Charlotte, North Carolina — Honeywell, the diversified conglomerate whose portfolio includes blowing agents, generated $9.1bn in sales in the third quarter of 2019. This is 16% lower than the same period in 2018.
Gross profit across the business fell by 8% to $2.1bn in the third quarter of 2018. The company divested several businesses between the two periods.
'Overall, we had a strong third quarter, which was a continuation of very strong performance year-to-date,' said CEO Darius Adamczyk.
The company's performance materials and technologies business is where it accounts for blowing agents. Here, sales rose by 1% between the third quarter of 2018 and 2019. They reached $2.67 bn in the third quarter of 2019.
Gross profit in the division increased by 4% to $582m in the third quarter of 2019. This compares with $560m in the 2018 period.
The numbers would have been higher, Honeywell said, but unauthorised imports of hydrofluorocarbons (HFCs) into Europe hit performance in the advanced materials business.
