Diversified technology and manufacturing group Honeywell reported a quarterly profit in line with consensus expectations Monday, saying it was anticipating continued tough economic conditions.
Honeywell earned 60 cents a share in the second quarter. Sales were $7.6 billion.
Quarterly aerospace sales were down 17 percent, and the company said in a statement that economic conditions remain challenging.
Honeywell's guidance for full-year earnings per share was $2.85, at the low end of its previously stated earnings range, but still a bit higher than $2.83 expected by analysts surveyed by Reuters.
"I suspect that we are seeing probably the worst quarter that we are going to see," Howard Rubel, an aerospace and transportation analyst at Jefferies & Co, told CNBC's "Squawk Box." (See his full interview here)