Honeywell beats profit estimates on aviation boost

(Reuters) - Honeywell International Inc on Thursday posted a better-than-expected quarterly profit, helped by strong performance in its aviation unit.

Sales at the company's aerospace business rose 18% on an organic basis in the third quarter.

On an adjusted basis, profit was $2.27 per share, compared with expectations of $2.23.

The company forecasts full-year adjusted profit per share of $9.10 to $9.20, compared with prior guidance of $9.05 to $9.25.

Industrial giant 3M Co and aerospace peer RTX raised their annual profit forecasts earlier this week.

Charlotte, North Carolina-based Honeywell tightened its annual sales forecast range. It now expects sales of $36.8 billion to $37.1 billion, from $36.7 billion to $37.3 billion.

In the third quarter, the company's sales rose 3% to $9.21 billion, compared with analysts' estimates of $9.23 billion, according to LSEG data.

(Reporting by Anandita Mehrotra in Bengaluru; Editing by Sriraj Kalluvila)