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Dec 31, 2019
Honeywell Q4 2019 Earnings Report
Honeywell's Q4 2019 performance reflected organic sales growth, segment margin expansion, and strong cash generation.
Key Takeaways
Honeywell announced strong Q4 2019 results with organic sales up 2% and adjusted EPS of $2.06, up 11% ex-spins. The company expanded operating margin by 220 basis points and segment margin by 130 basis points. They generated over $2 billion in cash during the quarter and expect 2020 earnings per share of $8.60 - $9.00.
Organic sales increased by 2% due to aerospace strength and building management products demand.
Adjusted EPS reached $2.06, an 11% increase excluding spin-offs.
Segment margin expanded by 130 basis points.
Intelligrated orders increased by over 100% year-over-year.
Revenue by Segment
Forward Guidance
Honeywell expects sales of $36.7 billion to $37.8 billion, representing year-over-year organic growth of 0% to 3%; segment margin expansion of 20 to 50 basis points; earnings per share of $8.60 to $9.00, up 5% to 10% adjusted; operating cash flow of $6.6 billion to $7.1 billion, and free cash flow of $5.7 billion to $6.2 billion.
Positive Outlook
- Sales of $36.7B - $37.8B
- Organic Growth 0% - 3%
- Segment Margin 21.3% - 21.6%
- Expansion Up 20 - 50 bps
- Earnings Per Share $8.60 - $9.00
Historical Earnings Impact
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Avg. Return Before/After Earnings
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