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Honeywell profit falls 30% as virus hits aerospace sales

Credit: REUTERS/DENIS BALIBOUSE

Diversified U.S. manufacturer Honeywell International Inc on Friday reported a 30% slump in quarterly profit, hit by a sharp fall in demand for aircraft spare parts as airlines park or retire thousands of planes due to the COVID-19 pandemic.

July 24 (Reuters) - Diversified U.S. manufacturer Honeywell International Inc on Friday reported a 30% slump in quarterly profit, hit by a sharp fall in demand for aircraft spare parts as airlines park or retire thousands of planes due to the COVID-19 pandemic.

Net income attributable to Honeywell fell to $1.08 billion, or $1.53 per share, in the second quarter ended June 30, from $1.54 billion, or $2.10 per share, a year earlier.

Revenue for the company, which makes parts for planes made by Boeing Co and Airbus SE , fell about 19% to $7.48 billion. (Reporting by Ankit Ajmera in Bengaluru; Editing by Sriraj Kalluvila) ((ankit.ajmera@thomsonreuters.com; within U.S. +1 646 223 8780, outside U.S. +91 80 6182 2596;)) Keywords: HONEYWELL INTL RESULTS/ (URGENT)

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