Honeywell said Friday its second-quarter 2016 sales totaled $10 billion, a 2 percent increase from the same quarter last year. Earnings per share also increased by 10 percent year over year, leading the company to raise its EPS guidance for 2016 by 8-10 percent, to $6.60-$6.70.
Honeywell CEO Dave Cote noted during the company’s earnings call Friday that he will be replaced by Chief Operating Officer Darius Adamczyk at the end of next March.
Honeywell also announced the realignment of its Automation and Control Solutions business segment into two new divisions: Home and Building Technologies and Safety and Productivity Solutions.
“We’ve demonstrated that we can deliver on the high end of our earnings commitment,” Chief Financial Officer Thomas Szlosek said during the call.
Honeywell is one of the partners in Savannah River Nuclear Solutions, management and operations contractor for the Department of Energy’s Savannah River Site in South Carolina. A company subsidiary, Honeywell Federal Manufacturing & Technologies, manages the National Nuclear Security Administration’s National Security Campus in Kansas City, Mo., which produces non-nuclear components used in nuclear weapons. The plant’s budget is approximately $900 million per year.
Honeywell management did not offer information on either operation during the Friday call.
