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Honeywell's first-quarter results beat on aviation strength
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Honeywell's first-quarter results beat on aviation strength
Apr 25, 2024 4:30 AM

(Reuters) - Honeywell ( HON ) beat Wall Street estimates for first-quarter results on Thursday as strength in its aviation business offset a slowdown in the company's industrial and building automation units.

Strong demand for parts from customers Boeing and Airbus have lifted results of suppliers such as Honeywell ( HON ) in recent quarters as travel demand booms.

Sales at Honeywell's ( HON ) aerospace unit rose 18% to $3.67 billion in the first quarter.

The Charlotte, North Carolina-based forecast second-quarter adjusted profit per share between $2.25 and $2.35, compared with expectations of $2.35, according to LSEG data.

Honeywell ( HON ) expects second-quarter sales between $9.2 billion and $9.5 billion, the midpoint of which is slightly below estimates of $9.38 billion.

The company maintained its full-year forecast.

Honeywell's ( HON ) first-quarter sales rose 3% to $9.11 billion, beating estimates of $9.03 billion.

On an adjusted basis, the company earned $2.25 per share in the reported quarter, topping expectations of $2.17.

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