Though short at the midpoint, we did get upward revisions to several important full-year targets and the team remains on track to achieving its longer-term organic growth, and profit and cash flow margin targets. Moreover, Honeywell's backlog - sales made but not yet completed and recorded - grew 4% annually to a new record of $30.5 billion thanks to strength in the aerospace, building technologies, and performance materials and technologies businesses. However, there were several bright spots, including a strong overall segment profit margin that helped the bottom line outperform and robust cash flow performance. Bottom line The mixed headline results were a let down. ![]() The segment margin, similar to an adjusted operating income margin, expanded 158 basis points year over year to 22.4%, edging out analysts' forecasts of a 22.3% margin. Adjusted earnings-per-share (EPS) of $2.23 advanced 6% annually, edging out the consensus forecast of $2.21 a share. Revenue ticked up 3% year over year organically to $9.15 billion, shy of analysts' expectations of $9.17 billion, according to estimates compiled by Refinitiv. ![]() But we see several reasons for optimism in the report, and are upgrading our rating on HON shares. Shares of Honeywell (HON) fell Thursday after the industrial conglomerate reported disappointing second-quarter earnings and forward guidance. ![]() Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower Best Debt Consolidation Loans for Bad Credit
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |