Honeywell International Inc. (HON - Get Report) posted stronger-than-expected fourth quarter earnings Friday, and said 2019 profits would continue to expand, easing investor concerns over the impact of a China-led slowdown in global economic growth.

Honeywell said adjusted earnings for the three months ending in December came in at $1.91 per share, up 3.2% from the same period last year and topping the Street forecast of $1.89. Worldwide sales, Honeywell said, fell 10.3% from last year to $9.729 billion, just ahead of the market's consensus of around $9.7 billion. 

Honeywell said it sees full year 2019 earnings in the range of $7.80 to $8.10 per share, firmly ahead of the Refinitiv consensus of $7.88 per share and group revenues in the range of $36 billion to $36.9 billion.

"We have good momentum exiting 2018 after an exciting year. We continue to transform the portfolio, as we demonstrated with the successful spin-offs of our Homes and Transportation Systems businesses," said CEO Darius Adamczyk. "We now have a simpler, more focused portfolio spread across six attractive end markets with approximately 60 percent of the portfolio growing sales at or above 5 percent organically for the full year."

Honeywell shares rose 0.8% to close at $144.71 in Friday trading.

Earnings for the first three months of this year, Honeywell said, will likely come in between $1.80 and $1.85 per share, again ahead of the $1.79 estimate collected by Refinitiv, with organic sales rising between 3% and 5% and a segment margin of between 20.3% and 20.6%. First quarter captial expenditures were pegged at around $800 million, Honeywell said.