Honeywell 2Q profit climbs 7.6 percent

Written By THE ASSOCIATED PRESS Posted: 07/18/2014, 02:34am

MORRISTOWN, N.J. — Honeywell International Inc. on Friday reported profit that climbed by 7.6 percent in its second quarter, and topped analysts’ expectations.

The Morristown, New Jersey-based company said profit increased to $1.1 billion, or $1.38 per share, from $1.02 billion, or $1.28 per share, in the same quarter a year earlier. The average estimate of analysts surveyed by Zacks Investment Research was for profit of $1.36 per share.

The company said revenue climbed 5.8 percent to $10.25 billion from $9.69 billion in the same quarter a year ago, and beat Wall Street forecasts. Analysts expected $10.17 billion, according to Zacks.

Honeywell shares have increased $3.80, or 4.2 percent, to $95.17 since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5.9 percent. The stock has climbed $12.20, or 15 percent, in the last 12 months.

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