Honeywell (NYSE: HON), Morris Plains, New Jersey, reported first-quarter sales of $8.9 billion, down 15% compared to the first quarter of 2018. The company reported 8% organic growth. Profit was up 1.1% to $1.4 million.
The difference between reported and organic sales primarily relates to the spin-offs of the transportation systems business (formerly in aerospace) and the homes and ADI global distribution business (formerly in Honeywell building technologies).
Aerospace segment sales fell 16% with 10% organic growth. Building technologies sales fell 43% with 9% organic growth. Performance materials and technologies sales were up 2% with 5% organic growth, and safety and productivity solutions sales were up 9% with 10% organic growth.
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