Honeywell International Inc (NYSE:HON, ETR:ALD) on Thursday boosted its 2025 profit outlook as its third quarter financial results topped estimate, fueled by strong demand for its aerospace products.
Honeywell’s revenue for the quarter rose 7% year over year to $10.41 billion, surpassing the analyst consensus estimate of $10.14 billion, according to data compiled by LSEG.
Sales at the company’s aerospace business, the largest contributor to its revenue, improved 15% to $4.51 billion in the third quarter.
Its adjusted earnings per share for the period of $2.82 also exceeded expectations of $2.57.
Honeywell also said it now expects full-year adjusted earnings per share of between $10.60 and $10.70, up from $10.24 to $10.44 previously.
As well, the company confirmed plans to spin off its advanced materials unit, now named Solstice, on October 30.
Solstice will trade independently on the Nasdaq.
"Increased orders across our business segments pushed the company's total backlog to another record high and reinforced the benefit of the new, innovative solutions we are delivering for customers," Honeywell CEO Vimal Kapur said in a statement.
"All of this translated to us exceeding the high end of our guidance for both organic growth and adjusted earnings per share in the quarter."
Honeywell shares gained 5% to $217.22 in early trading on Thursday.