Q3 2024 Honeywell International Inc Earnings Call Transcript
Key Points
- Honeywell International Inc (HON) exceeded the high end of its adjusted earnings per share and segment margin guidance ranges for the third quarter.
- The company reported a record $1 billion in orders for its UOP segment, highlighting strong demand for its technology and sustainability offerings.
- Honeywell's aerospace technologies segment achieved its ninth consecutive quarter of double-digit growth, driven by strong performance in defense and space.
- The company is making progress with its Accelerator operating system, which is enhancing top-line growth and expanding margins.
- Honeywell has successfully closed four acquisitions in 2024, deploying over $9 billion in capital to bolster its capabilities across automation, aerospace, and energy transition.
- Sales for the third quarter came in below Honeywell's guidance range, primarily due to underperformance in industrial automation and discrete supply chain disruptions.
- Organic growth of 3% in the quarter was below expectations, with some project-led businesses experiencing near-term delays.
- The company has revised its full-year sales guidance downward, reflecting a slower recovery in industrial automation and tempered expectations in aerospace and energy markets.
- Free cash flow guidance has been reduced due to lower progress in inventory management and slowing payment cycles in certain high-growth regions.
- The decision to exit the personal protective equipment business resulted in a charge for the quarter, impacting overall financial performance.
Thank you for standing by, and welcome to the Honeywell third-quarter 2024 earnings conference call. (Operator Instructions) Please be advised that today's call is being recorded.
I would now like to hand the call over to Sean Meakim, Vice President of Investor Relations. Please go ahead.
Thank you. Good morning, and welcome to Honeywell's third-quarter 2024 earnings conference call. On the call with me today are Chairman and Chief Executive Officer, Vimal Kapur; Senior Vice President and Chief Financial Officer, Greg Lewis; and Vice President of Corporate Finance, Mike Stepniak.
This webcast and the presentation materials, including non-GAAP reconciliations, are available on our Investor Relations website. From time to time, we post new information that may be of interest or material to our investors on this website.
Our discussion today includes forward-looking statements that are based on our best view of the world and of our businesses as we see them
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
