Honeywell International Inc. said Wednesday its first-quarter earnings jumped 22 percent, boosted by a stronger performance in its aerospace and automation and control businesses.
The diversified manufacturer said income increased to $436 million, or 52 cents per share, from $358 million, or 42 cents per share, a year ago.
Sales grew 12 percent to $7.24 billion from $6.45 billion in the year-earlier period on growth across most segments, including a 5 percent gain in aerospace and a 19 percent rise in automation and control solutions. Sales in Honeywell's smaller specialty materials division increased 44 percent year over year due to acquisitions.
The results topped Wall Street expectations. Analysts had forecast a profit of 49 cents per share and sales of $7.18 billion, according to a Thomson Financial poll.