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Honeywell Q2 Beat Estimates – Aerospace & Energy Recovers

By John F. Heerdink, Jr.

Honeywell International Inc.’s (HON) reported Q2 earnings recently exceeding analyst estimates, as aerospace and energy businesses started to recover from the pandemic-driven slump, boosting growth from factory automation and building safety products.

Adjusted second-quarter earnings increased to $2.02 a share, rising from $1.26 last year when airlines slashed services and oil prices dropped as travel demand dropped due to the pandemic. Sales jumped 18% to $8.81 billion, while analysts estimated $8.65 billion. Honeywell’s higher-than-expected sales gain at its largest two businesses aerospace and energy allowed the company to raise its profit outlook for 2021.

“Our strong performance in the second quarter took place in a recovering but challenging global environment,”, “We are especially pleased to see a turnaround in several of our key end markets that were hardest hit by the pandemic.” stated Honeywell Chief Executive Officer Darius Adamczyk.

Honeywell increased its profit forecast for this year to between $7.95 and $8.10 a share from $7.75 to $8 and now expects sales to be as much as $35.2 billion, up from $34.8 billion. Organic sales, which exclude acquisitions, divestitures, and currency fluctuations, are expected to rise as much as 6%, higher up from the previous outlook of 5%.

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(Read Original Story: Honeywell Profit Tops Estimates on Aerospace, Energy Rebound in Bloomberg)


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