Honeywell Aerospace, the division of that diversified contractor with major contracts throughout the Department of Energy’s nuclear weapons complex, saw sales and profits rise by about 10 percent in the first quarter of 2018.
Excluding costs related mostly related to foreign currency transactions, quarterly revenue for the Aerospace segment — which include the company’s work for DOE’s National Nuclear Security Administration (NNSA) and Office of Environmental Management — jumped 8 percent year over year to just under $4 billion, the company said Friday.
Segment profits in the 2018 quarter rose 12 percent to a little more than $890 million, Honeywell said in an earnings press release.
The Aerospace segment houses non-DOE work, including the company’s Pentagon contracts. Friday’s earnings presser did not single out the Energy Department part of the portfolio for either good or bad performance in the quarter.
Company-wide, quarterly net income rose about 9 percent to almost $1.5 billion as revenue increased by roughly 9.5 percent year over year to a little over $10 billion, Honeywell said.
Honeywell has two wholly owned subsidiaries managing major sites for the NNSA: Honeywell Federal Manufacturing & Technologies, which manages design and manufacture of non-nuclear warhead components at the Kansas City National Security Complex; and National Technology and Engineering Solutions of Sandia, which manages the NNSA’s weapon engineering hub, the Sandia National Laboratories in New Mexico and California.
Honeywell is also part of Mission Support and Test Services: the management and operations contractor for the Nevada National Security Site. Among other missions, the site conducts chemical and non-nuclear explosives tests to ensure U.S. warheads meet their specified destructive capabilities.
For DOE’s Environmental Management office, Honeywell is part of the Savannah River EcoManagement joint venture — along with Bechtel and BWX Technologies — that was slated to take over liquid waste cleanup at the Savannah River Site in Aiken, S.C., this year. However, one of two losing teams in the liquid waste competition — a unit comprising AECOM and CH2M — successfully protested the award and forced a review of all bids that is expected to conclude this calendar year.
