BAKU, Azerbaijan, July 29. Honeywell announced its second-quarter results, showcasing a 5 percent year-over-year increase in sales on a reported basis and a 4 percent increase on an organic basis, Trend reports via the company.
The performance was driven by diverse outcomes across its business segments.
Sales in Aerospace Technologies soared 16 percent year-over-year on an organic basis, marking the eighth consecutive quarter of double-digit organic growth. This surge was fueled by robust demand in both commercial aviation and defense and space sectors. Notably, commercial aviation saw a 17 percent rise in aftermarket sales, propelled by increasing global flight activity.
The Industrial Automation segment experienced an 8 percent year-over-year decline in sales on an organic basis, primarily due to volume softness in warehouse and workflow solutions.
Sales in Building Automation grew by 1 percent year-over-year on an organic basis and increased 10 percent sequentially, benefiting from the acquisition of an access solutions business.
Sales in the Energy and Sustainability Solutions (ESS) segment increased by 3 percent year-over-year on an organic basis. Advanced materials led the growth with an 8 percent increase, driven by continued strength in fluorine products. However, UOP sales declined by 4 percent, reflecting challenging year-over-year comparisons from large gas processing equipment projects, partially mitigated by growth in refining catalysts and aftermarket services. The segment margin expanded by 200 basis points to 25.2 percent, primarily due to productivity actions.
Follow the author on X: @Lyaman_Zeyn
