Honeywell International Inc. (NYSE:HON) released the earnings results from its third quarter this morning before opening bell, posting earnings of $1.47 per share on $10.12 billion in revenue. Analysts had been expecting earnings of $1.41 per share on $10 billion in revenue.

Honeywell International Inc. Beats Earnings Estimates

In the same quarter a year ago, the company posted $1.24 per share in earnings on $9.65 billion in revenue.

Honeywell’s earnings by segment

Honeywell reported growth across its product portfolio. In its Automation and Control Solutions segment, sales rose 9% reported and 4% organically year over year. The company noted a favorable impact from its acquisition of Intermec and also strong organic growth in its Energy, Safety and Security products. Segment profits rose 11%, while segment margins expanded to 15.9%, an improvement of 40 basis points.

In the company’s Performance Materials and Technologies segment, Honeywell saw a 7% increase in sales, both organically and reported. Growth in gas processing and UOP catalyst, as well as acceleration of growth in Process Solutions and improvements in sales in its Advanced Materials drove the sales increase.

Segment profit rose 8%, while segment margins improved by 20 basis points, climbing to 17.5% due to higher volume and better productivity. Price and headwinds from Resins and Chemicals partially offset the profit improvements.

Honeywell raises guidance

The company also increased the low end of its full year earnings per share guidance by 5 cents. Honeywell now expects earnings to be between $5.50 and $5.55 per share for the full year. It projects sales of between $40.3 billion and $40.4 billion, which is a 5% increase in guidance.

“The continued integration and maturation of the Honeywell Operating System throughout our global portfolio is helping to drive sales, margin, earnings and cash flow higher, and plenty of runway remains,” said Honeywell Chairman and CEO Dave Cote in a statement this morning. “We are committed to our ongoing seed planting investments to bolster our great positions in good industries and continuous process improvements to mitigate ongoing global macroeconomic uncertainties.”