Honeywell International Inc. (NASDAQ:HON) stock traded lower in premarket trading Thursday after the company reported mixed third-quarter results, with adjusted earnings beating Wall Street expectations while revenue fell short of estimates.
17 consensus estimate. 007 billion consensus estimate.
Organic sales increased 7%, while short-cycle organic orders rose 8%, excluding the businesses divested during the quarter. 40, primarily reflecting a one-time gain recorded in the prior-year period.
27 per share, supported by organic sales growth, higher segment profit and lower net interest expense. CEO Vimal Kapur said organic sales growth exceeded the three-year target outlined at the company’s June Investor Day, with all three business segments contributing to the gains.
Backlog increased 7% year over year to nearly $19 billion, excluding the impact of the Warehouse and Workflow Solutions (WWS) and Productivity Solutions and Services (PSS) divestitures completed during the quarter. Honeywell Technologies Reports Growth Across All Three Segments Building Automation: Organic sales rose 8%, driven by an 11% increase in building products revenue amid strong demand for fire and security offerings.
Building solutions sales grew 4%, supported by services. Segment margin expanded 30 basis points to 27%, as higher prices and volumes offset inflation.
Process Automation and Technology: Organic sales increased 8%, led by 14% growth in project sales, particularly in liquefied natural gas and petrochemicals. Aftermarket sales rose 4%, supported by refining demand.
2%, reflecting an unfavorable project mix and the expected impact of the Johnson Matthey Catalyst Technologies acquisition. Industrial Automation: Organic sales grew 4%, driven by a 16% increase in solutions revenue, particularly in industrial measurement and utilities.
Product sales were flat, as double-digit growth in sensing was offset by delayed utility meter deployments. 4%, supported by pricing and productivity improvements.
See More: Top Value Stocks Operating Profit Jumps 79% Honeywell’s operating income surged 79% year over year, while segment profit increased 23%, supported by productivity gains, higher prices and increased volumes. 3%.
Operating cash flow fell 74% to $607 million, primarily reflecting a one-time settlement related to the Resideo termination agreement in the prior-year period. However, free cash flow increased 15% to $688 million, supported by higher operating income and lower capital spending.
Free cash flow conversion reached 95%. 69 billion in cash and cash equivalents.
41. 15 billion.
30 consensus estimate. 8 billion to $20 billion.
13 billion. 03 during premarket trading on Thursday, according to Benzinga Pro data.
