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Diversified technology and manufacturing company Honeywell International Inc. (NYSE:HON) today reported better-than-expected second-quarter earnings, driven by robust U.S. demand for its building-control systems and specialty systems.
The Morristown, New Jersey-based company reported a profit of $905 million, or $1.14 per share for the second quarter, compared to $810 million, or $1.02 per share reported in the second quarter of 2011. The consensus forecast was of $1.11 per share.
HON’s revenue for the second quarter was $9.44 billion, up 3.8% over the same period in 2011. Second-revenue fell short of consensus forecast of $9.56 billion.
Honeywell CEO David Cote cautioned that the company faces an increasingly uncertain global economic environment. HON cut its full-year sales outlook to a range of $37.8 billion to $38.4 billion. However, the company expects margins to improve, which would offset lower-than-previously forecast sales. As a result, Honeywell raised the low-end of its profit guidance range for 2012 by $0.05 per share. The company now expects earnings for the full year to be between $4.40 per share and $4.55 per share.
HON’s better-than-expected second-quarter earnings pushed the company’s stock higher in pre-market trading today. At last check, HON was up 3.47% in pre-market trading.
