Engineering Giant, Honeywell, Reports Robust Growth in Q1 2024
Q1 Sales & Earnings Surge
At $9.1 billion, total sales grew by 3% in the first three months of fiscal 2024. Aerospace Technologies segment sales surged by a notable 18%, driving the overall top-line growth.
Earnings Performance
Adjusted first-quarter earnings increased by 9% YoY, reaching $2.25 per share. Unadjusted profit rose to $1.46 billion or $2.23 per share from $1.39 billion or $2.07 per share in the same period of 2023.
CEO's Insights
CEO Vimal Kapur highlights the robust 6% year over year growth in backlog to $32.0 billion. Expectations of broader market participation remain high as the company observes signs of recovery in various sectors.
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