You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks. Long-term debt was $17,600 million, higher than $15,123 million at 2022-end. Balance Sheet/Cash FlowĮxiting the second quarter, Honeywell, carrying a Zacks Rank #2 (Buy), had cash and cash equivalents of $8,626 million compared with $9,627 million at the end of December 2022. The operating income margin was 20.6% compared with 17.9% in the year-ago period. Operating income in the second quarter was $1,883 million, up 17.6% year over year. Interest expenses and other financial charges were $187 million compared with $87 million a year ago. Selling, general and administrative expenses were $1,262 million, down 3.4%. The company’s total cost of sales (cost of products and services) in the reported quarter was $5,626 million, down nearly 1% year over year. We expected growth in the aftermarket services business to have helped the unit hold better. Our estimate for the segment’s revenues was $1,557.9 million. Safety and Productivity Solutions revenues decreased 22% to $1,433 million due to lower volumes in productivity solutions and services and warehouse and workflow solutions. Segmental revenues were driven by strong organic growth in the UOP business, strength in projects and lifecycle solutions and services, and robust demand for fluorine products. Our estimate for Performance Materials and Technologies revenues in the second quarter was $2,819 million. Performance Materials and Technologies’ revenues totaled $2,861 million, up 6% year over year. Our estimate for segmental revenues was pegged higher at $1,576 million as we expected institutional demand in airports, healthcare and education to have boosted the unit’s performance. Honeywell Building Technologies’ revenues dipped 1% to $1,510 million due to a decline in building products sales as a result of softer volumes in security and building management systems. price-consensus-eps-surprise-chart | Honeywell International Inc. Any forward-looking plans described herein are not final and may be modified or abandoned at any time.Honeywell International Inc. These forward-looking statements should be considered in light of the information included in this release, our Form 10-K and other filings with the Securities and Exchange Commission. In addition, no assurance can be given that any plan, initiative, projection, goal, commitment, expectation, or prospect set forth in this release can or will be achieved. Our forward-looking statements are also subject to material risks and uncertainties that can affect our performance in both the near- and long-term. We do not undertake to update or revise any of our forward-looking statements, except as required by applicable securities law. They are not guarantees of future performance, and actual results, developments and business decisions may differ significantly from those envisaged by our forward-looking statements. They are based on management's assumptions and assessments in light of past experience and trends, current economic and industry conditions, expected future developments and other relevant factors. Forward-looking statements are those that address activities, events, or developments that management intends, expects, projects, believes or anticipates will or may occur in the future. Such discussions contain forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the Exchange Act). We describe many of the trends and other factors that drive our business and future results in this release.
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