Honeywell International Inc (NYSE:HON, ETR:ALD) raised its full-year revenue and profit forecasts on Thursday after reporting better-than-expected second-quarter earnings, driven by strong growth in its building automation and aerospace units.
The industrial conglomerate posted revenue of $10.4 billion, up 8% from a year ago and above analysts’ estimate of $10.05 billion.
Adjusted earnings per share rose 10% to $2.75, topping the $2.66 consensus.
“With Building Automation leading the way, three out of four segments grew sales at better than 5% in the quarter,” the company said, adding that its results “exceeded guidance despite the unpredictable macroeconomic backdrop.”
Honeywell now expects full-year revenue between $40.8 billion and $41.3 billion, up from its prior range and ahead of Wall Street’s $40.3 billion estimate. Adjusted EPS is seen between $10.45 and $10.65, also above expectations.
Segment highlights included a 16% jump in Building Automation sales and 15% growth in Energy and Sustainability Solutions. Aerospace sales rose 11%, while Industrial Automation lagged with a 5% decline.
The company reiterated confidence in its planned breakup into three separate entities and highlighted $13.5 billion in announced acquisitions since December 2023.
Shares of Honeywell fell 4% in early trading despite the earnings and guidance beat likely due to margin pressure and weaker performance in key segments.