Honeywell International Inc. (NYSE: HON) reported its financial results for the quarter ended March 31, 2020 today. The bottom-line came in above the analysts’ expectations while the top line missed consensus estimates.
Honeywell posted a 12% jump in earnings for the first quarter of 2020 helped by lower costs and expenses despite a 5% decline in the top-line. The softness in the building solutions projects and volume declines in security and building management products hurt Honeywell Building Technologies.
The company’s Performance Materials and Technologies and Safety and Productivity Solutions segments showed declines in sales for the quarter. However, the Aerospace segment showed a marginal rise backed by continued strength in the Defense and Space business and growth in air transport commercial aftermarket.
Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell said it has temporarily suspended its full-year guidance until the economic impact of coronavirus stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors.
Autodesk, Inc. (NASDAQ: ADSK) today reported its fourth quarter financial results for the period ended January 31, 2021. Net income for the fourth quarter was $911.3 million, or $4.10 per
Beyond Meat (NASDAQ: BYND), a specialist in plant-based meat substitutes, Thursday reported a wider loss for the fourth quarter, despite an increase in revenues. The numbers also missed the consensus
Virgin Galactic (NYSE: SPCE) reported fourth-quarter 2020 financial results after the regular market hours on Thursday. The space tourism company reported zero revenue in the fourth quarter, compared to $529,000