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Honeywell International, Inc. (HON)

  • Thu, Feb. 12, 2:07 PM
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  • Fri, Jan. 23, 7:59 AM
    • Net income of $956M vs $947M in the same quarter a year ago. Earnings, adjusted for non-recurring costs, were $1.43 per share.
    • Q4 profit by segment: Aerospace -14%; Automation and Control Solutions +8%; Performance Materials +6%.
    • "In Q4, Honeywell delivered 4% organic sales growth and achieved 15% EPS growth (excluding the pension mark-to-market adjustment), exceeding the high end of our guidance range and capping off another year of terrific performance in 2014," said Honeywell CEO Dave Cote.
    • The company reaffirmed its 2015 forecast: Organic sales growth of ~4%, up 1-2% Y/Y at $40.5B-$41.1B. 2015 EPS is expected to be between $5.95-$6.15, with free cash flow of $4.2-$4.3B.
    • HON +1.5% premarket
    • Q4 results
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  • Fri, Jan. 23, 7:01 AM
    • Honeywell (NYSE:HON): Q4 EPS of $1.43 beats by $0.01.
    • Revenue of $10.26B (-1.3% Y/Y) beats by $50M.
    • Press Release
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  • Thu, Jan. 22, 5:30 PM
  • Thu, Jan. 8, 10:15 AM
    • Honeywell (HON +1.5%) will report Q4 and full-year results on Jan. 23. The conference call is scheduled to begin at 9:30 a.m. EST.
    • Consensus view is EPS of $1.42 on revenues of $10.2B.
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  • Mon, Jan. 5, 8:43 AM
    • Honeywell (NYSE:HON) HomMed is changing its corporate name to Honeywell Life Care Solutions to reflect the company's broader healthcare commitment and its objective of shaping the future of health management through digital solutions.
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  • Dec. 15, 2014, 7:33 AM
    • Honeywell (NYSE:HON) has lowered its Q4 sales forecast to $10.1B-10.2B from $10.3-10.4B, but reaffirmed its $1.37-$1.42 EPS estimate for the quarter.
    • FY14 sales are expected to be in a range of $40.1-$40.2B, down from previous guidance of $40.3B-$40.4B. FY14 EPS is still anticipated to be in a range of $5.50-$5.55.
    • The company forecasts 2015 organic sales growth of ~4%, up 1-2% Y/Y at $40.5B-$41.1B. 2015 EPS is expected to be between $5.95-$6.15, with free cash flow of $4.2-$4.3B.
    • 2015 Outlook Conference Call at 9:00 a.m. ET
    • HON +0.4% premarket
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  • Dec. 1, 2014, 5:49 PM
    • General Electric (NYSE:GE) was the day's biggest loser among the Dow 30, as J.P. Morgan analysts Stephen Tusa and Rajat Gupta include GE among among industrial companies confronted with big risks through their exposure to oil drilling.
    • "The game has changed," the analysts say in now seeing a spread in EPS growth between those that have material exposure to energy and those that do not to a range of ~800 bps; regarding GE, JPM drops oil/gas growth to -2% from +5% and power/water growth to zero from +3% on the back of distributed power weakness, which it pegs at mid-single digit declines for two years, along with the onset of a decline in gas turbines.
    • The firm also downgrades Dover (NYSE:DOV) to Underweight, reaffirms its Underweight on Rockwell Automation (NYSE:ROK), and continues to avoid Emerson Electric (NYSE:EMR), SPX Corp. (NYSE:SPW) and GE; it still likes a few with oil/gas exposure, such as Pentair (NYSE:PNR) given ongoing execution/margin potential, and Honeywell (NYSE:HON), given less direct impact and a strong balance sheet story.
  • Nov. 13, 2014, 10:13 AM
    • Honeywell (HON +0.7%) Aerospace has been selected as the production aircraft engine supplier for Textron's (TXT +0.7%) AirLand Scorpion.
    • The TFE731-40AR-3S engine was previously chosen for the development stage of the program and has now been selected for the aircraft's production phase.
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  • Nov. 10, 2014, 7:41 AM
    • Honeywell (NYSE:HON) Process Solutions will upgrade controls at two refineries run by Tupras (OTC:TUPRY) as part of a five-year service, maintenance and support contract aimed at improving operations and reducing maintenance costs.
