The earnings call presented a mixed outlook for Honeywell. While the company demonstrated strong backlog growth, successful integration of acquisitions, and significant achievements in Aerospace and Building Automation, it faced challenges with sales shortfalls, supply chain disruptions, and slow recovery in Industrial Automation. The strategic partnership with Google Cloud and robust cash flow performance were notable positives, but were tempered by revised guidance and market uncertainties.

Company Guidance

During the Honeywell third quarter 2024 earnings call, the company provided guidance for the fourth quarter and an update on the full year. Honeywell expects full-year sales to range between $38.6 billion and $38.8 billion, reflecting organic growth of 3% to 4%, which is a downgrade from the previous estimate of 5% to 6%. The company also revised its adjusted earnings per share (EPS) guidance to be between $10.15 and $10.25, indicating a 7% to 8% increase year-over-year. For the fourth quarter, Honeywell projects sales between $10.2 billion and $10.4 billion, with organic growth of 2% to 4%, supported by continued strength in Aerospace and Building Automation. Segment margins for the full year are anticipated to be between 23.4% and 23.5%, with the fourth quarter expected to deliver margins of 23.8% to 24.2%. Despite some challenges, particularly in Industrial Automation, Honeywell remains optimistic about its growth prospects, bolstered by a record backlog and strategic acquisitions contributing approximately $800 million in sales for 2024.

Record Backlog Growth

Honeywell achieved a record backlog of $34 billion, with organic growth of 6% year-over-year, demonstrating strong demand across segments.

Successful Acquisitions

The company closed 4 acquisitions in 2024, deploying over $9 billion in capital, enhancing capabilities in automation, aerospace, and energy transition.

Building Automation Growth

Building Automation segment sales grew 14% year-over-year, with organic growth of 3%, driven by strong demand in data centers, healthcare, and energy.

Aerospace Technologies Performance

Aerospace Technologies saw 10% organic sales growth year-over-year, supported by defense and space, and commercial aviation original equipment.

Order Strength and Cash Flow

Orders grew 2% organically with a book-to-bill of 1.1, and free cash flow increased by 10% year-over-year to $1.7 billion.

Strategic Partnership with Google Cloud

Honeywell announced a partnership with Google Cloud to leverage AI and enhance customer transition from automation to autonomous operations.

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Honeywell International (DE:ALD) Earnings, Revenues Date & History

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DE:ALD Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jan 30, 2025	2024 (Q4)	2.36 / -	2.499	―	―	―
Oct 24, 2024	2024 (Q3)	2.41 / 2.48	2.182	13.66% (+0.30)
Jul 25, 2024	2024 (Q2)	2.32 / 2.39	2.143	11.66% (+0.25)
Apr 25, 2024	2024 (Q1)	2.09 / 2.16	1.989	8.70% (+0.17)
Feb 01, 2024	2023 (Q4)	2.49 / 2.50	2.422	3.17% (+0.08)
Oct 26, 2023	2023 (Q3)	2.14 / 2.18	2.162	0.89% (+0.02)
Jul 27, 2023	2023 (Q2)	2.12 / 2.14	2.018	6.19% (+0.12)
Apr 27, 2023	2023 (Q1)	1.85 / 1.99	1.836	8.38% (+0.15)
Feb 02, 2023	2022 (Q4)	2.41 / 2.42	2.009	20.57% (+0.41)
Oct 27, 2022	2022 (Q3)	2.07 / 2.16	1.941	11.39% (+0.22)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:ALD Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Oct 24, 2024	€204.55	€195.62	-4.36%
Jul 25, 2024	€195.94	€185.37	-5.39%
Apr 25, 2024	€179.04	€180.40	+0.76%
Feb 01, 2024	€183.78	€175.50	-4.51%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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