HONeywell posts earnings, exceeds forecast #pauto #manufacturing #mfg
"Big Honeywell" (HON.N) the parent of Honeywell Process Solutions posted earnings today Reuters reported.
"Diversified U.S. manufacturer Honeywell International Inc (HON.N) boosted its full-year earnings target after reporting a first-quarter profit that topped Wall Street's expectations.
"Revenue rose 2.7 percent as a recovery in the global auto market sparked demand for turbochargers and a pickup in global industrial production drove up sales of control and measurement equipment for factories.
"There is clear evidence things are getting better," Dave Cote, chief executive officer of the world's largest maker of cockpit electronics, said on a conference call with analysts. "We're seeing order growth across all of our businesses."
Since HON doesn't break out HPS business in their financials, it isn't clear how much of this growth is due to HPS, but the comment from Mr. Cote about sales of control and measurement equipment for factories may indicate favorable economic news from HPS as well.