- Honeywell International Inc HON reported Q3 sales of $8.95 billion, up 6% Y/Y on a reported basis and 9% on an organic basis, missing the consensus of $8.99 billion
- Adjusted EPS was $2.25 (+11% Y/Y), beating the consensus of $2.16. The operating margin improved by 90 bps to 19.5%.
- Aerospace sales increased 9% Y/Y to $2.97 billion, and the segment margin expanded by 40 bps to 27.5%.
- Honeywell Building Technologies sales increased by 11% Y/Y to $1.53 billion, and segment margin expanded by 60 bps to 24.1%.
- Performance Materials and Technologies sales increased by 8% Y/Y to $2.72 billion, and segment margin expanded by 40 bps to 22.6%.
- Safety and Productivity Solutions sales decreased by 7% Y/Y to $1.73 billion, and segment margin improved by 250 bps to 15.7%.
- Darius Adamczyk, chairman and CEO, said, "Our backlog remains near record levels, closing the third quarter at $29.1 billion, up 9% year over year, and providing us with confidence in our demand expectations against an increasingly uncertain macroeconomic backdrop."
- Related: There Will Increased Business Jet Deliveries Over Next 10 Years, Honeywell Forecasts
- FY22 Outlook: Honeywell expects sales of $35.4-$35.7 billion, down from prior guidance of $35.5-$36.1 billion versus the consensus of $35.59 billion.
- The company expects adjusted EPS of $8.70-$8.80, compared to the previous range of $8.55 - $8.80.
- Price Action: HON shares are trading higher by 4.59% at $199.00 during the premarket session on the last check Thursday.
- Photo Via Wikimedia Commons
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Posted In:
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
