Honeywell Tanks in Every Way Imaginable

Honeywell's(HON Quote) manufacturing diversity, normally a hedge against weak business in any one sector, has apparently come back to haunt it.

Reporting second-quarter results Monday, Honeywell said that it suffered steep declines in sales across all of its business segments, including shrinkage of 17% at its core aerospace unit, which makes radars and equipment for aircraft and air-traffic controllers. Honeywell's exposure to commercial aviation manufacturing and the automobile industry -- which the recession has all but devastated -- have hurt Honeywell the most.

Overall, the company's profit dropped 38% from the year-ago period, to $450 million, or 60 cents a share, equaling analysts' expectations. A year ago, Honeywell earned $723 million, or 96 cents a

Read Full Article from TheStreet.com

- Posted: 2009-07-27 10:57:01

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