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Honeywell International Q3 profit climbs 9.6% YOY

Honeywell International Inc. said its normalized net income for the third quarter was $1.34 per share, compared with the S&P Capital IQ consensus estimate of $1.55 per share.

EPS increased 10.4% year over year from $1.21.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.05 billion, an increase of 9.6% from $962.5 million in the year-earlier period.

The normalized profit margin climbed to 11.0% from 9.5% in the year-earlier period.

Total revenue fell 4.9% year over year to $9.61 billion from $10.11 billion, and total operating expenses fell 7.3% from the prior-year period to $7.86 billion from $8.47 billion.

Reported net income rose 8.1% from the prior-year period to $1.26 billion, or $1.60 per share, from $1.17 billion, or $1.47 per share.