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The company's quarterly results were driven by strength across
its four major divisions, including aerospace, its biggest
business by revenue.
Sales in the unit, which makes engines for aircraft made by
Bombardier Inc <BBDb.TO>, Textron Inc <TXT.N> and General
Dynamics Corp <GD.N>, rose 6.4 percent to $3.90 billion in the
fourth quarter ended Dec. 31.
Much of the growth in the aerospace business was driven by its
commercial aviation aftermarket division as a rise in travel
demand boosted sales of spare parts and services to the airline
industry.
Honeywell is also benefiting from increased demand from oil and
gas customers in the wake of stabilizing oil prices.
Sales in Honeywell's performance materials and technologies
unit, which makes catalysts and adsorbents used in petroleum
refining, rose 12.4 percent to $2.85 billion in the quarter.
Shares of the company rose 1 percent to $163.40 in premarket
trading.
However, a $3.8 billion tax provision pushed the company to book
a net loss of $2.41 billion, or $3.18 per share, in the latest
quarter. nPn6VC0tta]
Excluding the tax provision, Honeywell earned $1.85 per share,
compared with analysts' expectations of $1.84, according to
Thomson Reuters I/B/E/S.
Revenue rose 8.6 percent to $10.84 billion, topping estimates of
$10.75 billion.
Honeywell raised its 2018 earnings forecast range to $7.75 to
$8.00 per share, compared with $7.55 to $7.80 per share
estimated previously.
Up to Thursday's close, Honeywell's stock had risen 37.3 percent
in the past 12 months, far outperforming a 23.5 percent increase
in the S&P 500 index <.SPX>
(Reporting by Ankit Ajmera in Bengaluru; Editing by Anil D'Silva)
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