Honeywell reports In the Automation and Control Solutions (ACS) segment incorporating its security and automation business, sales were up 9 per cent.
Sales rose 4 per cent organically, compared with the third quarter of 2013. The company’s third quarter sales rose 5 per cent to $US10.1 billion.
According to Honeywell, the positive results are said to be primarily driven by the favourable impact of the Intermec acquisition and strong organic growth across Energy, Safety and Security (ESS), particularly in the Scanning & Mobility, Industrial Safety, Security and Fire business units.
According to a release, ACS segment profit was up 11 per cent and segment margins expanded 40 bps to 15.9 per cent driven by higher volume, commercial excellence, and productivity net of inflation, partially offset by the dilutive impact of the Intermec acquisition.
“Organic sales growth and a double-digit earnings increase highlighted Honeywell’s strong third quarter,” said Honeywell Chairman and CEO Dave Cote.
“The continued integration and maturation of the Honeywell Operating System throughout our global portfolio is helping to drive sales, margin, earnings, and cash flow higher, and plenty of runway remains.
“We are committed to our ongoing seed planting investments to bolster our great positions in good industries and continuous process improvements to mitigate ongoing global macroeconomic uncertainties.”
“Looking ahead to 2015, we’re once again planning for a slow growth macro environment, but expect to continue delivering strong earnings growth,” Cote said.
“We’re confident that Honeywell will continue to outperform now and over the long-term driven by a relentless focus on new products and technologies, continued penetration of high-growth regions, and sustained implementation of our key process initiatives.”
