A moderately higher than the expected profit, which was assisted in part, in its vital aerospace business, by taller margins is what Honeywell International Inc (HON.N), a multi-class maker of electronic equipment and aircraft parts has posted.
Honeywell has stated, after having increased the size of its ability to scrutinize and spend on deals of different sizes that acquisitions will be its next step as the company raised, for the full-year forecast, the low end for both revenue and profit.
It was emphasized by Tom Szlosek, senior vice president and chief financial officer at Honeywell, that though significant deals being done were not very visible, behind the façade, the company is actively developing portfolios in each of the three departments highlighting the company’s divisions for its products.
Honeywell, a Morristown, New Jersey-based manufacturer estimated that it will be spending $10 billion on acquisitions over a five-year span wherein a financial plan in March is to take precedence over.
The company stated that it now projects sales for 2014 to be about $40.3 billion to $40.4 billion versus its previous projection of $40.2 billion to $40.4 billion.
All in all, net earnings by the manufacturer grew to $1.17 billion in the quarter, translating to $1.47 per share, higher than last year’s $990 million, or $1.24 per share.