On Thursday, Honeywell International Inc., a subsidiary of Honeywell Automation Inc., reported a third-quarter profit that was better than expected, driven by strong results in its aviation business. Organic sales in Honeywell’s aerospace business increased 18% in the quarter. Earnings per share (EPS) for the quarter came in at $0.27, while analysts expected earnings of $0.23 per share.
For the full year, Honeywell expects adjusted earnings per share to be in the low-$9.10s range, up from last year’s estimate of $0.20. The company expects full-year sales to be in the high-$40s range.
Honeywell, based in Charlotte, North Carolina, has raised its full-year sales forecast, now expecting sales to be between $35.8 billion and $35.3 billion for the year, up from its previous guidance of $35.2 billion to $35.4 billion. Earlier this week, industrial giant, 3M Co., and aerospace peer, RTX, also raised their full-year sales forecasts.