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Acquisitions drive Q2 Honeywell sales 2%
27
Jul '16
For the second quarter ended June 30, 2016, sales at Honeywell were up 2 per cent year on year to $9,991 million, mainly due to acquisitions, but core organic sales were down 2 per cent.

In the reporting quarter, there was a segment margin improvement of 10bps, which stood at 18.5 per cent as against 18.4 per cent in the prior year's second quarter.

However, operating income margin expanded 80bps to 18.4 per cent in the three months ended June 30, 2016, up from 17.6 per cent in the comparable quarter of 2015.

Earnings per share too grew 10 per cent in the quarter under review to $1.66 per share as against $1.51 per share in the earlier year's same period.

Cash flow from operations in the reporting also rose from $1,408 million from a year ago quarter to $1,544 million, also up 10 per cent.

The company also raised the low-end EPS guidance range for the full year to $6.60 - $6.70, which is higher between 8 and 10 per cent at the low end.

During the quarter, the company also announced two new reporting segments; Home and Building Technologies; and Safety and Productivity Solutions, to offer greater customer and growth focus. (AR)

Fibre2fashion News Desk - India

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