Total Honeywell (NYSE:HON) sales rose 6% Y/Y to 10.3B, bringing up operating income margin 110 bps to 15.4% from 14.3%.
Cash flow from operations climbed 7% Y/Y to 1.3B, with a free cash flow of $1.1B rising 5% Y/Y.
The company lowered its full-year sales guidance to $40.2B-$40.4B from $40.3-$40.7B, a drop of 3-4%, but increased its EPS expectations 10-12% to a full-year target of $5.45-$5.55.
Segment performance: Aerospace sales of $3B were flat Y/Y driven by 1% commercial sales growth and offset by a 1% decline in defense & space.
Automation and control solution sales were up 10% reported, 3% organic Y/Y, propelled by the favorable impact of acquisitions net of divestitures and growth in energy, safety, and security.
Performance materials and technologies sales rose 6% Y/Y due to UOP catalyst and gas processing growth and higher sales in advanced materials.
Transportation systems sales increased 8% reported, 4% organic Y/Y pushed by continued growth from new platform launches, higher global automotive production, and increased commercial vehicle demand in Europe.