Honeywell Trims Annual Profit Forecast On Muted Industrial...

July 25 (Reuters) - Honeywell International Inc on Thursday lowered its annual profit forecast, If you cherished this posting and you would like to receive additional information concerning Smart home automation system kindly pay a visit to our web site. due to lower demand in its industrial automation business, sending shares of the diversified industrial firm down 4.5% in premarket trade.

Sales in Honeywell's industrial Home automation pakistan business were hit by volume softness in warehouse and Smart home automation brands workflow solutions as the company looks to offload existing inventory before ordering new products amid an uncertain economic outlook.

The company also said that sales in its mask-making safety and productivity solutions declined year over year.

The unit's organic sales fell 8% in the second quarter ended June 30, from a year ago.

However, sales from the company's aerospace unit, which makes parts such as engines and navigation radios for Home automation with voice control planes produced by Boeing Co and Airbus SE, boosted overall sales by 5% to $9.58 billion.

The Charlotte, North Carolina-based company now expects an annual adjusted profit of $10.05 to $10.25 per share, down from its previous forecast of between $10.15 and $10.45 per share.

On an adjusted basis, quarterly profit came in at $2.49 per share, compared with estimates of $2.42 per share. (Reporting by Anandita Mehrotra in Bengaluru; Editing by Shailesh Kuber)