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Jun 30, 2020
Honeywell Q2 2020 Earnings Report
Honeywell's Q2 2020 earnings were significantly impacted by the COVID-19 pandemic and oil price volatility.
Key Takeaways
Honeywell reported a challenging second quarter due to the COVID-19 pandemic and oil price volatility, with sales down 19% and adjusted earnings per share of $1.26. The company focused on cost management, sales growth in strong demand areas, and investments in new technologies. They delivered $500 million in cost savings and funded over $250 million of repositioning. Honeywell also issued $3 billion of bonds and reduced their term loan from $6 billion to $3 billion, ending the quarter with $15.1 billion in cash and short-term investments.
Delivered $500 million of cost savings in the quarter and funded over $250 million of repositioning to drive further savings.
Generated $1.5 billion of operating cash flow and $1.3 billion of free cash flow, with an adjusted conversion of 140%.
Reported record high orders and backlog in Safety and Productivity Solutions driven by triple-digit growth in Intelligrated and Personal Protective Equipment.
Launched numerous innovative healthy offerings to address COVID-19-related customer needs.
Revenue by Segment
Forward Guidance
Due to the evolving nature of the COVID-19 pandemic and related supply chain and market disruptions, Honeywell previously announced that it has suspended providing full financial guidance until the economic impact of COVID-19 stabilizes. The company expects ongoing top-line challenges due to the current market conditions, particularly in the aerospace and oil and gas sectors.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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