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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
06/29/201616:14:23Notification That Annual Employee Plan Report Will Be Submitted...
06/29/201616:13:03Notification That Annual Employee Plan Report Will Be Submitted...
06/29/201603:04:00CEO Behind Honeywell Revival Will Exit -- WSJ
06/28/201619:45:00Honeywell CEO Cote to Step Down in March -- 3rd Update
06/28/201618:21:00Honeywell CEO Cote to Step Down in March -- 2nd Update
06/28/201618:10:00Honeywell CEO Cote to Step Down in March
06/28/201617:57:00Honeywell CEO Cote to Step Down in March--Update
06/28/201617:44:00Honeywell CEO Cote to Step Down in March
06/28/201617:08:59Current Report Filing (8-k)
06/28/201616:51:00Honeywell Names Darius Adamczyk To Succeed Dave Cote As CEO On...
06/27/201613:10:00Egypt Says EgyptAir Flight 804 Black Boxes Arrived in France
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06/27/201607:55:00Morning Analysis on Diversified Machinery Equities - General...
06/22/201607:10:00FAA Joins Push To Use Wireless Signals For Aircraft-Safety Systems
06/21/201609:00:00Help Avoid Costly Water Damage With Honeywell's Lyric™ Wi-Fi W...
06/20/201613:54:00Honeywell To Release Second Quarter Financial Results And Hold...
06/19/201622:00:00EgyptAir Black Boxes Undergo Tests
06/17/201607:40:00EgyptAir Flight 804 Flight Data Recorder Recovered
06/15/201607:00:00Honeywell Turbo Technologies Lead The 2016 Field For The 24 Hours...
06/15/201601:00:00Honeywell Turbo Technologies Lead The 2016 Field For The 24 Hours...

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