U.S. industrial conglomerate Honeywell International Inc’s (HON.N) adjusted earnings narrowly beat estimates and the company raised its forecast for 2018 profit, citing lower tax rates.
The net loss was $2.41 billion, or $3.18 per share, in the quarter ended Dec. 31, compared with a profit of $1.03 billion, or $1.34 per share, a year earlier.
Excluding the $3.8 billion tax provision, Honeywell earned $1.85 per share in the quarter, compared with expectations of $1.84.
The company’s revenue rose 8.6 percent to $10.84 billion, topping estimates of $10.75 billion.
Honeywell, which makes everything from jet engines to thermostats, said it now expects 2018 earnings in the range of $7.75 to $8.00 per share, compared with $7.55 to $7.80 per share previously.
Shares of the company were little changed in premarket trading, Reuters reports.
