Honeywell raises full-year targets after profit beats on aerospace strength

Honeywell International reported a better-than-expected quarterly profit and raised its full-year forecasts on Friday, helped by a rebound in demand in its main businesses that serve the aerospace and the energy industries.

The U.S. industrial conglomerate, which makes everything from aircraft engines to catalysts used in gasoline production, has seen its bottomline get a boost from rising domestic air traffic and higher demand for fuel as more people have started traveling following COVID-19 vaccinations.

“We are especially pleased to see a turnaround in several of our key end markets that were hardest hit by the pandemic, with commercial aerospace aftermarket and the UOP (energy) business returning to growth in the quarter,” Chief Executive Officer Darius Adamczyk said.