    • The contract will improve plant performance while reducing maintenance costs for the refineries' Honeywell control systems by 15-20%.
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  • Nov. 4, 2014, 7:13 AM
    • U.S. District Judge Ann Montgomery says Honeywell (NYSE:HON) could begin penalizing workers who refuse to take medical or biometric tests, and denied the Equal Employment Opportunity Commission's request for a temporary restraining order to block the program.
    • Employees who decline to take the tests could be fined up to $4K in surcharges and increased health costs.
    • Previously: EEOC sues Honeywell over new health screening policy
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  • Oct. 31, 2014, 9:16 AM
    • Honeywell's (NYSE:HON) Board of Directors has approved a 15% increase in the company's regular annual cash dividend rate (from $1.80 to $2.07 per common share).
    • The increased regular quarterly dividend will be effective starting with the fourth quarter dividend, which was declared today and is payable on December 10, 2014.
    • HON +1.4% premarket
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  • Oct. 31, 2014, 9:03 AM
    • Honeywell (NYSE:HON) bumps of its annual dividend by 15% to $2.07, representing an annual yield of 2.16%.
    • The quarterly dividend is payable on Dec. 10, to stock holders on record of Nov. 20
    • Shares +1.4% PM.
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  • Oct. 29, 2014, 10:42 AM
    • The Equal Employment Opportunity Commission is suing Honeywell (HON +0.1%) over a health care policy that requires employees and their spouses to take medical tests or face monetary penalties.
    • The lawsuit is seeking a temporary injunction to stop the biometric testing, which can identify smoking, diabetes, high blood pressure, obesity and other health problems.
    • The EEOC claims Honeywell's new health screening policy violates the Americans with Disabilities Act and the Genetic Information Nondiscrimination Act, although the company says the screening and wellness program "are in strict compliance with both HIPAA and the Affordable Care Act's guidelines."
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  • Oct. 21, 2014, 10:51 AM
    • Honeywell (HON +2.1%) and DuPont (DD +1.4%) were sent a statement of objections by EU regulators for violating antitrust rules over a global refrigerant for car air conditioners.
    • "The cooperation they entered into in 2010...may have limited its (the refrigerant's) availability and technical development, in breach of EU antitrust rules," the European Commission said in a statement.
    • The car-coolant (R-1234yf) is the only chemical that currently meets new EU standards on greenhouse-gas emissions.
    • Responding to the claim, Thierry F.J. Vanlancker, President of DuPont Chemicals & Fluoroproducts, says "DuPont has complied at all times with applicable laws...and we plan to defend vigorously against the Commission's allegations and preliminary conclusions. We will fight this every step of the way, as it has no basis in law or fact."
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  • Oct. 20, 2014, 7:16 AM
    • Honeywell's (NYSE:HON) annual forecast of global deliveries estimates as many as 9,450 new business jets valued at about $280B between 2014 and 2024, about $30B and 200 more than predicted a year earlier when it reduced the expected number of deliveries 8% from about 10K.
    • The introduction of new models and increased buying activity among fractional jet operators are helping accelerate new deliveries, offsetting steep declines among manufacturers of smaller jets providing “reason for some cautious optimism,” says Brian Sill, Honeywell's president of business and general aviation.
    • Still, a full recovery from the global recession (which nearly halved jet deliveries from the 2008 peak of more than 1,300 aircraft) may take some time.
    • Last year, the company expected to return to the $22B in jet billings seen at the 2008 peak by 2016, but its latest forecast moves that back another year to 2017. Overall deliveries aren't expected to top 1K again annually until 2023.
    • Honeywell, which supplies business-jet manufacturers with everything from advanced avionics to jet engines, expects deliveries of between 650 and 675 new jets, basically flat over 2013’s 678 shipments. The value of those deliveries will outpace the growth in units compared with 2013's estimate, growing the market by 7%-8% to $280B from 2014 to 2024.
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Company Description
Honeywell International Inc is a technology & manufacturing company, serving customers with aerospace products & services, control, sensing and security technologies for buildings, homes and industry, turbochargers, automotive products, chemicals.