Honeywell International Inc. announced third-quarter adjusted earnings on Friday that beat analysts’ projections.

The Charlotte-based multinational conglomerate also reinstated fiscal guidance for its fourth quarter and fiscal year.

The company reported a third-quarter year-over-year sales of $7.8 billion, a decline of 14 percent from last year’s $9.1 billion. However, the sales were above analysts’ forecast of $7.7 billion.

As COVID-19’s impact has hit airlines hard, Honeywell’s aerospace sales fell 25 percent on a year-over-year basis.

Sales of “safety of productivity solutions” gained 8 percent due to the demand for personal protective equipment, as well as growth in productivity solutions and services.

“We continued to focus on driving sales growth in areas that have not been as impacted by the current downturn, including defense and space, warehouse automation and personal protective equipment, all of which grew by double-digits organically year-over-year,” Honeywell CEO Darius Adamczyk said.

The company also cut costs by $450 million during the quarter, which brings the year-to-date cost-cutting measurement to approximately $1.1 billion.

Honeywell expects fourth-quarter sales of $8.2 to $8.5 billion, and earnings per share of $1.97 to $2.02.

Shares of Honeywell rose 35 cents, or 0.21 percent, to close Friday at $164.95.