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Honeywell performance material unit posts lower earnings

1:49 PM MDT | April 21, 2014 | Lindsay Frost

Honeywell today reported a fall in profit in its performance materials segment. Profit was down 3% year-on-year (YOY), to $374 million and driven by unfavorable petrochemical catalyst shipment mix versus the prior year, prices, and raw headwinds in the fluorine products and resins and chemicals division. Sales in the segment were up 2% YOY, to $1.7 billion and driven by increased UOP catalyst and gas processing volumes as well as higher volumes in advanced materials, partially offset by lower equipment, licensing, and service sales. Sales were also affected by...

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