Earnings Preview: Honeywell International

| About: Honeywell International, (HON)

Honeywell International (NYSE:HON) is expected to report Q2 earnings before the market open on Wednesday, July 18 with a conference call scheduled for 9:00 am ET.


Analysts are looking for EPS of $1.12 on revenue of $9.56B. The consensus range is $1.09-$1.14 for EPS, and $9.4B-$9.69B for revenue, according to First Call. The company reported positive results in Q1, beating both EPS and revenue estimates. On its Q1 earnings report, the company raised FY12 adjusted EPS guidance to $4.35-$4.55 from $4.25-$4.50, consensus $4.44. However, it narrowed its FY12 revenue view to $38B-$38.6B from prior $37.8B-$38.9B, consensus $38.53B. Management noted that Q1 performance benefited from higher than expected organic sales, but Europe still remained soft. It expected the Aerospace commercial aftermarket to moderate in 2H12, with Defense and Space down 6%-8%. CEO David Cote further revised FY12 revenue guidance on May 31, saying he expected "revenue of about $38B," consensus $38.58B. He also noted that the appetite for acquisitions remained "very, very high." Shares of Honeywell have traded modestly lower since Q1 results were released, moving from around $60 to a recent $54.00. Concerns about the situation in Europe have likely dampened any gains.

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