Honeywell has released its second quarter 2008 results showing sales increase of 13 percent to $9.7 billion from $8.5 billion last year. Earnings were up 23 percent compared to last year.
Honeywell Chairman and CEO Dave Cote says the results reflect the company’s strength of operating disciplines, including Honeywell’s Automation and Control Solutions making acquisitions in key adjacent markets.
“We expect double digit earnings growth in the second half,” says Cote. “Our businesses are well positioned with long-term macro trends, such as safety, security, energy efficiency, and energy generation. We believe that our great positions in good industries and continued flawless execution on productivity initiatives will help us deliver consistent and profitable growth even in this tough global economic environment.”
Honeywell is increasing its previously stated 2008 sales guidance to $37.6-$38.2 billion and full-year earnings per share to $3.75-$3.85.
