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Dec 31, 2022
Honeywell Q4 2022 Earnings Report
Delivered strong fourth quarter results, with full year segment margin and earnings above high end of initial guidance despite significant headwinds.
Key Takeaways
Honeywell announced Q4 2022 results with a 6% increase in sales and a 10% organic sales growth. The company reported EPS of $1.51 and adjusted EPS of $2.52. Honeywell's backlog reached $29.6 billion, up 7% year over year.
Fourth Quarter Sales of $9.2 Billion, Reported Sales Up 6%, Organic Sales Up 10%
Fourth Quarter Earnings Per Share of $1.51 and Adjusted Earnings Per Share of $2.52, Above Midpoint of Previous Guidance
Full Year Operating Cash Flow of $5.3 Billion and Free Cash Flow of $4.9 Billion, at Midpoint of Previous Guidance
Deployed $7.9 Billion of Capital to Share Repurchases, Dividends, Capital Expenditures, and M&A in 2022, Exceeded Commitment of $4.0 Billion in Share Repurchases
Honeywell
Honeywell
Honeywell Revenue by Segment
Revenue by Segment
Aerospace Revenue
CapyFin.com Forward Guidance
The company expects sales of $36.0 billion to $37.0 billion, representing year-over-year organic growth of 2% to 5%; segment margin expansion of 50 to 90 basis points; adjusted earnings per share of $8.80 to $9.20, flat to up 5% despite an approximately $0.55 non-cash pension headwind; operating cash flow of $4.9 billion to $5.3 billion, and free cash flow of $3.9 billion to $4.3 billion, or $5.1 billion to $5.5 billion excluding the net impact of settlements signed in the fourth quarter of 2022.
Positive Outlook
- Sales of $36.0B - $37.0B
- Organic Growth 2% - 5%
- Segment Margin 22.2% - 22.6%
- Expansion Up 50 - 90 bps
- Adjusted Earnings Per Share $8.80 - $9.20
Challenges Ahead
- Adjusted Earnings Growth 0% - 5%
- Adjusted Earnings Per Share Excluding Pension Headwind $9.35 - $9.75
- Adjusted Earnings Growth Excluding Pension Headwind 7% - 11%
- Operating Cash Flow $4.9B - $5.3B
- Free Cash Flow $3.9B - $4.3B