Honeywell Raises EPS Outlook, Cuts Sales Forecast After First Post-Split Earnings
Honeywell International Inc. (NASDAQ: HON ) shares are trading higher on Thursday after the company raised the full-year adjusted EPS outlook. The company reported second-quarter adjusted EPS of $4.52, missing the $4.81 analyst estimate. Meanwhile, revenue rose 4% year over year (Y/Y) to $9.719 billion, exceeding expectations of $9.506 billion. Organic sales also increased 4% Y/Y in the quarter, and orders climbed 4% Y/Y, lifting backlog to about $38 billion. Excluding Aerospace Technologies business, organic sales increased 4% Y/Y, and orders surged 16% Y/Y, leading to a backlog of around $20 billion. Adjusted segment profit rose 5% Y/Y to $2.24 billion, while segment margin expanded 30 basis points to 23.1% in the quarter. Operating cash flow increased to $1.28 billion from $1.06 billion a year earlier. Free cash flow rose 43% Y/Y to $1.25 billion in the quarter. As of the end of th...
Honeywell International Inc. (NASDAQ: HON ) shares are trading higher on Thursday after the company raised the full-year adjusted EPS outlook. 81 analyst estimate. 506 billion.
Organic sales also increased 4% Y/Y in the quarter, and orders climbed 4% Y/Y, lifting backlog to about $38 billion. Excluding Aerospace Technologies business, organic sales increased 4% Y/Y, and orders surged 16% Y/Y, leading to a backlog of around $20 billion. 1% in the quarter. 06 billion a year earlier.
25 billion in the quarter. 75 billion. Read Also: Honeywell Lays Out Automation Growth Roadmap Segment Performance Building Automation sales increased 9% Y/Y organically, with building products up 10% Y/Y led by strong fire business growth, and building solutions up 7% Y/Y led by services. Orders rose 13% Y/Y, supported by strong demand from data centers and hospitality.
1% due to volume leverage and pricing. Industrial Automation sales grew 4% Y/Y organically, on 10% Y/Y growth in solutions from utilities projects and warehouse backlog conversion. Products increased 1% Y/Y on sensing and industrial measurement demand. 2%, supported by pricing and productivity gains.
However, Process Automation and Technology sales declined 1% Y/Y organically on a 6% Y/Y decline in aftermarket sales. 1% due to lower catalyst volumes and unfavorable mix. Notably, Honeywell completed the spin-off of Aerospace Technologies business into a new public company, Honeywell Aerospace Inc. (NASDAQ: HONA ) last month.
In the quarter, Aerospace Technologies’ organic sales increased 5% Y/Y, driven by 17% Y/Y growth in commercial aviation original equipment and 7% Y/Y growth in aftermarket demand. Results were impacted by material supply constraints, while defense and space sales were flat due to production timing. 1 billion, including a $40 million inventory obsolescence charge. 30.
286 billion estimate. 20 (vs. 0 billion (vs. 253 billion).
240 billion). The company expects the Process Automation & Technology business to accelerate in the third quarter, led by higher project activity, catalyst shipments, and a strong backlog. Also, it projects Industrial Automation growth to improve in the second half, led by product demand. 78 at the time of publication on Thursday, according to Pro data.
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