Honeywell Technologies reported its first quarterly results as a standalone automation company, with revenue of $5.19 billion and adjusted earnings of $1.95 per share, both exceeding analyst expectations. The stock rose more than 5% on the news. Total revenue including a residual aerospace contribution was $9.72 billion, while adjusted earnings per share on that basis fell 4% to $4.52. Management raised full-year organic growth guidance to 3–4%, segment margin guidance to 20.1–20.5%, and adjusted earnings growth guidance to 25–29%, though dollar sales guidance was trimmed to $19.8–20.0 billion due to faster-than-planned divestitures. Orders for the standalone business grew 16% and backlog reached about $20 billion, with Building Automation organic sales up 9% and Process Automation orders surging 24%.
Honeywell International IncHoneywell International's spin-off Honeywell Technologies reported earnings beat and raised guidance, driving stock up 5%.
Honeywell Aerospace Inc