Honeywell beats profit estimates, raises full-year forecasts
Sales in Honeywell’s aerospace business, its biggest, fell about 3 percent to $3.67 billion in the second quarter ended June 30, smaller than the company’s forecast of a decline of 5 to 7 percent. Margins in the unit rose to 22.3 percent from 20.9 percent, Honeywell, which makes products ranging from aircraft engines to handheld barcode scanners, said. The unit, which makes jet engines and provides spare parts, repair, overhaul and maintenance services, benefited from strength in its commercial aviation after-sales business and growth in U.S. defense volumes, Honeywell said.
