US Honeywell Q4 chem profit rises 30% on volumes, productivity

24 January 2014 13:24 Source:ICIS News

HOUSTON (ICIS)--Honeywell reported a 30% year-over-year profit increase in its performance materials and technologies segment in the fourth quarter, driven by strong volumes and productivity, the diversified US-based industrial group said on Friday.

The performance materials and technologies segment’s profit for the three months ended 31 December was $272m, up from $210m in the 2012 fourth quarter.

The segment’s sales were up 12% year over year to $1.7bn, driven by an acquisition, increased volumes in Honeywell’s UOP petrochemicals business, and improved production volumes in advanced materials, Honeywell said.

Honeywell’s overall fourth-quarter net income was $947m, up from $251m in the 2012 fourth quarter, on sales of $10.4bn, up 8% year over year.

In addition to performance materials and technologies, Honeywell’s business segments include aerospace, automation and control systems and transportation systems.

By Stefan Baumgarten