Honeywell International Inc (NYSE:HON) announced better-than-expected second-quarter results as demand for aircraft parts boost profits.
The industrials company reported earnings of US$1.68 per share on revenue of US$10.92bn compared with US$1.80 per share on revenue of US$10.08bn in the previous year’s second quarter.
The New Jersey-based company’s adjusted earnings of US$2.12 surpassed analyst estimates of US$2.01. Revenue also beat expectations of US$10.8bn.
“Organic sales grew 6%, driven by continued strength in aerospace; demand for Intelligrated warehouse automation solutions; and growth in residential thermal solutions, thermostats and ADI global distribution in our homes business,” said CEO Darius Adamczyk in a press release.
Despite a decrease in profit, Honeywell saw strong sales in all segments, especially aerospace.
Aerospace division sales, including parts for some Boeing (NYSE:BA) and Airbus planes, rose more than 10% to US$4.06bn.
Its yearly earnings guidance was raised to US$8.05 to US$8.15 per share from US$7.85 to US$8.05 while its sales forecast was upped to US$43.1bn to US$43.6bn from US$42.7bn to US$43.5bn.
Shares of Honeywell were up nearly 2.5% to US$151.20 in Friday pre-market trading.