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Honeywell International Q1 profit climbs 18.8% YOY

Honeywell International Inc. said its normalized net income for the first quarter was $1.19 per share, compared with the S&P Capital IQ consensus estimate of $1.39 per share.

EPS climbed 19.2% year over year from $1.00.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $947.5 million, a gain of 18.8% from $797.3 million in the prior-year period.

The normalized profit margin climbed to 10.3% from 8.2% in the year-earlier period.

Total revenue fell on an annual basis to $9.21 billion from $9.68 billion, and total operating expenses decreased 8.6% from the prior-year period to $7.59 billion from $8.31 billion.

Reported net income grew 9.8% on an annual basis to $1.12 billion, or $1.41 per share, from $1.02 billion, or $1.28 per share.