Business
HONEYWELL DELIVERS STRONG FOURTH QUARTER RESULTS, FULL YEAR SEGMENT MARGIN AND EARNINGS ABOVE HIGH END OF INITIAL GUIDANCE DESPITE SIGNIFICANT HEADWINDS; ISSUES 2023 GUIDANCE
Fourth Quarter Sales of $9.2 Billion, Reported Sales Up 6%, Organic1 Sales Up 10%Fourth Quarter Earnings Per Share of $1.51 and Adjusted Earnings Per Share1
About this update from Honeywell International Inc.
[{"type":"text","content":"Fourth Quarter Sales of $9.2 Billion, Reported Sales Up 6%, Organic1 Sales Up 10%Fourth Quarter Earnings Per Share of $1.51 and Adjusted Earnings Per Share1 of $2.52, Above Midpoint of Previous GuidanceFull Year Operating Cash Flow of $5.3 Billion and Free Cash Flow1 of $4.9 Billion, at Midpoint of Previous Guidance Deployed $7.9 Billion of Capital to Share Repurchases, Dividends, Capital Expenditures, and M&A in 2022, Exceeded Commitment of $4.0 Billion in Share RepurchasesExpect 2023 Adjusted Earnings Per Share of $8.80 - $9.20, Up 0% - 5% Adjusted2,3, or Up 7% - 11% Excluding Pension HeadwindCHARLOTTE, N.C., Feb. 2, 2023 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced results for the fourth quarter and full year 2022 that met or exceeded the company's original guidance despite a challenging operating environment. The company also provided its outlook for 2023.\n\n \n \n \n \n \n \n\n \nThe company reported fourth-quarter year-over-year sales growth of 6% and organic1 sales growth of 10%, or 11% excluding the impact of the wind down in operations in Russia4, with another quarter of double-digit organic sales growth in Honeywell Building Technologies, Performance Materials and Technologies, and Aerospace. Demand remained strong, with closing backlog5 of $29.6 billion, up 7% year over year. Fourth-quarter operating margin expanded 220 basis points to 19.7%, or 240 basis points excluding the year-over-year impact of Quantinuum. Segment margin1 expanded 150 basis points to 22.9%, or 180 basis points excluding the year-over-year impact of Quantinuum1, led by another strong quarter of margin expansion in Safety and Productivity Solutions and Honeywell Building Technologies. Honeywell delivered fourth-quarter earnings per share of $1.51, down 26% year over year, and adjusted earnings per share1 of $2.52, up 21% year over year. Operating cash flow was $2.4 billion with operating cash flow margin of 25.8%, and free cash flow1 was $2.1 billion with free cash flow margin1 of 23.1%, driven by strong net income and reduced working capital quarter over quarter.\nFor the full year, sales increased by 3%, or 6% on an organic1 basis, and operating margin expanded 10 basis points, with segment margin1 expanding 70 basis points. Honeywell reported full-year earnings per share of $7.27 and adjusted earnings per share1 of $8.76, above the ...