Honeywell’s Q1 net income up 8.4% y/y to USD1.43 billion

Updates full-year sales outlook

Honeywell has reported 8.4% year-over-year (y/y) increase in net income to USD1.43 billion for the first quarter ended 31 March 2018, the US-based diversified supplier said in a press release on 20 April. The company recorded higher growth in net income as net sales improved 9% y/y to USD10.39 billion, thanks to organic sales growth of 5% y/y. Honeywell’s product sales increased 9.2% y/y to USD8.23 billion, while service sales were up 10.6% y/y to USD2.16 billion. Higher sales helped the company record 11.9% y/y increase in operating income to USD1.72 billion, resulting in 40 basis points (bps) growth in operating income margin to 16.6%. The company also recorded 40 basis points (bps) growth in segment margin to 19.2%.