Q2 2024 Honeywell International Inc Earnings Call Transcript
Key Points
- Honeywell International Inc (HON) exceeded the high end of its adjusted earnings per share guidance and achieved the high end of its organic sales guidance ranges.
- Three out of four strategic business groups contributed positive growth for the quarter, with sequential improvement in growth rate from all four.
- Order rates were healthy across Honeywell International Inc (HON), supporting expectations of further organic growth acceleration into the back half of the year.
- Honeywell International Inc (HON) is adding attractive new assets to its technology portfolio, which will enable further value creation for customers and shareholders.
- The company made significant progress on its capital deployment strategy, allocating $6.4 billion to M&A, dividends, share repurchases, and capital expenditures.
- Short-cycle businesses are showing varying signs of sequential progress, with some not accelerating as much as hoped.
- Segment margin contracted by 10 basis points to 23%, with mix pressures in three out of four business groups.
- The company is facing mix headwinds within its businesses, particularly in aerospace and building automation, leading to margin contraction.
- Honeywell International Inc (HON) expects overall segment margin to be flat to down 20 basis points year over year, indicating potential profitability challenges.
- The integration of recent acquisitions is expected to incur meaningful costs in the short term, impacting overall profitability.
Thank you for standing by, and welcome to the Honeywell second 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, sir.
Thank you. Good morning, and welcome to Honeywell's second quarter 2024 earnings conference call. On the call with me today are Chairman and Chief Executive Officer, Vimal Kapur; and Senior Vice President and Chief Financial Officer, Greg Lewis.
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 today and are subject to risks and
| 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
