UPDATE: Honeywell Posts Rise In Q2 Profit

Honeywell International

reported an increase in its second-quarter profit. Honeywell's quarterly profit surged to $1.02 billion, or $1.28 per share, versus $902 million, or $1.14 per share, in the year-ago period. Its sales climbed 3% to $9.69 billion from $9.44 billion. However, analysts were estimating earnings of $1.21 per share on sales of $9.7 billion. Honeywell now projects full-year sales of $38.9 billion to $39.3 billion, versus its earlier forecast of $38.8 billion to $39.3 billion. It expects earnings of $4.85 to $4.95 per share, versus $4.80 to $4.95 per share. Honeywell shares rose 2.45% to $85.00 in pre-market trading.