Press release
HONEYWELL DELIVERS STRONG SECOND QUARTER RESULTS AND BEATS EARNINGS GUIDANCE; UPDATES 2024 OUTLOOK
Sales of $9.6 Billion, Reported Sales Up 5%, Organic1 Sales Up 4%, Achieving the High End of Previous GuidanceEarnings Per Share of $2.36 and Adjusted
About this update from Honeywell International Inc.
[{"type":"text","content":"Sales of $9.6 Billion, Reported Sales Up 5%, Organic1 Sales Up 4%, Achieving the High End of Previous GuidanceEarnings Per Share of $2.36 and Adjusted Earnings Per Share1 of $2.49, Above High End of Previous GuidanceOrders Up 4%, Led by Strength in Our Building Automation and Energy and Sustainability Solutions BusinessesDeployed $6.4 Billion of Capital to M&A, Dividends, Share Repurchases, and Capital Expenditures, Including Closing the $5 Billion Acquisition of Access Solutions, and Announcing the $1.9 Billion Acquisition of CAES Systems Holdings and the $1.8 Billion Acquisition of Air Products' LNG BusinessCHARLOTTE, N.C., July 25, 2024 /PRNewswire/ -- Honeywell (NASDAQ: HON) today announced results for the second quarter that met or exceeded the company's guidance. The company also updated its full-year sales, segment margin2, adjusted earnings per share2,3, and cash flow guidance ranges.\n\n \n \n \n \n \n \n\n \nThe company reported second-quarter year-over-year sales growth of 5% and organic1 sales growth of 4%, led by double digit organic1 sales growth in defense and space, commercial aviation, and building solutions. Operating income grew 5% and operating margin expanded 10 basis points to 20.7%, while segment profit1 grew 4% led by Aerospace Technologies. Segment margin1 contraction of 10 basis points was above the midpoint of our guidance range. Earnings per share for the second quarter was $2.36, up 6% year over year, and adjusted earnings per share1 was $2.49, up 8% year over year, above the high end of our guidance range. Operating cash flow was $1.4 billion and free cash flow1 was $1.1 billion, approximately flat year over year.\n\"Honeywell delivered a strong second quarter, once again meeting or exceeding guidance across all metrics while maneuvering through a dynamic operating environment,\" said Vimal Kapur, chairman and chief executive officer of Honeywell. \"While Aerospace continues to lead our growth, we are seeing broader participation across our portfolio, with three of our four segments contributing positive growth for the quarter. All four segments grew sequentially in the quarter as well, giving us further confidence in our expectation of a second half organic growth acceleration.\"\nKapur continued, \"We also made significant progress in our capital deployment strategy, deploying $6.4 billion to M&A,...