Honeywell International Inc. (HON) released its second quarter earnings report before opening bell this morning, posting earnings of $1.51 per share on $9.78 billion in sales. Analysts had been looking for earnings of $1.49 per share and $9.74 billion in sales, a 5% year over year decline. In the same quarter last year, Honeywell reported earnings of $1.38 per share and revenue of $10.25 billion.
Key metrics from Honeywell’s earnings report
Honeywell International Inc. management said the company saw a 3% increase in core organic sales and noted a double digit increase in earnings after being normalized for tax.
In the Aerospace division, Honeywell recorded a 5% decline in sales, which fell from $4 billion to $3.8 billion. Profits in the segment increased 2% to $777 million. The main driver of the decline was the divesture of the Friction Materials business and a negative impact from currencies in Transportation Systems. Sales in the Commercial OE business increased 6%.
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