The 10-second takeaway
For the quarter ended March 31 (Q1), Honeywell International met expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue was unchanged. GAAP earnings per share expanded significantly.
Margins expanded across the board.
Honeywell International reported revenue of $9.33 billion. The 21 analysts polled by S&P Capital IQ hoped for revenue of $9.44 billion on the same basis. GAAP reported sales were the same as the prior-year quarter's.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $1.21. The 20 earnings estimates compiled by S&P Capital IQ predicted $1.14 per share. GAAP EPS of $1.21 for Q1 were 16% higher than the prior-year quarter's $1.04 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 27.3%, 120 basis points better than the prior-year quarter. Operating margin was 14.4%, 150 basis points better than the prior-year quarter. Net margin was 10.4%, 160 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $9.75 billion. On the bottom line, the average EPS estimate is $1.22.
Next year's average estimate for revenue is $39.29 billion. The average EPS estimate is $4.95.
The stock has a five-star rating (out of five) at Motley Fool CAPS, with 1,237 members out of 1,307 rating the stock outperform, and 70 members rating it underperform. Among 348 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 337 give Honeywell International a green thumbs-up, and 11 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Honeywell International is outperform, with an average price target of $78.17.
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