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Honeywell Beats On Q2 Earnings, Thanks To Aerospace Strength; Lowers FY24 EPS Outlook
Honeywell International Inc. (NASDAQ:HON) shares are trading lower after the company reported second-quarter results and lowered FY24 EPS guidance.
Revenue grew 5% Y/Y (organic: +4% Y/Y) to $9.58 billion, beating the consensus of $9.41 billion.
The sales increase was attributed to double-digit organic sales growth in defense and space, commercial aviation, and building solutions.
Adjusted EPS was $2.49 (+8% Y/Y), beating the consensus of $2.42.
Sales by Segments: Aerospace Technologies $3.89 billion (+16% Y/Y), Industrial Automation $2.51 billion (-8% Y/Y), Building Automation $1.57 billion (+4% Y/Y) and Energy and Sustainability Solutions $1.60 billion (+2% Y/Y).
Operating margin expanded by 10 bps Y/Y to 20.7%, and Segment margin contracted by 10 bps Y/Y to 23.0% in the quarter.
Operating cash flow stood at $1.4 billion and free cash flow was $1.1 billion.
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