By Will Feuer


Honeywell International Inc.'s first-quarter sales rose more than expected as the recovery of air travel globally bolstered the aerospace division.

The industrial company posted a profit of $1.39 billion, or $2.07 a share, compared with $1.13 billion, or $1.64 a share, in the same period a year earlier. Analysts surveyed by FactSet were expecting earnings of $1.93 a share.

Sales rose 6% to $8.86 billion, with growth across three of the company's four business segments, led by its aerospace segment. Analysts surveyed by FactSet were expecting sales of $8.51 billion.

The backlog also grew 6%, to $30.3 billion.

"We are well-positioned to continue outperforming despite an uncertain macroeconomic environment," Chief Executive Darius Adamczyk said. "Our continued focus on commercial excellence and productivity enabled us to remain ahead of the inflation."

The aerospace business posted sales growth of 13%, while sales rose 12% in the performance materials and technologies unit. Sales climbed 4% in the building technologies unit and fell 13% in the safety and productivity solutions business.


Write to Will Feuer at Will.Feuer@wsj.com


(END) Dow Jones Newswires

04-27-23 0636ET