Honeywell Says War in Middle East Hits Sales, Profit Outlook (3)

Honeywell International Inc. said war in the Middle East is hurting revenue, primarily in the process automation unit that serves the customers in the energy industry.

The company forecast second-quarter sales and profit below analysts’ estimates, saying it assumes the headwinds that affected first-quarter growth will last through the current period. A higher tax rate will also cut into earnings per share, the company said.

“Honeywell delivered a strong start to the year while navigating a challenging geopolitical environment,” Chief Executive Officer Vimal Kapur said in a statement.

Shares of Honeywell fell 4% at 9:32 a.m. in New York Thursday. ...