January 31, 2020 / 12:10 PM / 2 months ago

Honeywell says 737 MAX grounding to hurt sales growth in 2020

Jan 31 (Reuters) - Honeywell International Inc on Friday forecast its 2020 sales below market expectations, saying Boeing Co's 737 MAX production halt will hurt its full-year growth rate.

The U.S. aero parts maker said its expects "significant production delays from the 737 MAX production halt" and it was trying to mitigate the impact, but did not provide details on its plans.

Honeywell makes 737 MAX products including auxiliary power units, aircraft lighting, weather radars and cockpit advisory systems that increase flight crew awareness of surroundings during taxi, takeoff and landing.

The company forecast bit.ly/2Sas9FA 2020 sales in the range of $36.7 billion and $37.8 billion, below average analysts' estimate of $38.11 billion, according to IBES data from Refinitiv.

The company said it expects 2020 earnings per share between $8.6 and $9. The midpoint was slightly above the Wall Street estimate of $8.79.

Reporting by Ankit Ajmera in Bengaluru; Editing by Arun Koyyur

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