FILE PHOTO: A logo of Honeywell is pictured on their booth during the European Business Aviation Convention & Exhibition (EBACE) in Geneva, Switzerland, May 22, 2017. REUTERS/Denis Balibouse
(Reuters) – Honeywell International Inc on Thursday reported a better-than-expected quarterly profit and raised it full-year financial forecast as a boom in air travel drove demand for its aircraft parts used in the commercial airline industry.
The company now expects 2019 sales of $36.5 billion and $37.2 billion, up from $36.0 billion to $36.9 billion. Profit forecast was raised to a range of $7.90 to $8.15 from a range of $7.80 to $8.10 per share.
Honeywell earned $1.92 per share in the first quarter, beating analysts’ average estimate of $1.83 per share, according to IBES data from Refinitv.
Reporting by Ankit Ajmera in Bengaluru