Free Post Earnings Research Report: Honeywell’s Earnings Scaled by 14%
Stock Monitor: Dover Post Earnings Reporting
LONDON, UK / ACCESSWIRE / May 02, 2018 / Active-Investors.com has just released a free earnings report on Honeywell International Inc. (NYSE: HON) ("Honeywell"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HON. The Company posted its financial results on April 20, 2018, for the first quarter of the fiscal year 2018 (Q1 FY18). The US industrial conglomerate reported better than expected revenue and earnings results. Additionally, the Company raised its guidance for FY18. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Honeywell International most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
Honeywell's total revenues grew 9.4% to $10.39 billion in Q1 FY18 compared to $9.49 billion in Q1 FY17, primarily due to a rise of 12% in the sales for the Aerospace segment in the reported quarter, which increased due to a growth in commercial original equipment deliveries and an increase in defense sales volumes. The Company's total revenue numbers surpassed analysts' estimates of $9.94 billion.
For Q1 FY18, Honeywell incurred total expenses of $8.48 billion versus $7.77 billion in the year ago same period.
During Q1 FY18, Honeywell earned a net income of $1.44 billion versus $1.33 billion in the comparable period of last year. The Company reported an increase in earnings per share (EPS) of 14% to $1.95 in the reported quarter versus $1.71 in Q1 FY17. The Company's EPS beat market projections of $1.91.
Segment Details
Honeywell operates through four segments, namely (i) Aerospace (Aero); (ii) Home and Building Technologies (HBT); (iii) Performance Materials and Technologies (PMT); and (iv) Safety and Productivity Solutions (SPS).
During Q1 FY18, Honeywell's Aero segment generated revenues of $3.98 billion, up 12% compared to $3.55 billion in Q1 FY17, driven by a growth in commercial OE and US defense, and a strength in light vehicle gas and commercial vehicle turbochargers in Transportation Systems. The segment's margin expanded 10 basis points (bps) to 22.5%, with benefits from commercial excellence, productivity, and lower customer incentives.
Honeywell's HBT segment produced total revenues of $2.43 billion in Q1 FY18 compared to $2.27 billion in Q1 FY17, driven by demand for residential thermal solutions and thermostats, continued strength in ADI on a global basis, and strong backlog conversion in the energy vertical within Building Solutions. The segment's margin expanded 50 bps to 17.1%, primarily driven by commercial excellence.
Honeywell's PMT segment aggregated total revenues to $2.53 billion in Q1 FY18 versus $2.35 billion in Q1 FY17, driven by strong short-cycle demand in thermal solutions, smart energy, maintenance services, and field instrumentation in Process Solutions and Engineering. The segment's margin was unchanged at 20.5% in the reported quarter, primarily driven by productivity net of inflation and commercial excellence.
Honeywell's SPS segment added revenues to $1.45 billion in Q1 FY18 compared to $1.32 billion in the year ago corresponding period. The segment's margin expanded 130 bps to 16.0%, primarily driven by higher sales volumes and productivity net of inflation.
Cash Matters
As of March 31, 2018, Honeywell's cash and cash equivalents stood at $7.90 billion compared to $7.71 billion as of March 31, 2017. Honeywell had a long-term debt balance of $12.74 billion as on March 31, 2018, versus $11.18 billion as on March 31, 2017.
Honeywell's net cash from operating activities increased to $1.14 billion in Q1 FY18 compared to $940 million in Q1 FY17. During Q1 FY18, the Company repurchased $940 million of outstanding shares.
Outlook
For Q2 FY18, Honeywell is forecasting sales to be in the range of $10.7 billion to $10.8 billion, and EPS to be in the band of $1.97 to $2.03.
For FY18, Honeywell is projecting total sales to be in the range of $42.7 billion to 43.5 billion compared to its earlier forecasts of $41.8 billion to $42.5 billion. The Company is expecting EPS to jump by 10% to 13%, in capacity of $7.85 to $8.05, versus its previous forecasts of $7.75 to $8.00. Honeywell is estimating free cash flow to be in the band of $5.3 billion to $5.9 billion for FY18, higher compared to its earlier guidance of $5.2 billion to $5.9 billion.
Stock Performance Snapshot
May 01, 2018 - At Tuesday's closing bell, Honeywell International's stock was marginally down 0.12%, ending the trading session at $144.51.
Volume traded for the day: 2.43 million shares.
Stock performance in the last month – up 1.46%; and past twelve-month period – up 10.40%
After yesterday's close, Honeywell International's market cap was at $108.03 billion.
Price to Earnings (P/E) ratio was at 32.45.
The stock has a dividend yield of 2.06%.
The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry.
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