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Honeywell 2Q Profit Leaps 43% On Double-Digit Sales Boost

DOW JONES NEWSWIRES Honeywell International Inc.'s (HON) second-quarter profit jumped 43% as the company's top line got a boost from strong demand in the aerospace commercial aftermarket. Looking ahead, the company again lifted its full-year earnings guidance by 5 cents a share to $3.85 to $4. The company added it sees sales between $36.1 billion and $36.7 billion, versus a prior forecast of $36 billion and $36.6 billion. The maker of aerospace, building control and safety products has steadily benefited from a broad-based increase in demand. An improving macroeconomic environment has recently helped large industrial companies. Honeywell reported a profit of $810 million, or $1.02 a share, compared with $566 million, or 73 cents a share, a year earlier. Net sales jumped 15% to $9.1 billion. The company previously said it expected to report earnings of 94 cents to 98 cents on $9.1 billion to $9.3 billion in revenue. Honeywell's automation and control-systems business, which serves the commercial construction industry and is the company's largest top-line contributor, saw net sales pop 20%. The aerospace unit's net sales rose 6.2%, helped by strong sales in the commercial aftermarket. Shares were recently off 1.4% to $57.40 in premarket trade. The stock is up 9.5% since the start of the year. -By Mia Lamar, Dow Jones Newswires; 212-416-3207; mia.lamar@dowjones.com

Stock News for Honeywell (HON)
DateTimeHeadline
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