Honeywell has reported first quarter earnings of US$9.4bn, up 4%, as well as organic sales rising 3%, excluding defence and space.
“Honeywell had a good start to the year with strong margin expansion driving better than expected earnings,” said Honeywell chairman and CEO, Dave Cote. “We saw 3% organic sales growth ex-Defence and Space, with strong execution across each of the businesses driving earnings above the high-end of our guidance.
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“We remain cautiously optimistic on the macro environment, even with some momentum exiting the quarter in our short-cycle and long-cycle businesses driving organic sales growth acceleration as we progress through the year.
“We remain confident in our outlook and intend to perform better than our peers driven by our diversity of opportunity, relentless seed planting in new products and technologies, continued penetration of high growth regions and growing traction on key process initiatives.”
