Honeywell Aerospace Inc. (NASDAQ:HONA) shares are trending on Thursday.
Shares of the Arizona-based aerospace and defense company fell 2.73% to $172.19 in after-hours trading on Wednesday, after closing up 5.44% at $177.03.
The company reported its third-quarter results, its first as a standalone public company since the June 29 spin-off.
Revenue for the quarter came in at $4.64 billion, surpassing the analyst estimate of $4.59 billion by 1.18%.
Earnings per share of $2.21 beat the expected $1.90 by 16.3%.
Raised Guidance, First Dividend Lift Outlook
Sales rose 2% year over year, and net income climbed 13% to $737 million.
Backlog grew 12% to $19.3 billion. Trailing 12-month orders rose 9%, led by Defense and Space.
CEO Jim Currier said results were "above our expectations." He noted that a small number of mechanical suppliers are still limiting output growth.
The company raised full-year pro forma adjusted EPS guidance to $7.85–$8.00 from $7.60–$7.90. Second-half free cash flow guidance rose to $1.2 billion–$1.4 billion from $1.0 billion–$1.4 billion.
The board also declared a first quarterly dividend of $0.40 per share, payable Dec. 4 to shareholders of record on Nov. 13.
$500 Million Tempe Plant
Separately, Honeywell Aerospace also announced a $500 million, 300,000-square-foot manufacturing facility in Tempe, Arizona, opening in late 2028.
The plant will add internal complex machining, which the company called a constrained area of its supply base. It will also move production of Assure actuation systems and Attune vapor cycle cooling subsystems toward vertical integration.
Trading Metrics, Technical Analysis
Honeywell Aerospace has a market capitalization of $56.11 billion, a 52-week high of $266.62 and a 52-week low of $149.19.
HONA’s Relative Strength Index (RSI) stands at 66.41.
The stock has fallen 11.49% over the past 12 months.
Price Action: In the regular session, the stock gained 5.44% to close at $177.03, according to Benzinga Pro data.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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