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Honeywell posts gains despite lower UOP results

1:46 PM MDT | July 19, 2013 | Rebecca Coons

Honeywell’s performance materials and technologies (PMT) unit today reported segment profit of $320 million for its fiscal second quarter, ended 30 June, down 9% year-on-year (YOY). Reported sales increased 9%, to $1.5 billion, but revenue was flat organically. Honeywell says lower PMT profits were due primarily to lower licensing sales for its UOP catalysts business and lower advanced materials volumes. Higher sales were due to higher UOP petrochemical catalyst shipments and equipment sales. Plus, the favorable impact of the Thomas Russell...

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