Honeywell trims annual profit forecast on muted industrial...
138.00 €
Published date: 2024/11/17
- Location: 49-300, Kormakítis, Pafos, Cyprus
July 25 (Reuters) - Honeywell International Inc on Thursday lowered its annual profit forecast, due to lower demand Intelligent thermostat in its industrial automation business, sending shares of the diversified industrial firm down 4. If you liked this post and also you desire to get details relating to Wireless home automation generously check out our own webpage. 5% in premarket trade.
Sales in Honeywell's industrial Home automation and smart home systems business were hit by volume softness in warehouse and Home automation systems Lahore workflow solutions as the company looks to offload existing inventory before ordering new products amid an uncertain economic outlook.
The company also said that sales in its mask-making safety and productivity solutions declined year over year.
The unit's organic sales fell 8% in the second quarter ended June 30, from a year ago.
Sales in Honeywell's industrial Home automation and smart home systems business were hit by volume softness in warehouse and Home automation systems Lahore workflow solutions as the company looks to offload existing inventory before ordering new products amid an uncertain economic outlook.
The company also said that sales in its mask-making safety and productivity solutions declined year over year.
The unit's organic sales fell 8% in the second quarter ended June 30, from a year ago.
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