Business
Honeywell Delivers 9% Sales Growth And Expands Operating Margin By 180 Basis Points
- Earnings Per Share of $1.80, Adjusted Earnings Per Share(1) of $2.02, at High End of Guidance - Organic Sales up 8%; Second Straight Quarter of Sales Growth
About this update from Honeywell International Inc.
[{"type":"text","content":"- Earnings Per Share of $1.80, Adjusted Earnings Per Share(1) of $2.02, at High End of Guidance\n - Organic Sales up 8%; Second Straight Quarter of Sales Growth in All Four Segments\n - Operating Margin up 180 Basis Points to 18.6%; Segment Margin up 130 Basis Points to 21.2%\n - Deployed $1.5 Billion in Capital to Share Repurchases, Dividends, Capital Expenditures, and Acquisitions\n - Orders up High Single Digits, up Double Digits Ex-COVID Mask Demand; Backlog up 7% to $27.5 Billion\n\n\nCHARLOTTE, N.C., Oct. 22, 2021 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced outstanding results for the third quarter that met or exceeded the company's guidance.\n\n \n \n \n \n \n \n\n \n\"The third quarter was another strong one for Honeywell, with sales growth in all four segments, significant margin expansion, and exceptional execution even as we faced tough challenges in the supply chain environment,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"Organic sales grew 8%, led by 38% growth in Aerospace commercial aftermarket, 21% growth in Safety and Productivity Solutions, and 29% growth in UOP and 14% growth in advanced materials within Performance Materials and Technologies. Our focus on operational and commercial excellence enabled us to expand segment margin by 130 basis points to 21.2%, exceeding the high end of our guidance range by 60 basis points. As a result, we delivered adjusted earnings per share1 of $2.02, up 29% year over year, achieving the high end of our third-quarter guidance range. Our cash performance was strong, and we remain on track to meet our cash flow commitments for the year. We continued to execute on our capital deployment strategy, repurchasing $0.7 billion in shares, announcing our 12th dividend increase in the past 11 years, and completing the acquisition of Performix Inc. to expand our portfolio of automation solutions for the life sciences industry.\"\nAdamczyk continued, \"Our disciplined approach to productivity and pricing helped deliver a strong third quarter despite an uncertain global environment marked by supply chain constraints, increasing raw material inflation, and labor market challenges. We continue to focus on mitigating these challenges in the fourth quarter, while capitalizing on near-term growth opportunities across our portfolio.\"\nHoneywell updat...