By Kelly Cloonan


Honeywell backed its full-year guidance as it looks to close a spinoff of its aerospace division.

The company also on Monday provided an outlook for the remaining company post spinoff, guiding for growth in organic sales and adjusted earnings.

Honeywell said it continues to expect full-year sales of $38.8 billion to $39.8 billion, compared with analyst estimates of $39.4 billion, according to FactSet. Honeywell continues to guide for organic sales growth of 3% to 6%.

The company also continues to forecast adjusted earnings per share of $10.35 to $10.65, compared with analyst estimates of $10.52.

The post-spinoff company, called Honeywell Technologies, expects to post sales of $19.9 billion to $20.2 billion for the full year, with organic sales growth of 2% to 3%. The company also guided for adjusted earnings per share of $3.95 to $4.15.

The new guidance excludes full-year results for the aerospace segment, which it expects to spin off on June 29, and factors in planned divestitures of Honeywell's productivity solutions and services, and warehouse and workflow solutions businesses. The outlook also includes estimated results for the Johnson Matthey Catalyst Technologies acquisition, which it expects to close in the third quarter.

In April, Honeywell said it would sell its productivity solutions and services business for $1.4 billion in cash to Brady. The deal includes its hardware, software and services for high-volume, automated data collection and tracking in mobile computers, barcode scanners and printing.

This past fall, the industrial conglomerate spun off its advanced materials unit, known as Solstice Advanced Materials.

Earlier this year, Honeywell said it planned to spin off its aerospace unit sooner than previously expected after Chief Executive Vimal Kapur said there was considerable progress on its portfolio optimization.

Last year, Honeywell said it has agreed to acquire Johnson Matthey's catalysts unit for $2.42 billion but in February the British platinum refiner said it would cut the price to $1.79 billion, reflecting the unit's performance during this fiscal year.


Write to Kelly Cloonan at kelly.cloonan@wsj.com


(END) Dow Jones Newswires

06-08-26 0808ET