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| Honeywell Aerospace offices. Photo: Honeywell |
[Avionics Today 10-19-2015] Honeywell has released its third quarter 2015 earnings with a 5 percent uptick in segment profit. The report showed sales for the third quarter were up 2 percent on a core organic basis, and were down 2 percent, reportedly driven by the unfavorable impact of foreign currency and the sale of its Friction Materials business unit to Federal Mogul Corporation for approximately $155 million.
Commercial Original Equipment (OE) sales were up 4 percent on a core organic basis driven by strong Business and General Aviation (BGA) engine shipments. Commercial Aftermarket sales were up 3 percent driven by continued growth in repair and overhaul activities, partially offset by a decline in Retrofit, Modifications, and Upgrades(RMU) sales in BGA.
Defense & Space sales increased 2 percent on a core organic basis driven by strong international growth, partially offset by lower sales to the U.S. government. Transportation Systems sales were up 1 percent driven by new platform launches and higher gas turbo penetration on passenger vehicles, partially offset by lower commercial vehicle production.