(Reuters) -Honeywell on Thursday raised its 2025 profit forecast despite the impact of a planned separation of its advanced materials unit, signaling robust growth prospects fueled by strong aerospace demand. The business, now named Solstice, is set to start trading independently on the Nasdaq from October 30 and is part of Honeywell’s plan to split […]
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Honeywell lifts 2025 profit outlook despite Solstice spinoff on strong demand
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(Reuters) -Honeywell on Thursday raised its 2025 profit forecast despite the impact of a planned separation of its advanced materials unit, signaling robust growth prospects fueled by strong aerospace demand.
The business, now named Solstice, is set to start trading independently on the Nasdaq from October 30 and is part of Honeywell’s plan to split into three independent companies.
Aerospace suppliers are enjoying strong demand for parts, benefiting from planemakers ramping up production at a time of booming new jet demand.
An existing shortage of new jets has also bolstered the company’s maintenance and repair services, as airlines are forced to fly older, cost-intensive aircraft.
Honeywell now expects full-year adjusted earnings per share between $10.60 and $10.70, which includes a 21 cent hit from the Solstice separation. It previously expected between $10.24 and $10.44, also adjusted for the spinoff.
The company’s aerospace business, its biggest revenue generator, saw sales rise 15% to $4.51 billion in the third quarter, as supply chain snags also appeared to ease.
Honeywell reported overall sales of $10.41 billion in the quarter, up 7% from a year ago.
Its adjusted profit per share came in at $2.82, also up from the $2.58 it posted a year ago.
(Reporting by Utkarsh Shetti in Bengaluru; Editing by Shailesh Kuber)