Honeywell exceeded profit expectations in Q1

Honeywell exceeded profit expectations in Q1

Honeywell and Will.i.am bet on fashionable face masks

Honeywell International, the American multinational technology and manufacturing company, reported first-quarter 2021 figures that topped estimates.

Honeywell unveiled an adjusted earnings-per-share (EPS) of $1.92 on revenues of $8.46 billion. The EPS was above the $1.80 consensus, while revenue beat the forecast by $380 million.

For the full year, Honeywell expects its EPS to reach $8, while its sales have been revised to $34.8 billion from $34.4 billion.

At the beginning of April, the company teamed up with rapper and entrepreneur Will.i.am to bring to the market two versions of a high-tech face mask named Xupermask. According to the latter, the mask combines usability, protection, and design into one product. The product retails for $299, and it already hit the shelves.

Honeywell stock price fell more than 1% at the moment of writing. Since the beginning of the year, the company’s stock price gained more than 7%, while USA500 went up 10.1%.

Sources: marketwatch.com, cnbc.com

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