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Honeywell also raised the low end of its 2017 earnings forecast
by 5 cents to $6.90-$7.10 per share.
Analysts on average had were expecting 2017 earnings of $7.03
per share, according to Thomson Reuters I/B/E/S.
Sales in Honeywell's aerospace business, its biggest, fell 4.3
percent to $3.55 billion, but were above the 5-7 percent decline
forecast by the company.
Honeywell said sales its aerospace unit, which makes engines for
aircraft made by Bombardier Inc <BBDb.TO>, Textron Inc <TXT.N>
and General Dynamics Corp <GD.N> among others, were partly
helped by growth in its commercial after-sales business.
Sales in Honeywell's performance materials and technologies
unit, which makes catalysts and adsorbents used for petroleum
refining, dropped about 9 percent to $2.07 billion, but were
above the 10-12 decline forecast by the company.
Net income attributable to Honeywell increased to $1.33 billion,
or $1.71 per share, in the first quarter ended March 31, from
$1.22 billion, or $1.56 per share, a year earlier.
Excluding items, Honeywell earned $1.66 per share.
However, revenue fell to $9.49 billion from $9.52 billion.
Analysts on average had expected first-quarter earnings of $1.62
per share, and revenue of $9.33 billion.
(Reporting by Ankit Ajmera in Bengaluru; Editing by Martina
D'Couto)
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