What To Expect From Honeywell’s (HON) Q1 Earnings
Industrial conglomerate Honeywell (NASDAQ:HON) will be reporting earnings this Thursday morning. Here’s what you need to know.
Honeywell beat analysts’ revenue expectations last quarter, reporting revenues of $10.07 billion, up 9.8% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ adjusted operating income estimates and a solid beat of analysts’ organic revenue estimates.
Is Honeywell a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Honeywell’s revenue to grow 3.9% year on year, slowing from the 9.4% increase it recorded in the same quarter last year.
Heading into earnings, analysts covering the company have grown increasingly bearish with revenue estimates seeing in majority downward revisions over the last 30 days.
Looking at Honeywell’s peers in the industrial machinery segment, some have already reported their Q1 results, giving us a hint as to what we can expect. GE Aerospace delivered year-on-year revenue growth of 29%, beating analysts’ expectations by 8.3%, and 3M reported revenues up 3.9%, in line with consensus estimates.
Read our full analysis of GE Aerospace’s results here and 3M’s results here.
There has been positive sentiment among investors in the industrial machinery segment, with share prices up 11.2% on average over the last month. Honeywell’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $251.50 (compared to the current share price of $222.87).
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