Honeywell's Mixed Q3: EPS Beats, Misses On Sales, And Lowers FY24 Revenue Outlook

Honeywell International Inc. (NASDAQ:HON) shares are trading lower after the company reported third-quarter results and updated FY24 guidance.

Revenue grew 6% year-over-year (organic: +3%) to $9.728 billion, missing the consensus of $9.901 billion.

The sales increase was attributed to strong growth in defense and space, commercial aviation, and building solutions.

Adjusted EPS was $2.58 (+8% Y/Y), beating the consensus of $2.50.

Sales by Segments: Aerospace Technologies $3.912 billion (+12% Y/Y), Industrial Automation $2.50 billion (-5% Y/Y), Building Automation $1.75 billion (+14% Y/Y) and Energy and Sustainability Solutions $1.56 billion (+1% Y/Y).

Operating margin contracted by 180 bps Y/Y to 19.1%, and Segment margin remained flat Y/Y at 23.6% in the quarter.

Operating cash flow stood at $2.00 billion and, free cash flow was $1.72 billion. Honeywell held cash and equivalents of about $10.6 ...