Honeywell International Inc. HON is scheduled to report second-quarter 2021 results on Jul 23, before the opening bell.The company delivered an earnings surprise of 6.11%, on average, in the trailing four quarters, beating estimates on all occasions. Honeywell’s first-quarter 2021 adjusted earnings of $1.92 per share surpassed the Zacks Consensus Estimate of $1.80 by 6.67%.Image Source: Zacks Investment ResearchIn the past three months, shares of the company have gained 0.2% compared with the industry’s 0.5% growth.Key Factors at PlayStrength across Honeywell’s defense and space business, supported by stable demand in the United States is likely to have supplemented the top-line performance of its Aerospace segment in the second quarter. Signs of recovery in business aviation aftermarket and growing opportunities within unmanned aerial systems and urban air mobility markets also might have boosted its performance. However, headwinds across its commercial original equipment and commercial aftermarket businesses, owing to challenged original equipment build rates and lower air transport might have affected its performance. The Zacks Consensus Estimate for the Aerospace segment’s revenues is currently pegged at $2,812 million, indicating growth of 6.8% sequentially and 10.6% on a year-over-year basis.The Performance Materials and Technologies segment is likely to have gained from strong advanced materials sales, recovery in the process solutions business and improvement in automation projects. However, persistent weakness in its UOP business and lower smart energy demand are expected to have hurt the segment’s top line. The consensus estimate for Performance Materials and Technology’s second-quarter revenues is pegged at $2,383 million, suggesting increase of 1.6% from the previous quarter’s reported figure and 7.4% year over year.Its Safety and Productivity Solutions segment is anticipated to have performed well in the quarter on strength in its Intelligrated business along with robust demand for personal protective equipment and productivity solutions and services. However, supply constraints are likely to have played a spoilsport. The consensus mark for the Safety and Productivity Solutions segment’s revenues stands at $2,058 million, implying a 2.8% sequential decrease but growth of 33.7% on a year-over-year basis.Solid demand for building products and management systems is likely to have supported the Building Technologies segment in the to-be reported quarter. The consensus estimate for the segment’s revenues stands at $1,367 million, implying an increase of 0.7% sequentially and 16.1% year over year.Honeywell is anticipated to have benefited from its efforts to maximize productivity as well as commercial and operational excellence in the second quarter. Some of the company’s actions including cost management and repositioning actions are likely to have aided it in maintaining a solid margin performance. However, it expects to have incurred repositioning and other charges of $100-$150 million in the second quarter for executing restructuring programs. This is likely to have adversely impacted earnings in the to-be-reported quarter.The consensus estimate for the company’s second-quarter total revenues is currently pegged at $8,531 million, suggesting increase of 14.1% and 0.9% year over year and sequentially, respectively. The consensus estimate for earnings of $1.94 suggests an improvement of 54% and 1% year over year and sequentially, respectively.Earnings WhispersAccording to our quantitative model, a stock needs to have the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or at least 3 (Hold) to increase the odds of an earnings beat.You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.This is the case here as given below:Earnings ESP: Honeywell has an Earnings ESP of +1.16%, as the Most Accurate Estimate is pegged at $1.96, higher than the Zacks Consensus Estimate of $1.94.Honeywell International Inc. Price and EPS Surprise Honeywell International Inc. price-eps-surprise | Honeywell International Inc. QuoteZacks Rank: The company carries a Zacks Rank #3.Other Key PicksHere are some other companies that you may want to consider as our model shows that these too have the right combination of elements to post an earnings beat this quarter:3M Company MMM has an Earnings ESP of +1.11% and a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.ITT Inc. ITT has an Earnings ESP of +1.67% and Zacks Rank #2.Chart Industries, Inc. GTLS has an Earnings ESP of +2.56% and a Zacks Rank of 3. Breakout Biotech Stocks with Triple-Digit Profit Potential The biotech sector is projected to surge beyond $775 billion by 2024 as scientists develop treatments for thousands of diseases. They’re also finding ways to edit the human genome to literally erase our vulnerability to these diseases. Zacks has just released Century of Biology: 7 Biotech Stocks to Buy Right Now to help investors profit from 7 stocks poised for outperformance. 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