywell Technologies as a pure-play automation company focused on industrial, process and building technologies.
(Reporting by Aatreyee Dasgupta in Bengaluru; Editing by Tasim Zahid)
