Honeywell sales, profits slide in Q2

CHARLOTTE, N.C. — Honeywell reported its Q2 sales dropped by 19 percent, hit by the pandemic and oil price movements. Sales totalled $7.48 billion, down from $9.24 billion last year but ahead of analyst estimates of $7.29 billion. Net income came to $1.08 billion, or $1.53 a share, compared with $1.54 billion ($2.10), in Q2 of 2019 and coming short of the forecast $1.20 per share. Honeywell Building Technologies, which includes the conglomerate’s lighting, heating and electrical portfolios, saw sales for the quarter decline by 17 percent on an organic basis.