Honeywell International Inc. (NASDAQ: HON) has proved its capacity to continue business even in challenging economic situations throughout the last quarter. Because of the strength of its end markets, superior operational performance, and investment in long-term development strategies, the company has remained resilient.
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The commercial aviation, defense, energy, and non-residential industries account for about 65 percent of Honeywell International’s sales. The general state of these markets is rated as positive, allowing them to weather an anticipated recession, according to management. According to Honeywell International, these industries will have high single-digit growth in the next months.
Honeywell International’s full-year growth estimates in the aerospace and military industries have been reduced due to ongoing supply chain difficulties. Simultaneously, commercial aviation aftersales climbed by 19% in the second quarter, while commercial aviation equipment sales jumped by 22%.
Honeywell Building’s non-residential solutions (which assist commercial building owners in improving efficiency, creating green buildings, and controlling carbon emissions) were extremely popular this year, with orders in the double digits.
The high-tech materials and technology industry also performed well, with advanced materials sales increasing by 21%. Catalysts and absorbents for the oil refining and chemical sectors were the only poor areas in the high-tech materials group, with sales falling 1%.
Security and Productivity Solutions, another Honeywell International unit, experienced substantial growth in two of its four companies (Productivity Solutions and Services grew 19 percent and Advanced Sensor Technologies grew 25 percent ).
However, this was insufficient to overcome an 18% decrease in security and retail (due to lower sales of COVID-19-related personal protective equipment) and a 25% decline in warehouse automation sales.
Overall, Honeywell International’s organic sales increased by 4% in the third quarter, and management now predicts growth of 5% to 7% for the whole year, up from 4% to 7% before.
Honeywell International Inc. (NASDAQ: HON) stock is up 4.27 percent in the last week but down -2.81 percent in the previous quarter. Going back further, the stock’s price has been down -6.74 percent in the previous six months but is down -8.16 percent year to date.
