By Matt Grossman
Honeywell International Inc. Friday reported sales and profit growth in the latest three-month earnings period, as the easing of the Covid-19 pandemic coincided with greater demand across the company's business lines.
The Charlotte, N.C.-based technology manufacturer posted second-quarter earnings of $2.04 a share, a rise from $1.53 a share in the same quarter a year earlier. Net income attributable to the company was $1.43 billion, up from $1.08 billion in 2020's second quarter.
Excluding one-time items, Honeywell's adjusted profit was $2.02 a share. Analysts polled by FactSet had forecast an adjusted profit of $1.94 a share.
Sales rose 18% to $8.81 billion, from $7.48 billion a year earlier. Analysts had anticipated sales of $8.64 billion.
Organic revenue rose in each of Honeywell's four business lines. Aerospace sales climbed 7% organically as aviation demand recovered amid more flight hours in end markets as the pandemic moderated. Safety and productivity sales climbed 35%, on higher revenue from warehouse solutions, personal protective equipment and other offerings.
The building technologies segment's sales rose 13%, and the performance materials and solutions business line notched 10% growth.
Margins expanded in each of the four segments, Chairman and Chief Executive Darius Adamczyk said.
Write to Matt Grossman at matt.grossman@wsj.com
(END) Dow Jones Newswires
07-23-21 0644ET