Club holding Honeywell International reported solid third-quarter results before the opening bell Thursday, a sign of management's competent execution amid a myriad of macroeconomic headwinds. Revenue rose 9% year-over-year organically, to $8.95 billion, shy of analysts' expectations of $8.98 billion, according to estimates compiled by Refinitiv, a result of a stronger U.S. dollar. Adjusted earnings-per-share of $2.25 outpaced the consensus forecast of $2.16 a share.
Operating income climbed 10% year-over-year, to $615 million, ahead of the $607 million consensus estimate. The segment margin grew by 40 basis points year-over-year, to 22.6%. Within the segment, we saw a 6% organic advance in UOP that was compounded by a 6% organic increase in Honeywell Process Solutions and a 33% organic increase in Advanced Materials. Safety and Productivity Solutions Sales fell by 7% year-over-year, to $1.73 billion, below analysts' forecasts of $1.83 billion.
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