"Honeywell's performance in the second quarter and first half of 2013 remained strong," said Mr. Dave Cote, Chairman and Chief Executive Officer of Honeywell. Outperformed the major markets in which they were located. Benefiting from a favorable market environment, Honeywell's long-term businesses, including Commercial Aviation, Honeywell's Process Control and HoneywellUOP businesses, continued to grow, winning new contracts and maintaining approximately $15.5 billion in pending orders. We will also continue to adhere to our seeding plan and implement comprehensive cost-saving items across business units to remain agile in the face of uncertain global economic growth. Based on our first-half performance and our expectation that the company will moderately expand its organic growth and further improve margins in the second half of the year, we have raised our full-year 2013 guidance by $0.05. ”
Earnings per share (EPS) for the first quarter of 2013 were taxed at an effective rate of 23.1%, compared to 26% in the year-ago quarter. According to the effective tax rate in 2012 or the expected annual tax rate of 26.5% before adjusting pensions according to market value in 2013, the earnings per share growth should be 8%.
Among them, the sales of the automation control system group in the second quarter of 2013 were US$4 billion, an increase of 3% year-on-year, and the division's profit was US$58.5 million, an increase of 11%.
Compared to the second quarter of 2012, both reported and endogenous sales growth increased by 3%. Sales growth in the Energy, Safety and Security business was mainly driven by new product launches, increased demand for services and software, and a recovery in the residential end market, but was partially offset by lower growth in the non-residential end market.
Segment profit increased by 11% and segment margin increased by 110 basis points to 14.4%, mainly due to excellent commercial optimization and increased production efficiency after deducting inflation.