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Honeywell International Q2 profit climbs 9.3% YOY

Honeywell International Inc. said its normalized net income for the second quarter amounted to $1.27 per share, compared with the S&P Capital IQ consensus estimate of $1.49 per share.

EPS rose 9.6% year over year from $1.16.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $1.01 billion, an increase of 9.3% from $924.9 million in the year-earlier period.

The normalized profit margin increased to 10.3% from 9.0% in the year-earlier period.

Total revenue fell year over year to $9.78 billion from $10.25 billion, and total operating expenses declined 7.1% from the prior-year period to $8.06 billion from $8.67 billion.

Reported net income increased 9.1% from the prior-year period to $1.20 billion, or $1.51 per share, from $1.10 billion, or $1.38 per share.