Honeywell Posts Higher Sales, Will Spin Off Aerospace Unit Sooner Than Expected

Honeywell International’s HON -1.93%decrease; red down pointing triangle profit fell in the fourth quarter, hurt by charges tied to its settlement earlier this month with private-jet operator Flexjet, but sales climbed on continued demand.

The industrial conglomerate, which is in the process of restructuring and spinning off several businesses, on Thursday posted a profit attributable to the company of $295 million, or 46 cents a share, compared with $1.29 billion, or $1.98 a share, in the same quarter last year.