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4-Traders Homepage  >  Equities  >  Nyse  >  Honeywell International Inc.    HON

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Honeywell International Inc. : Post Earnings Coverage as Honeywell Quarterly Adjusted EPS Jumped 11%

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04/26/2017 | 02:21pm CEST

Upcoming AWS Coverage on Roper Technologies Post-Earnings Results

LONDON, UK / ACCESSWIRE / April 26, 2017 / Active Wall St. announces its post-earnings coverage on Honeywell International Inc. (NYSE: HON). The Company reported its first quarter fiscal 2017 results on April 21, 2017. The industrial conglomerate surpassed sales and earnings forecasts and also raised its earnings guidance. Register with us now for your free membership at:

http://www.activewallst.com/register/

One of Honeywell International's competitors within the Diversified Machinery space, Roper Technologies, Inc. (NYSE: ROP), announced on April 10, 2017, that its financial results for the first quarter of 2017, ended March 31, 2017, will be released before the market opens on Friday, April 28, 2017. A conference call to discuss these results has been scheduled for 8:30 AM ET on Friday, April 28, 2017. AWS will be initiating a research report on Roper Technologies in the coming days.

Today, AWS is promoting its earnings coverage on HON; touching on ROP. Get our free coverage by signing up to

http://www.activewallst.com/register/

Earnings Reviewed

For the period ended March 31, 2017, Honeywell's revenue declined marginally on reported basis to $9.49 billion and up over 2% on an organic basis. The Company stated that the difference between the reported and organic sales was primarily due to the impact of foreign currency translation, the spin-off of the former Resins and Chemicals business, and the divestiture of the Aerospace government services business. Honeywell's sales numbers were ahead of the market estimate of $9.33 billion.

"Honeywell reported a strong start to 2017, with over 2 percent organic sales growth, 70 basis points of segment margin expansion, and free cash flow of nearly $800 million that was more than six times greater than 2016," said Darius Adamczyk, President and Chief Executive Officer of Honeywell.

Honeywell reported net income of $1.33 billion, or $1.71 per share, in Q1 201,7 up compared to net income of $1.22 billion, or $1.56 per share, in Q1 2016. Excluding divestitures, the Company's per-share earnings came in at $1.66, $0.02 above the high-end of its first-quarter guidance and up 11% on a y-o-y basis and ahead of analysts' consensus of $1.62 per share.

Segment Performance

During Q1 2017, Honeywell's Aerospace sales dropped 4% to $3.55 billion, but were flat on an organic basis driven by growth in the Air Transport aftermarket and gas turbo penetration in Europe and China, offset by lower OE volumes in Business and General Aviation. Overall, Defense and Space sales were flat on an organic basis in the quarter. The segment's margin expanded 90 bps to 22.4%, driven by restructuring benefits, productivity net of inflation, and commercial excellence, partially offset by lower Business and General Aviation volumes.

For Q1 2017, Honeywell's Home and Building Technologies reported sales of $2.55 billion, up 3%, driven by strong performance in Distribution, air and water products growth in China, and the impact of new product introductions. The segment's margin expanded 70 bps to 15.2%, driven by restructuring benefits and productivity net of inflation, partially offset by growth investments.

Performance Materials and Technologies sales for Q1 2017 fell 9% to 2.07 billion, but were up 5% on an organic basis driven by a continued increase in Solstice® sales in Advanced Materials and strong modular gas processing growth in UOP. The segment's margin expanded 260 bps to 22.8%, driven by productivity net of inflation, commercial excellence, and higher sales volume.

During Q1 2017, Honeywell's Safety and Productivity Solutions sales surged 25% to $1.32 billion, and were up 3% on an organic basis as a result of higher volumes in safety products and workflow solutions. The segment's margin improved 50 bps to 14.7%, primarily driven by restructuring benefits and productivity, net of inflation, partially offset by acquisition amortization and integration costs. Excluding the impact of acquisitions, the segment's margin expanded by more than 300 bps.

As of March 31, 2017, Honeywell's cash, cash equivalents, and short-term investments totaled $9.6 billion compared to $9.4 billion at the end of December 2016.

Dividend Announcement

On April 24, 2017, Honeywell's Board of Directors declared a regular quarterly dividend of $0.665 per share on the Company's outstanding common stock. The dividend is payable on June 09, 2017 out of surplus to shareholders of record at the close of business on May 19, 2017.

Outlook

As a result of its strong performance, Honeywell raised the low-end of their full-year guidance by $0.05. The Company is now forecasting FY17 earnings per share to be in the range of $6.90 to $7.10, up 7% to 10%, excluding divestitures, any pension mark-to-market adjustments, and 2016 debt refinancing charges.

Stock Performance

On Tuesday, April 25, 2017, the stock closed the trading session at $129.30, marginally down 0.38% from its previous closing price of $129.79. A total volume of 6.46 million shares have exchanged hands, which was higher than the 3-month average volume of 2.86 million shares. Honeywell International's stock price advanced 10.20% in the last three months, 20.01% in the past six months, and 16.66% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have gained 12.21%. The stock is trading at a PE ratio of 20.82 and has a dividend yield of 2.06%.

Active Wall Street:

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AWS, the Author, and the Reviewer are not responsible for any error which may be occasioned at the time of printing of this document or any error, mistake or shortcoming. No liability is accepted whatsoever for any direct, indirect or consequential loss arising from the use of this document. AWS, the Author, and the Reviewer expressly disclaim any fiduciary responsibility or liability for any consequences, financial or otherwise arising from any reliance placed on the information in this document. Additionally, AWS, the Author, and the Reviewer do not (1) guarantee the accuracy, timeliness, completeness or correct sequencing of the information, or (2) warrant any results from use of the information. The included information is subject to change without notice.

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© Accesswire 2017
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Financials ($)
Sales 2017 39 320 M
EBIT 2017 7 623 M
Net income 2017 5 422 M
Debt 2017 4 161 M
Yield 2017 2,04%
P/E ratio 2017 18,41
P/E ratio 2018 16,90
EV / Sales 2017 2,61x
EV / Sales 2018 2,48x
Capitalization 98 570 M
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Chart HONEYWELL INTERNATIONAL IN
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Honeywell International In Technical Analysis Chart | HON | US4385161066 | 4-Traders
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Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 21
Average target price 136 $
Spread / Average Target 5,3%
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EPS Revisions
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Managers
NameTitle
Darius Adamczyk President, Chief Executive Officer & Director
David M. Cote Executive Chairman
Thomas A. Szlosek Chief Financial Officer & Senior Vice President
Krishna Mikkilineni Senior Vice President-Engineering & Operations
Jaime Chico Pardo Lead Independent Director
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