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Msg  199 of 208  at  10/27/2022 11:25:47 AM  by

jerrykrause


Honeywell Earnings Reveal Its Managing Well Through This Economy

 

Honeywell Earnings Reveal Its Managing Well Through This Economy

 

Honeywell International's third-quarter numbers looked solid . What's more, the company raised full-year earnings guidance. Shares were rising as investors mull what's next for the stock amid economic headwinds.

Honeywell (ticker: HON) on Thursday reported third-quarter earnings per share of $2.25 from almost $9 billion in sales. Wall Street was looking for earnings per share of $2.15 from about $9 billion in sales.

Along with solid results, Honeywell raised sales and earnings guidance. The company now expects to generate earnings per share of about $8.75 a share, up from prior guidance of about $8.68 a share.

Shares rose 3% in premarket trading, shortly after results were released. S&P 500 and Dow Jones Industrial Average futures are up 0.1% and 0.3%, respectively.

This is breaking news, read an earnings preview below.

Honeywell's third-quarter numbers, look solid. What's more due out Thursday morning, will offer another look at the state of the economy.

Wall Street is looking for earnings per share of $2.15 from about $9 billion in sales. Honeywell (ticker: HON) reported adjusted earnings per share of $2.10 from $9 billion in sales in the second quarter .

Sure, investors will want the typical earnings beat—they always do. But since the conglomerate's businesses touch nearly every area of the economy, investors will get a unique read on the global recession picture.

In a research report previewing earnings for all companies he covers, RBC analyst Deane Dray said that "macro recession fears continue to punish the stocks ahead of signs of a slowdown." Sector-wide numbers "should be in line, but investors are unlikely to care. What matters this quarter will be any confirming falloff in demand or inflection in forward commentary."

Guidance for future quarters will offer another indication of how the economy is faring. In July, Honeywell management said the company would generate earnings per share of $8.68 from sales of $35.8 billion in 2022.

Management's comments will give more color. The company is scheduled to hold a conference call at 8:30 a.m. Eastern to discuss results.

Options markets imply shares will move about 4%, up or down, after earnings. Shares have moved an average of about 4%, up or down, following the past four quarterly reports. Honeywell stock has risen twice and fallen twice over that span.

Honeywell shares are down about 8% year to date while the S&P 500 and Dow Jones Industrial Average are off about 19% and 12%, respectively.

 


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