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Dec 31, 2024
Honeywell Q4 2024 Earnings Report
Announced fourth quarter and full year 2024 results and issued 2025 guidance.
Key Takeaways
Honeywell reported a 7% increase in fourth-quarter sales to $10.1 billion, with organic sales up 2%, exceeding previous guidance. Earnings per share were $1.96, and adjusted earnings per share was $2.47, also exceeding guidance. The company's backlog grew 11% to a record $35.3 billion.
Fourth Quarter Sales of $10.1 Billion, Reported Sales Up 7%, Organic Sales Up 2%, Exceeding Previous Guidance
Fourth Quarter Earnings Per Share of $1.96 and Adjusted Earnings Per Share of $2.47, Exceeding Previous Guidance
Full Year Operating Cash Flow of $6.1 Billion and Free Cash Flow of $4.9 Billion, at High End of Previous Guidance
Deployed a Record $14.6 Billion of Capital in 2024, Including $8.9 Billion to Acquisitions
Honeywell
Honeywell
Honeywell Revenue by Segment
Revenue by Segment
Industrial Automation Revenue
CapyFin.comBuilding Automation Revenue
CapyFin.comEnergy & Sustainability Revenue
CapyFin.com Forward Guidance
The company expects sales of $39.6 billion to $40.6 billion with organic sales growth in the range of 2% to 5%. Segment margin is expected to be in the range of 23.2% to 23.6%, with segment margin expansion of 60 to 100 basis points. Adjusted earnings per share is expected to be in the range of $10.10 to $10.50, up 2% to 6%.
Positive Outlook
- Sales of $39.6B - $40.6B
- Organic Growth 2% - 5%
- Segment Margin 23.2% - 23.6%
- Expansion Up 60 - 100 bps
- Adjusted Earnings Per Share $10.10 - $10.50
Challenges Ahead
- Guidance assumes a mid-year close of the previously announced sale of the company's Personal Protective Equipment business.
- Excluding the impact of the Bombardier agreement, the company expects organic sales growth of 1% to 4%.
- Excluding the impact of the Bombardier agreement, the company expects segment margin down 10 to up 30 basis points year over year.
- Excluding the impact of the Bombardier agreement, the company expects adjusted earnings per share down 2% to up 2% year over year.
- Pension mark-to-market expense is dependent on macroeconomic factors, such as interest rates and the return generated on invested pension plan assets.
Revenue & Expenses
Visualization of income flow from segment revenue to net income