Diversified technology and manufacturing company Honeywell International Inc. (HON) reported Friday an increase in second-quarter profit, helped by improved demand across most of its businesses. The company also raised its full year earnings and sales forecast and said it remains cautious about the near-term outlook due to the ongoing economic uncertainties. For the second quarter, net income attributable the Morris Township, New Jersey-based company improved to $468 million from $450 million a year ago. Earnings per share remained flat at $0.60.
Excluding non-cash pension expense, earnings increased 24% to $0.78 per share from $0.63 per share a year ago.
On average, 18 analysts polled by Thomson Reuters expected the company to report earnings of $0.57 per share for the quarter. Analysts' estimates typically exclude special items. Segment-wise, profit from Aerospace decreased to $443 million from $454 million in the preceding year. Sales were down 3%. Automation and Control Solutions posted profit of $401 million, up from $346 million a year ago and sales improved 7% from last year. Profit from Specialty Materials increased to $214 million from last year's $150 million, with 20% growth in sales. Transportation Systems profit for the quarter was $115 million, higher than $25 million in the year earlier and sales surged 30% from last year.
Net sales for the quarter grew 8% to $8.16 billion from $7.57 billion in reported in the prior-year quarter. Fifteen analysts estimated revenues of $8 billion for the quarter. In the sequential first quarter, net income attributable to the company was $386 million or $0.50 per share, and adjusted earnings totaled $0.68 per share. First-quarter net sales was $7.78 billion. Looking ahead to the full year, the company expects earnings in the range of $2.40-$2.50 per share on a reported basis, and $3.14-$3.24 per share, excluding non-cash pension expense. Earlier, the company had projected fiscal 2010 earnings in the range of $2.30 - $2.45 per share and adjusted earnings in the range of $3.07 - $3.22 per share.
Twenty-one analysts currently project full-year earnings per share of $2.48.
The company now anticipates full-year sales of $32.4 billion - $32.9 billion, up from the prior guidance of $31.5 billion - $32.3 billion. Eighteen analysts anticipate revenues of $32.15 billion for the year. Dave Cote, chairman and chief executive officer of the company said, "Turbochargers and general industrial products continue to rebound, and we're starting to see a sequential up-tick in commercial aerospace orders. Our improved 2010 outlook reflects our strong first half performance and the continued momentum we're seeing in our businesses, but, as usual, we'll maintain a conservative stance in our planning assumptions and operating disciplines for the remainder of the year."
HON is currently trading at $43.07, up $0.41 or 0.96%, on a volume of 596 thousand shares In the past 52 weeks, the shares have been trading in a range of $33.07-$48.63 on the NYSE.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.