Honeywell International Inc. HON reported strong first-quarter 2016 results. Quarterly earnings came in at $1.53 per share, up 9% year over year. The bottom line also surpassed the Zacks Consensus Estimate of $1.50 per share. Honeywell International Inc. (HON) Street EPS & Surprise Percent - Last 5 Quarters | FindTheCompany Operational DetailsFirst-quarter revenues inched up 3% year over year to $9,522 million and exceeded the Zacks Consensus Estimate of $9,376 million. The year-over-year improvement was attributable to strong ACS commercial, residential and Chinese business, sound aerospace trade and increased sales of Fluorine Products and Process Solutions sales in PMT.Total segment profit was $1,720 million as against $1,721 million in the year-ago quarter. Overall segment profit margin deteriorated 60 basis points (bps) year over year to 18.1%.Operating income also increased to 1,695 million from $1,621 million in first-quarter 2015 on the back of disciplined cost management. Operating margin during the quarter came in at 17.8%, up 20 bps.Segment PerformanceAerospace segment sales were $3,705 million in the reported quarter, up 3% year over year. The year-over-year improvement was driven by strong shipments, increased overhaul and repairing activities, new product launches and increased worldwide turbo penetration rate.Automation and Control Solutions segment sales grew 13% year over year to $3,677 million in the reported quarter. The segmental sales increased on a yearly basis due to improving Energy, Safety & Security (‘ESS’), Building Solutions & Distribution (‘BSD’) business.Performance Materials and Technologies segment sales declined 9% year over year to $2,140 million in the reported quarter. Adverse impact of foreign exchange and raw materials pricing in Resins & Chemicals resulted in the downside. Moreover, weaker equipment, catalyst and UOP gas processing sales weighed on the quarterly sales figure.Balance Sheet and Cash FlowCash and cash equivalents as of Mar 31, 2016 were $4,473 million compared with $5,455 million as of Dec, 31, 2015. Long-term debt as of Mar 31, 2016 was $9,700 million compared with $5,554 million as of Dec 31, 2015.Net cash provided by operating activities for three months ended Mar 31, 2016 was $257 million compared with $421 million in the prior-year period. Free cash flow decreased by a massive 75% year over year to $63 million during the quarter.OutlookHoneywell aims to improve its revenues and margins in the upcoming quarters on the back of greater business internationalization, new innovations and product portfolio solidification. Based on favorable business conditions, the company revised its full-year 2016 revenue guidance. The company now expects revenues in the range of $40.3–$40.9 billion as against $39.9–$40.9 billion projected earlier. Full-year adjusted earnings per share guidance are the range of $6.55–$6.70 as against the previous projection of $6.45–$6.70.Honeywell currently has a Zacks Rank #2 (Buy). Stocks that look promising in the industry include Carlisle Companies Incorporated CSL, 3M Company MMM and CLARCOR Inc. CLC. Each of these stocks has the same Zacks Rank as Honeywell.Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report 3M CO (MMM): Free Stock Analysis Report HONEYWELL INTL (HON): Free Stock Analysis Report CLARCOR INC (CLC): Free Stock Analysis Report CARLISLE COS IN (CSL): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research