Honeywell Q1 Profit Up

Industrial conglomerate Honeywell International reported higher quarterly results and raised its earnings per share outlook for the full year, saying growth in U.S. and high-growth markets are more than offsetting softness in Europe.

The maker of products ranging from cockpit electronics to control systems for large buildings, on Friday said net first-quarter earnings rose to $825 million, or $1.04 per share, from $708 million, or 88 cents a share, a year earlier.

Sales increased by 7% to $9.3 billion, above the $9.15 billion average forecast, according to Thomson Reuters I/B/E/S.

Honeywell revised its 2012 earnings per share outlook to a range of $4.35 to $4.55 from $4.25 to $4.50.