Honeywell Q1 2024 Earnings Report
Key Takeaways
Honeywell reported a strong start to 2024 with sales of $9.1 billion, up 3% year-over-year. The company's backlog increased by 6% to $32.0 billion, and earnings per share reached $2.23, while adjusted earnings per share was $2.25, exceeding previous guidance.
Sales of $9.1 billion, reported and organic sales up 3%.
Operating margin up 130 basis points to 20.4%; segment margin up 20 basis points to 22.2%.
Earnings per share of $2.23 and adjusted earnings per share of $2.25, above high end of previous guidance.
Backlog up 6% year over year to $32.0 billion on $10.2 billion in orders.
Honeywell
Honeywell
Forward Guidance
Honeywell maintained its full-year sales, segment margin, adjusted earnings per share, and cash flow guidance. Full-year sales are expected to be $38.1 billion to $38.9 billion, with organic sales growth in the range of 4% to 6%.
Positive Outlook
- Full-year sales are expected to be $38.1B - $38.9B.
- Organic growth 4% - 6%.
- Segment Margin 23.0% - 23.3%.
- Segment Margin Expansion Up 30 - 60 bps.
- Adjusted Earnings Per Share $9.80 - $10.10.