Honeywell International Inc (NASDAQ:HON) Beats Market Expectations

Honeywell International Inc (NASDAQ:HON) stock rose 0.17% (As on June 29, 11:18:00 AM UTC-4, Source: Google Finance) after the company posted better than expected results for the second quarter of FY 22. Aerospace sales increased 5% Y/Y to $2.9 billion, and segment margin expanded by 80 bps to 26.5%. Honeywell Building Technologies sales increased by 9% Y/Y to $1.53 billion, and segment margin expanded by 110 bps to 23.5%. Performance Materials and Technologies sales increased by 6% Y/Y to $2.69 billion, and segment margin expanded by 150 bps to 22.3%. Safety and Productivity Solutions sales decreased by 12% Y/Y to $1.83 billion, and segment margin contracted by 140 bps to 12.6%. Honeywell’s net cash provided by operating activities year-to-date totaled $825 million, compared to $2.26 billion a year ago. Honeywell’s orders increased 12% Y/Y; Backlog was up 12% to $29.5 billion, led by the company’s long-cycle businesses. In terms of capital, the company had deployed $2.3 billion to share repurchases, dividends and capital expenditures. Further, the company announced that Vimal Kapur has been appointed role of President and Chief Operating Officer, effective immediately.

Honeywell Office in Dartmouth Canada


HON in the second quarter of FY 22 has reported the adjusted earnings per share of $2.10, beating the analysts’ estimates for the adjusted earnings per share of $2.03. The company had reported the adjusted revenue growth of 2 percent to $8.95 billion in the second quarter of FY 22, beating the analysts’ estimates for revenue of $8.69 billion. Organic sales grew 4% year-over-year led by strong double digit growth in our commercial aviation, building products, productivity solutions and services, advanced sensing technologies, advanced materials and recurring connected software businesses. This was partially offset by 3 percentage-point impact from a combination of the wind down of the Russian operations and lower COVID-related mask sales as we lapped the height of demand in 2021.

For fiscal 2022, the company expects sales of $35.5 billion – $36.1 billion (prior $35.5 billion -$36.4 billion) vs. the consensus of $35.82 billion, representing 5% – 7% organic growth. It expects segment margin of 21.3% – 21.7% (prior 21.1% – 21.5%).

Honeywell sees adjusted EPS of $8.55 – $8.80 (prior $8.50 – $8.80) vs. the consensus of $8.68. It expects operating cash flow of $5.5 billion – $5.9 billion (prior $5.7 billion – $6.1 billion), with free cash flow of $4.7 billion – $5.1 billion.

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