Honeywell Sales Up 3% in Q1 of 2016
Sales reached $9.5 billion for the quarter and earnings per share were also up 9%.
With the strong numbers in Q1, Honeywell is raising its low-end of its full-year earnings guidance range.
MORRIS PLAINS, N.J. — Honeywell reported a 3% increase in sales in the first quarter of 2016 to over $9.5 billion.
The company, which released its financial report on Friday, also reported a 9% bump in earnings per share at $1.53, compared to $1.41 in the first quarter of 2015.
“Honeywell had a strong start to 2016, delivering on our sales and earnings commitments in the first quarter,” said Honeywell Chariman and CEO Dave Cote. “As a result of the first quarter performance, we are raising the low-end of our full-year earnings guidance range to $6.55-$.670, up 7%-10%, and remain committed to our full-year core organic sales growth and free cash flow outlook.”
Here are the numbers on each of Honeywell’s business segments:
- Aerospace is up 3% in sales at more than $3.7 billion for the quarter
- Automation and Control Solutions is up 13% at almost $3.7 billion
- Performance Materials and Technologies fell 9% to $2.1 billion
“Looking ahead, our message and our planning will not change,” Cote said. “We will support growth where there are opportunities to drive outperformance, be cautious in our sales planning, plan costs and spending conservatively, and continue to support the seed planting for new products, services, geographics and process improvements that allow us to perform well now and in the future.”
For the entire financial report, click here.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Related Content
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.
