Honeywell Falls 5% in First Half Revenue and Net Profit Increases 5%

Honeywell , a component supplier, recently announced its second-quarter earnings report for the company. In the previous quarter, the companyâ€™s operating income declined, but net profit maintained a growth trend.

Honeywell Falls 5% in First Half Revenue and Net Profit Increases 5%

In the second quarter of this year, Honeywell's operating income was $9.775 billion, compared to $102.53 billion in the same period of last year, which was a 4.7% year-on-year decline. In the first half of the year, the companyâ€™s cumulative revenue was US$18.988 billion, a decrease of 5.0% from US$199.32 billion in the same period of last year.

However, in the previous quarter, Honeywellâ€™s net profit still increased, from US$1.767 billion in the same period of last year to US$1.853 billion, up 4.9% year-on-year. In the first half of the year, the companyâ€™s cumulative net profit reached US$3.624 billion, compared with 34.14 in the same period of last year. Billion US dollars, an increase of 6.2% over the same period last year.

Among its various divisions, revenue from the aerospace Aerospace division declined 4.7% year-on-year to US$3.827 billion, and net profit still increased by 2.4% from the same period last year to US$7.77 billion.

The Automation and Control Solutions divisionâ€™s operating income for the quarter was US$353 million, a year-on-year decline of 1.5%; net profit was US$567 million, which was still a year-on-year increase of 6.4%.

Performance Materials and Technologiesâ€™ second-quarter operating income was US$2.395 billion, down 9.1% year-on-year. Net profit was US$509 million, an increase of 7.2% over the same period of last year.

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