Honeywell, the parent company of several Department of Energy site-management contractors, posted an annual increase in sales and profits in the second quarter, after accounting for businesses the company spun off in the last year.
Net income rose to $1.5 billion from $1.3 billion in the second quarter of 2018, while sales fell 15% to some $9.2 billion from almost $11 billion a year ago, Honeywell reported last week. However, excluding the 2018 results of the now-spun-off, Transportation Systems and the Homes and ADI Global Distribution businesses, company-wide sales rose 5%.
Honeywell is the owner or partner in contractors that manage four Department of Energy facilities:
- Honeywell Federal Manufacturing & Technologies, a Honeywell subsidiary at the Kansas City National Security Campus in Missouri ($10 billion over 10 years, with options);
- National Technology and Engineering Solutions of Sandia, a Honeywell subsidiary at the Sandia National Laboratories in New Mexico ($2.6 billion over 10 years, with options);
- Mission Support and Test Services, a Honeywell-majority team with Jacobs and Huntington Ingalls at the Nevada National Security Site ($5 billion over 10 years, with options); and
- Savannah River Nuclear Solutions, a Honeywell-minority team with Fluor and Huntington Ingalls at the Savannah River Site in South Carolina ($10.5 billion over 11 years, with options). The DOE Environmental Management office owns this contract, and last week issued a $1.5 billion extension that will keep SRNS on the job through Sept. 30, 2020. Two one-year options are possible after that.
