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Honeywell International profit misses consensus by 36.6% in Q4

Honeywell International Inc. said its fourth-quarter normalized net income was $1.10 per share, compared with the S&P Capital IQ consensus estimate of $1.74 per share.

EPS declined 16.0% year over year from $1.31.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $851.5 million, a decline of 16.9% from $1.02 billion in the prior-year period.

The normalized profit margin fell to 8.5% from 10.3% in the year-earlier period.

Total revenue totaled $9.98 billion, compared with $9.98 billion in the prior-year period, and total operating expenses increased year over year to $8.37 billion from $8.25 billion.

Reported net income fell 13.5% on an annual basis to $1.03 billion, or $1.34 per share, from $1.20 billion, or $1.53 per share.

For the year, the company's normalized net income totaled $5.11 per share, compared with the S&P Capital IQ consensus normalized EPS estimate of $6.60.

EPS was $5.12 in the prior year.

Normalized net income was $3.96 billion, a decline from $4.04 billion in the prior year.

Full-year total revenue increased from the prior-year period to $39.30 billion from $38.58 billion, and total operating expenses increased year over year to $32.62 billion from $31.75 billion.

The company said reported net income came to $4.81 billion, or $6.20 per share, in the full year, compared with $4.77 billion, or $6.04 per share, the prior year.