Honeywell Q3 Beats Street on Top and Bottom Lines, Raises Guidance

Honeywell posted third quarter earnings of $1.43 a share on revenue of $10.11 billion. Wall Street analysts were looking for $1.41 on sales of $10.05 billion. Last year, the industrial conglomerate earned $1.24 per share on revenue of $9.65 billion. As for details, commercial aftermarket sales increased 2% driven by strong air transport and regional spares growth. Defense & space sales grew 3% as a result of strong international growth and stabilization in U.S. government sales. Transportation systems sales were down 10%, primarily reflecting the friction materials divestiture, but up 4% organically driven by new platform launches and increased commercial vehicle demand in Europe. TheStreet's Gregg Greenberg has details from New York.