Honeywell International reported Friday that it took in $10.1 billion in sales and earnings per share of $1.75 during the third quarter of 2017, which both mark a significant increase from the same period in 2016.
The sales figure was up 3 percent from $9.8 billion a year ago. Earnings per share spiked by 16 percent, from $1.51 to $1.75, from the third quarter of 2016; on an “as reported” basis that typically includes non-recurring items. EPS rose by 9 percent to $1.75 from $1.60 last year.
“This was a standout quarter for us when it comes to organic growth” across the company’s various business segments, said Honeywell President and CEO Darius Adamczyk in the company’s earnings release.
That includes the Aerospace branch, where Honeywell’s stand-alone contracts for the Energy Department are housed. Sales in the Aerospace business rose 2 percent on a year-over-year basis, from $3.6 billion to roughly $3.65 billion.
Management also reaffirmed its full-year earnings per share guidance of $7.05 to $7.10.
Honeywell announced recently that it planned to spin off two separate business lines – its homes and global distribution business and its transportation business – into separate publicly held companies. Honeywell has said the spinoff won’t have any impact on its work in the Energy Department complex.
While management touted the company’s overall strong performance, executives offered little direct discussion of Honeywell’s work for the Department of Energy during Friday’s earning conference call.
Honeywell has been on something of a winning streak with DOE.
Honeywell’s wholly owned Honeywell Federal Manufacturing & Technologies is the longtime manager of the Kansas City National Security Complex, which manufactures non-nuclear parts for nuclear weapons for DOE’s semiautonomous National Nuclear Security Administration. In May, another full Honeywell subsidiary, National Technology and Engineering Solutions of Sandia, began a contract worth $2.6 billion annually over a decade to manage the NNSA’s Sandia National Laboratories, headquartered in New Mexico.
The National Nuclear Security Administration announced in May that a partnership between Honeywell, Jacobs, and Huntington Ingalls would be the next management and operations contractor for the Nevada National Security Site. That contract is worth a maximum of $5 billion over 10 years.
Honeywell is also part of a three-company joint venture, with Bechtel and BWX Technologies, that just last week won a $4.7 billion, 10-year contract for liquid waste management services at DOE’s Savannah River Site in South Carolina.
