Honeywell International Inc. HON has reported better-than-expected second-quarter 2021 results, wherein both earnings and revenues surpassed estimates.Earnings & RevenuesAdjusted earnings were $2.02 per share, surpassing the Zacks Consensus Estimate of $1.94. The bottom line surged 60.3% year over year.Honeywell’s second-quarter revenues were $8,808 million, outpacing the consensus estimate of $8,605 million. The top line increased 17.8% year over year on a reported basis and 15% on an organic basis. The rise was driven by strength in personal protective equipment and productivity solutions and services businesses along with strong demand for building products and process solutions products, as well as solid recovery in business and general aviation aftermarket demand.Segmental BreakupComing to operating segments, Aerospace’s quarterly revenues were $2,766 million, up 9% year over year. Honeywell Building Technologies’ revenues increased 20% to $1,407 million. Performance Materials and Technologies’ revenues totaled $2,552 million, up 15%, while that for Safety and Productivity Solutions increased 35% to $2,083 million.Costs/MarginsThe company’s total cost of sales in the reported quarter was $6,003 million, up 13.8% year over year. Selling, general and administrative expenses were $1,207 million, up 2%. Interest expenses and other financial charges were $83 million compared with $90 million a year ago.Operating income in the second quarter were $1,598 million, up 57% on a year-over-year basis. Operating income margin was 18.1%, up 450 basis points.Balance Sheet/Cash FlowExiting the second quarter of 2021, Honeywell had cash and cash equivalents of $11,427 million compared with $11,718 million in the previous quarter. Long-term debt was $16,138 million, higher than $16,124 million recorded at the end of the previous quarter.In the first six months of 2021, the company generated $2,256 million in cash from operating activities compared with $2,419 million in the year-ago period. In the first half of 2021, capital expenditure was $406 million compared with $366 million incurred a year ago.Free cash flow in the quarter was $1,468 million, up 17% year over year.OutlookHoneywell updated guidance for full-year 2021. For the year, the company anticipates earnings to be in the range of $7.95 to $8.10 per share, higher than $7.75 to $8.00 guided earlier. It anticipates revenues to be between $34.6 billion and $35.2 billion, with organic revenues expected to be up 4-6%. It previously anticipated revenues to lie in the range of $34 billion and $34.8 billion.For 2021, it expects operating cash flow in the range of $5.9 billion to $6.2 billion, and free cash flow to be between $5.3 billion and $5.6 billion.Honeywell International Inc. Price, Consensus and EPS Surprise Honeywell International Inc. price-consensus-eps-surprise-chart | Honeywell International Inc. QuoteZacks Rank & Stocks to ConsiderThe company currently carries a Zacks Rank #3 (Hold).Some better-ranked stocks are Griffon Corporation GFF, ITT Inc. ITT and 3M Company MMM, each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Griffon delivered an earnings surprise of 122.71%, on average, in the trailing four quarters.ITT delivered an earnings surprise of 26.36%, on average, in the trailing four quarters.3M delivered an earnings surprise of 9.85%, on average, in the trailing four quarters. Infrastructure Stock Boom to Sweep America A massive push to rebuild the crumbling U.S. infrastructure will soon be underway. It’s bipartisan, urgent, and inevitable. Trillions will be spent. Fortunes will be made. The only question is “Will you get into the right stocks early when their growth potential is greatest?” Zacks has released a Special Report to help you do just that, and today it’s free. Discover 7 special companies that look to gain the most from construction and repair to roads, bridges, and buildings, plus cargo hauling and energy transformation on an almost unimaginable scale.Download FREE: How to Profit from Trillions on Spending for Infrastructure >>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 Honeywell International Inc. (HON): Free Stock Analysis Report 3M Company (MMM): Free Stock Analysis Report ITT Inc. (ITT): Free Stock Analysis Report Griffon Corporation (GFF): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research