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(Reuters) -Honeywell International reported better-than-expected quarterly profit and raised its full-year guidance on Friday, helped by a rebound in demand in its core businesses which serve the aerospace and aerospace industries. energy.
The U.S. industrial conglomerate, which manufactures everything from aircraft engines to catalysts used in gasoline production, has seen its bottom line boosted by increased domestic air traffic and increased demand for fuel as more and more more people have started traveling after COVID-19 vaccinations.
“We are particularly pleased to see a turnaround in several of our key end markets that have been hit hardest by the pandemic, with the commercial aerospace aftermarket and UOP (energy) business resuming growth over the course of the year. quarter, ”said CEO Darius Adamczyk.
Sales of Honeywell’s largest aerospace unit rose 8.8% to $ 2.77 billion in the second quarter ended June 30, while revenue from its materials and technology business performance serving the energy sector jumped 15% to $ 2.55 billion.
Honeywell is also benefiting from increased investment in automation, as e-commerce companies seek to accelerate automation to meet the explosive growth in demand.
This increased sales of the company’s security and productivity solutions business, which manufactures warehouse automation equipment and counts Amazon.com as a customer, by 35% to $ 2.08 billion. during the quarter.
Honeywell said it now expects annual sales to be between $ 34.6 billion and $ 35.2 billion, up from its previous forecast of $ 34 billion to 34.8 billion. billions of dollars.
The company also raised its earnings forecast to around $ 7.95 to $ 8.10 per share, from $ 7.75 to $ 8 per share previously.
Excluding items, Honeywell gained $ 2.02 per share above the analysts’ average estimate of $ 1.94, while net sales rose 17.8% to $ 8.81 billion over of the quarter.
(Reporting by Ashwini Raj and Ankit Ajmera in Bangalore; editing by Shinjini Ganguli)
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