It also came in above the high end of management's guidance.
But here's the root of Thursday's selling: Honeywell downwardly revised its full-year guidance for segment margin, earnings per share, and cash flow guidance.
The changes are tied to the inclusion of previously closed and announced acquisitions, as well as a slower-than expected-rebound for short-cycle businesses.
Unfortunately, despite some "pockets of short-cycle strength," other short-cycle businesses "are not accelerating as much as we had hoped," CFO Greg Lewis said on the call.
But here's the root of Thursday's selling: Honeywell downwardly revised its full-year guidance for segment margin, earnings per share, and cash flow guidance.
Persons:
Honeywell downwardly, Greg Lewis, Vimal, Lewis, abate, Jim Cramer's, Jim Cramer, Jim, Daniel Barry
Organizations:
Honeywell, Revenue, LSEG, Emerson, Aerospace Technologies, Management, Aerospace, Automation, Carrier's, Solutions, CAES Systems Holdings, Air Products, Industrial Automation, Energy, Sustainability Solutions, CNBC, Bloomberg, Getty
Locations:
UOP, Morristown , New Jersey