Honeywell Q2 chemical segment profit rises 25% to $350m

18 July 2012 13:35  [Source: ICIS news]

HOUSTON (ICIS)--Honeywell’s second-quarter profit in its performance materials and technologies segment rose 25% year on year to $350m (€284m), mainly because of higher revenues from the licensing of petrochemical technologies, the US-based diversified industrial group said on Wednesday.

Segment sales for the three months ended 30 June were up 10% year on year to $1.55bn, driven by licensing revenues of Honeywell’s UOP petrochemicals technology unit, strong resins and chemicals volumes, and the acquisition of a phenol plant, the company said.

The segment margin rose to a record 22.6%, from 20.0% in the 2011 second quarter.

In addition to the UOP business, the segment includes a range of chemical products and intermediates, such as ammonium nitrate, caprolactam, nylon 6, advanced fibres and refrigerants, among others.

Honeywell is focused on aerospace, automation and control, transportation systems, and performance materials and technologies.

The company’s overall second-quarter net income rose 11% year on year to $902m, with earnings per share from continuing operations up 14% to $1.14. Second-quarter sales were up 4% to $9.44bn.

($1 = €0.81)

By: Stefan Baumgarten
+1 713 525 2653

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