Honeywell

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lower our 12-month target to $200 from $210, 19.1x our 2024 EPS estimate of $10.48 (lowered from $10.51; 2023 raised to $9.16 from $9.08), in line with HON’s pre-pandemic 2018-2019 forward P/E average to reflect higher-than-usual forecasting uncertainty amid rising interest rates and global macro issues. HON posted Q3 adj-EPS of $2.27 vs. $2.25 (+1% Y/Y), beating consensus by $0.04. We attribute the beat to better-than-anticipated margin execution (operating margin +140 bps Y/Y), on positive impacts from productivity actions within Honeywell Building Tech. The top line for Q3 expanded by 3% Y/Y (+2% organically), reflecting robust sales growth in Aerospace (+18% organic; 38% of total Q3 sales) with strength in both commercial aviation and defense activity. We expect Aerospace to remain the growth engine within HON’s […]

Honeywell (NASDAQ:HON) Raises Lower End of Guidance: Adj. EPS $9.05 – $9.25 (From $9.00 – $9.25 Prior) Vs. $9.15 Estimate, Revenue $36.7B – $37.3B (From $36.5B – $37.3B Prior) Vs. $37B Estimate.

Honeywell International (NASDAQ:HON) reported Q2 adjusted earnings  of $2.23 per diluted share, up from $2.10 per share a year earlier. Analysts polled by Capital IQ expected adjusted EPS of $2.21. Net sales for the quarter ended June 30 were $9.15 billion, compared with $8.95 billion a year earlier. Analysts surveyed by Capital IQ expected $9.17 billion. Honeywell also said it now expects 2023 adjusted EPS to be $9.60 to $9.80, compared with the prior outlook of $9.55 to $9.80. Analysts polled by Capital IQ expect adjusted EPS of $9.15. Sales for the year are projected to be $36.7 billion to $37.3 billion, compared with the prior outlook of $36.5 billion to $37.3 billion. Analysts polled by Capital IQ expect $37 billion.