Honeywell raises its full-year target because the strength of the aviation industry surpasses profits Reuters

(Reuters)-Honeywell International announced on Friday that its quarterly profit was better than expected and raised its full-year forecast, thanks to the rebound of air travel from the slowdown caused by the pandemic, and sales of its aerospace division improved .

This American industrial group produces everything from aircraft engines to warehouse automation equipment. With the increase in domestic air transportation and the explosive growth of e-commerce, investment in industrial automation has increased, and its profits have increased.

Honeywell (NASDAQ:) said that it now expects full-year sales to be between 34.6 billion US dollars and 35.2 billion US dollars, higher than the previous forecast of 34 billion US dollars to 34.8 billion US dollars.

The company also raised its full-year earnings forecast to US$7.95 to US$8.10 per share, from US$7.75 to US$8 per share.

In the second quarter ended June 30, sales in its largest aerospace division increased by 8.8% to $2.77 billion.

Excluding items, Honeywell earned US$2.02 per share, higher than analysts’ average estimate of US$1.94, while net sales for the quarter increased 17.8% to US$8.81 billion.