Categories AlphaGraphs, Earnings, Industrials

Earnings: Honeywell beats the market once again in Q4

Total sales declined 10% to $9.72 billion for Honeywell International (HON) in the fourth quarter, hurt by the impact of its recent spin-offs. However, the top line edged past Wall Street expectation of $9.69 billion.

Organic sales improved 6%, primarily driven by continued strength in commercial aerospace, US defense, and warehouse automation.

Earnings during the quarter increased to $1.91 per share from $1.89 per share in the same period last year. Analysts’ projection for Q4 bottom line was $1.88 per share.

Honeywell Q4 2018 earnings infographic

 

HON shares popped 0.6% during pre-market trading on Friday. The stock has declined 9% in the past 12 months.

For full-year 2019, the manufacturing giant currently expects net sales in the range of $36-36.9 billion. EPS for this period is projected in the range of $7.80 – $8.10.

CEO Darius Adamczyk said, “We now have a simpler, more focused portfolio spread across six attractive end markets with approximately 60% of the portfolio growing sales at or above 5 percent organically for the full year.”

The  Charlotte, North Carolina – based firm had completed its spinoff of Resideo Technologies, which comprises Homes and Global Distribution businesses, at the end of October. Earlier that month, it had also completed the spinoff of its Transportation business into a standalone entity named Garrett Motion.

Courtesy: Honeywell

With the spinoffs of both Garrett and Resideo now complete, Honeywell is better positioned to focus on areas like aerospace, which have high growth potential. The spinoffs are likely to be beneficial to the company in the long term as it would provide more flexibility in terms of capital allocation and other growth initiatives.

 

Browse through our earnings calendar and get all scheduled earnings announcements, analyst/investor conference, and much more!

Most Popular

MU Earnings: Micron’s Q4 profit declines but beats estimates

Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted

What are Philip Morris’ (PM) anticipations for the near term?

Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,

Key highlights from CarMax (KMX) Q2 2023 earnings results

CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top