Categories AlphaGraphs, Earnings, Other Industries

Honeywell posts 8% growth in Q2 sales

Honeywell International Inc. (HON) reported an 8% increase in sales to $10.9 billion during the second quarter of 2018. Sales grew 6% on an organic basis, driven by widespread growth across the business.

Net income attributable to Honeywell decreased to $1.26 billion or $1.68 per share from $1.39 billion or $1.80 per share last year. Reported EPS declined 7%. On an adjusted basis, EPS grew 18% to $2.12, exceeding the high end of the company’s guidance range. The firm’s revenue and adjusted EPS numbers beat analyst expectations.

Honeywell International second quarter 2018 earnings
Honeywell Q2 2018 Earnings Infographic

Operating income margin improved 40 basis points to 16.3%. Segment margin improved 60 basis points to 19.6%, coming in above the high end of the outlook provided last quarter.

Aerospace sales grew 8% on an organic basis driven by growth in business aviation OE, demand in commercial aftermarket and Transportation Systems along with strength in defense. Home and Building Technologies sales rose 3% organically helped by strength in residential thermal products and growth in the ADI distribution business.

Honeywell expects to complete the spinoff of its Transportation Systems operations by the end of the third quarter, at which time the business will be rebranded as Garrett. The Homes business spinoff is on track to be completed by the end of 2018. The company’s long-cycle orders and backlog grew 11% and 14% respectively.

Honeywell raised its guidance for full-year 2018. The company expects sales of $43.1 billion to $43.6 billion and organic growth of 5% to 6%. EPS is expected to grow 13% to 15% to a range between $8.05 and $8.15.

Related: Earnings preview: Honeywell might prevail despite the tariff war

Related: Honeywell International Inc. Q2 2018 Earnings Call Transcript

Related: Honeywell Q1 2018 Earnings Infographic

Honeywell Q1 2018 Earnings

Most Popular

Electronic Arts (EA) Q4 earnings drop and miss estimates; revenue down 3%

Video game company Electronic Arts, Inc. (NASDAQ: EA) reported lower earnings and revenues for the fourth quarter of 2021. Earnings also missed analysts' forecast. During the March quarter, net bookings

What lies in store for Tyson Foods (TSN) this year?

Shares of Tyson Foods Inc. (NYSE: TSN) were in green territory during afternoon hours on Tuesday. The stock has gained 32% over the past 12 months and 23% since the

Virgin Galactic (SPCE) fails to impress market amid looming uncertainty

Space tourism company Virgin Galactic Holdings, Inc. (NYSE: SPCE) ended the first quarter of 2021 without generating revenue and continued the losing streak even as uncertainty over its test flight

Tags

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