Honeywell Raises Guidance a Notch After 2Q Earnings Beat

18 Jul 2019

Honeywell Raises Guidance a Notch After 2Q Earnings Beat

Honeywell (NYSE:HON) raised its full-year outlook for profits and organic sales growth on Thursday, after reporting second-quarter earnings that beat analysts' expectations.

The firm reported earnings per share of $2.1 on revenue of $9.24B, with the group's U.S. and international defense and space divisions growing particularly strongly.

Analysts polled by expected EPS of $2.08 on revenue of $9.35B. That compared to EPS of $2.12 on revenue of $10.92B in the same period a year earlier. The company had reported EPS of $1.92 on revenue of $8.88B in the previous quarter.

“We are making significant progress in transforming Honeywell into a premier software-industrial company, with connected software sales continuing to grow at a double-digit rate organically,” said CEO and chairman Darius Adamczyk.

The company bumped up its EPS guidance by 5c to a range of $7.95 to $8.15. It now expects organic sales to grow by between 4% and 6% this year, up from a prior estimate of 3% to 6%. Honeywell follows other major Capital Goods sector earnings this month

On Wednesday, ASML ADR reported second quarter EPS of $1.27 on revenue of $2.88B, compared to forecasts of EPS of $1.08 on revenue of $2.9B.

Fastenal earnings missed analysts' expectations on July 11, with second quarter EPS of $0.36 on revenue of $1.37B. analysts expected EPS of $0.37 on revenue of $1.38B

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