Business
HONEYWELL DELIVERS STRONG FOURTH QUARTER RESULTS, FULL YEAR OPERATING CASH FLOW OF $6.0 BILLION AND FREE CASH FLOW OF $5.7 BILLION, ABOVE HIGH END OF INITIAL GUIDANCE; ISSUES 2022 GUIDANCE
- Fourth Quarter Sales of $8.7 Billion at Midpoint of Previous Guidance - Fourth Quarter EPS of $2.05 and Adjusted EPS² of $2.09, Above Midpoint of Previous
About this update from Honeywell International Inc.
[{"type":"text","content":"- Fourth Quarter Sales of $8.7 Billion at Midpoint of Previous Guidance\n - Fourth Quarter EPS of $2.05 and Adjusted EPS² of $2.09, Above Midpoint of Previous Guidance\n - Full Year EPS of $7.91 and Adjusted EPS⁵ of $8.06, Above High End of Initial Guidance\n - Deployed $8.5 Billion¹ in Capital to Share Repurchases, Dividends, Capital Expenditures, and Acquisitions in 2021\n - Expect 2022 Sales Growth of 4% - 7% Organically and Segment Margin of 21.1% - 21.5%, 21.4% - 21.8% Excluding the Impact of Quantinuum\n\n\nCHARLOTTE, N.C., Feb. 3, 2022 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced results for the fourth quarter and full year 2021 that met or exceeded the company's guidance despite an extremely challenging operating environment. The company also provided its outlook for 2022.\n\n \n \n \n \n \n \n\n \nThe company reported a fourth-quarter year-over-year sales decline of 3%, down 2% on an organic basis, due to supply-related constraints, a tough comparison versus 2020 due to lower COVID mask volumes, and six fewer days in the quarter. Demand remained strong, with orders up high-single digits. Closing backlog was $28 billion, up 7% year over year. Fourth-quarter operating margin declined 130 basis points to 17.5% and segment margin expanded 30 basis points to 21.4% as a result of the company's commercial excellence efforts. Honeywell delivered fourth-quarter adjusted earnings per share of $2.09, above the midpoint of the company's guidance. \nFor the full year, sales increased by 5%, or 4% on an organic basis, and operating margin expanded 50 basis points with segment margin expanding 60 basis points. The company reported full-year adjusted earnings per share5 of $8.06, above the high end of its initial guidance of $7.60 to $8.00.\n\"Honeywell had a strong finish to another challenging year. We remained resilient, focusing on operational excellence to deliver the commitments we made to our shareowners,\" said Darius Adamczyk, chairman and chief executive officer of Honeywell. \"Our focus on differentiated solutions drove double-digit organic sales growth in 2021 in our warehouse and workflow solutions, productivity solutions and services, business and general aviation, advanced materials, and recurring connected software businesses. Our disciplined cost management, swift pricing actions to stay ahead of the inflati...