Honeywell International Inc. (HON) Beats Earnings Estimates

Honeywell International Inc. (HON) Beats Earnings Estimates
See page for author [Public domain], via Wikimedia Commons

Honeywell International Inc. (HON) released its second quarter earnings report before opening bell this morning, posting earnings of $1.51 per share on $9.78 billion in sales. Analysts had been looking for earnings of $1.49 per share and $9.74 billion in sales, a 5% year over year decline. In the same quarter last year, Honeywell reported earnings of $1.38 per share and revenue of $10.25 billion.

Key metrics from Honeywell’s earnings report

Honeywell International Inc. management said the company saw a 3% increase in core organic sales and noted a double digit increase in earnings after being normalized for tax.

In the Aerospace division, Honeywell recorded a 5% decline in sales, which fell from $4 billion to $3.8 billion. Profits in the segment increased 2% to $777 million. The main driver of the decline was the divesture of the Friction Materials business and a negative impact from currencies in Transportation Systems. Sales in the Commercial OE business increased 6%.

Massif Capital’s Top Short Bets In The Real Asset Space [Exclisuve]

Screenshot 2022 08 10 18.57.51 1Since its founding by Will Thomson and Chip Russell in June 2016, the Massif Capital Real Asset Strategy has outperformed all of its real asset benchmarks. Since its inception, th