Honeywell International, Inc., an electronic equipment and aircraft part manufacturer which has been diversified, posted a third-quarter profit, which was better than what they have expected and it partly helped by higher key aerospace business’ higher margins.
This also gave the range of the full-year forecast’s low end a raise for both the revenue and profit. It has also been mentioned that it is searching for acquisitions when it had its evaluation ability bulked up, as well as a boost in the various sizes of its fund deals.
Honeywell’s Chief Financial Officer and Senior Vice President Tom Szlosek, mentioned in some interview, that the potential deals’ pipelines are just as sturdy as they have ever been. He also said that it will only take a while for the stars to begin lining up.
The New-Jersey based manufacturer, the Morristown, also had their financial plans for March laid out that projected that they could be spending 10 billion dollars on acquisitions within five years.
He also added that people might have not seen or felt the engagement in significant deals, but such does not mean that, behind everything, they are not working actively on the portfolio in the three businesses that they are managing at the moment. Szlosek talked about the major product divisions of the company.
There also came the largest increasing its aerospace business’ margins. It reached 20.3 percent during the end of the third quarter, which is September 30, which was only 18.8 percent during the previous year.
This year, Honeywell got the chance to perform well, despite the global economy, which appears really sluggish, primarily because of its concentration on cost control. During the month of July, the said company had its transportation division merged with the aerospace business it managed to take benefit in the said units’ similarities.