Honeywell Earnings Rise. More People Ride Planes and More Are Going to Offices. | HON Message Board Posts


Honeywell International Inc.

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Msg  198 of 209  at  7/28/2022 12:12:12 PM  by

jerrykrause


Honeywell Earnings Rise. More People Ride Planes and More Are Going to Offices.

 

Honeywell Earnings Rise. More People Ride Planes and More Are Going to Offices.

 
 

More people are jumping on planes and more are going back to offices and that boosted second-quarter numbers from Honeywell International. That should be a relief to investors.

Honeywell (ticker: HON) reported adjusted earnings per share of $2.10 from $9 billion in sales. Wall Street was looking for $2.03 a share from $8.7 billion in sales.

In the first quarter of 2022, Honeywell reported $1.91 a share from $8.4 billion in sales. In the second quarter of 2021, Honeywell reported per share earnings of $2.02 from $8.8 billion in sales. Things are going in the right direction.

Earnings guidance for the full year ticked up a little too, going to a midpoint of about $8.68 a share from $8.65 a share. Wall Street is projecting $8.69 in 2022 earnings per share.

Sales and earnings guidance for the third quarter is a midpoint of about $9.1 billion and $2.15 a share, respectively. Sales are in line with Wall Street expectations. Earnings look a little light. Analyst are projecting about $2.25 in third-quarter per-share earnings.

Still, it looks like a solid report. Shares were up 2.2% in premarket trading. S&P 500 and Dow Jones Industrial Average futures fell 0.3% and 0.2%, respectively.

Coming into Thursday trading, Honeywell shares have declined about 12% this year.

"Honeywell met or exceeded guidance for all metrics in the second quarter despite a challenging macroeconomic backdrop," said CEO Darius Adamczyk in the company's news release. He was pleased with sales growth posted in many of Honeywell's businesses.

Aerospace sales rose about 5% on a comparable basis year over year. That's the same as first-quarter growth and another sign that the aviation business is continuing its recovery from its Covid-related slump.

Sales growth in the commercial buildings segment came in at about 14%, up from 10% in the first quarter. That's another sign that the worst of Covid-19 related impacts are fading. That business does better when people are back in buildings.

Sales at Honeywell's energy grew about 10% year over year, up from about 6% in the first quarter.

The safety business, which includes masks, contracted. Sales were down 10% in the second quarter. That business was down 15% year over year in the first quarter.

Options markets imply Honeywell stock will move about 4%, up or down, following earnings. That's similar to the post-earnings volatility experienced over the past four quarters. Shares have risen once and fallen three times over that span.

The company hosts a conference call at 8:30 a.m. Eastern time to discuss results. Investors and analysts will be eager to hear about demand as well as a recovery in aerospace and a return to offices by workers.

 


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