Free Research Report as Honeywell's Sales Grew 8.3%; Adjusted EPS Scaled 17.8%

LONDON, UK / ACCESSWIRE / July 25, 2018 / If you want access to our free earnings report on Honeywell International Inc. (NYSE: HON) ("Honeywell"), all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=HON. The Company reported its financial results on July 20, 2018, for the second quarter of the fiscal year 2018 (Q2 FY18). The software-industrial Company surpassed analysts' estimates for revenues and earnings for Q2 FY18. In addition, the Company updated its guidance for the full fiscal year 2018. Register today and get access to over 1,000 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

For the second quarter ended June 30, 2018, Honeywell's net sales grew 8.3% to $10.92 billion compared to $10.08 billion in the second quarter of the fiscal year 2017. The Company's revenue numbers exceeded analysts' projections of $10.78 billion.

For the reported quarter, Honeywell incurred costs, expenses, and other of $8.92 billion versus $8.30 billion in the year ago comparable period, increasing 7.5% on a y-o-y basis. The Company's operating income advanced 11.3% to $1.78 billion in Q2 FY18 compared to $1.60 billion in Q2 FY17.

During Q2 FY18, Honeywell reported a net income of $1.27 billion compared to $1.39 billion in Q2 FY17, decreasing 9.0% on a y-o-y basis. The Company's diluted earnings per share (EPS) dropped 6.7% to $1.68 in the reported quarter compared to $1.80 in the year ago corresponding period. The Company's adjusted EPS surged 17.8% to $2.12 in Q2 FY18 compared to $1.80 in Q2 FY17, beating analysts' estimates of $2.01.

Segment Details

Honeywell operates through four segments, namely: (i) Aerospace; (ii) Home and Building Technologies; (iii) Performance Materials and Technologies; and (iv) Safety and Productivity Solutions.

Honeywell's Aerospace segment's sales rose 10.5% to $4.06 billion in Q2 FY18 compared to $3.67 billion in Q2 FY17. The improvement in the segment's sales was driven by a growth in business aviation OE, demand in the commercial aftermarket, strength in US and international defense, and demand for light vehicle gas and commercial vehicle turbochargers in Transportation Systems. The segment's profit grew 12.1% to $918.0 million in the reported quarter compared to $819.0 million in the year ago same period.

During Q2 FY18, Honeywell's Home and Building Technologies segment's sales were $2.55 billion, up by 5.5% from $2.41 billion in Q2 FY17, primarily driven by an organic growth and the favorable impact of foreign currency. The segment's profit hiked 9.2% to $427.0 million in Q2 FY18 compared to $391.0 million in Q2 FY17.

For the reported quarter, Honeywell’s Performance Materials and Technologies segment added sales of $2.70 billion versus $2.56 billion in the comparable quarter of last year, increasing 5.3% on a y-o-y basis. The segment's profit climbed 8.0% to $597.0 million in Q2 FY18 compared to $553.0 million in Q2 FY17.

Honeywell's Safety and Productivity Solutions segment's sales were $1.62 billion in Q2 FY18, up by 13.2% from $1.43 billion in Q2 FY17. For the reported quarter, the segment's profit zoomed 24.8% to $267.0 million compared to $214.0 million in the prior year's corresponding period.

Cash Matters

As of June 30, 2018, Honeywell's cash and cash equivalents stood at $8.08 billion compared to $7.88 billion as of June 30, 2017. The Company had a long-term debt balance of $12.50 billion as of June 30, 2018, versus $12.57 billion as of December 31, 2017. For the six months ended June 30, 2018, the Company generated a cash inflow from operating activities of $3.00 billion compared to $2.39 billion in the six months ended June 30, 2017. The Company generated a free cash flow, excluding separation cost impacts of $67.0 million, of $1.73 billion in Q2 FY18 compared to $1.21 billion in Q2 FY17.

For the reported quarter, Honeywell repurchased 5,207,773 shares of its common stock.

Outlook

For the full fiscal year 2018, Honeywell expects sales to be in the range of $43.1 billion to $43.6 billion compared to its previous guidance of $42.7 billion to $43.5 billion. The Company anticipates EPS to be in the band of $8.05 to $8.15 compared to its previous target of $7.85 to $8.05; and earnings growth to be between 13% and 15% compared to 10% to 13% previously raised for FY18. The Company projects free cash flow to be in the range of $5.6 billion to $6.2 billion compared to the previous range of $5.3 billion to $5.9 billion for FY18.

Stock Performance Snapshot

July 24, 2018 - At Tuesday's closing bell, Honeywell International's stock marginally advanced 0.95%, ending the trading session at $155.16.

Volume traded for the day: 3.81 million shares, which was above the 3-month average volume of 2.61 million shares.

Stock performance in the last month - up 7.75%; previous three-month period - up 5.39%; past twelve-month period - up 12.67%; and year-to-date - up 1.17%

After yesterday's close, Honeywell International's market cap was at $115.67 billion.

Price to Earnings (P/E) ratio was at 34.84.

The stock has a dividend yield of 1.92%.

The stock is part of the Industrial Goods sector, categorized under the Diversified Machinery industry. This sector was up 0.8% at the end of the session.

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