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Honeywell International, Inc. (HON)

  • Oct. 17, 2014, 9:08 AM
    • Honeywell (NYSE:HON) +3.1% premarket after reporting better than expected Q3 earnings and revenues, driven by sales gains in almost all segments and raising the lower end of its outlook for the year.
    • HON's automation and control systems business, which supplies the commercial construction industry, added 9% to $3.67B, but aerospace sales were flat at $3.9B.
    • Sales of performance materials and technologies rose 7% to $2.52B, while transportation systems sales fell 10% because of the sale of the friction materials segment this summer.
    • issues new guidance for FY 2014: Raises EPS to $5.50-$5.55 from $5.45-$5.55 vs. $5.54 analyst consensus estimate, revenues to $40.3B-$40.4B from $40.2B-$40.4B vs. $40.$B consensus, segment margin to ~17% from 16.8%-17%.
    • "Looking ahead to 2015, we’re once again planning for a slow growth macro environment but expect to continue delivering strong earnings growth," CEO Dave Cote says.
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  • Oct. 17, 2014, 7:02 AM
    • Honeywell International (NYSE:HON): Q3 EPS of $1.43 beats by $0.02.
    • Revenue of $10.11B (+4.8% Y/Y) beats by $70M.
    • Press Release
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  • Oct. 16, 2014, 5:30 PM
  • Sep. 30, 2014, 6:52 PM
    • The FAA orders Boeing (NYSE:BA) to replace pilot displays on more than 1,300 jets, including some of the newest 737 models, to prevent possible interference from Wi-Fi devices used in cockpits.
    • The final safety directive aims to ensure that essential information such as airspeed, altitude and heading does not temporarily disappear from certain instrument displays manufactured by Honeywell (NYSE:HON).
    • The new directive applies to nearly 10x the number of planes covered under an FAA proposal last fall; U.S. airlines will have five years to swap out the displays on Boeing 777 and 737 models.
  • Sep. 29, 2014, 10:21 AM
    • Tata Power's defense engineering unit has signed an agreement with Honeywell (HON -0.6%) to produce the company's TALIN (Tactical Advanced Land Inertial Navigator) navigator in India.
    • TALIN gives precision navigation for vehicles and artillery movement, even where GPS satellite guidance is limited.
    • Honeywell will license the design and hardware to assemble and build the production kits for the navigation system in India, giving a boost to New Delhi's efforts to encourage local defense manufacturing.
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  • Sep. 16, 2014, 2:47 PM
    • Honeywell (HON +0.3%) and its suppliers plan to spend $900M in coming years for research and development and to expand capacity to increase production of more environmentally friendly refrigerants, insulation materials, solvents and aerosols.
    • HON says it has spent nearly $350M so far for efforts to create products to reduce greenhouse gas emissions, reduce energy consumption and meet proposed tighter U.S. environmental regulations and plans to spend $550M more to support the new products.
    • The proposal includes a planned $300M plant at its Geismar, La., operation that was unveiled late last year, which will produce a more environmentally friendly refrigerant for automobiles and is expected to fully operational in 2016.
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  • Aug. 26, 2014, 7:19 AM
    • The lockout of 135 union employees at Honeywell's (NYSE:HON) uranium conversion plant in Illinois looks like it will extend past a month as the two sides negotiate on issues such as subcontractors, pay, healthcare benefits and work rules.
    • The plant converts uranium oxide into uranium hexafluoride, which is then enriched to be used as fuel in nuclear power plants. Honeywell is continuing to operate the plant with the remaining employees who are non-union.
    • The company says it is committed to bargaining in good faith, but is concerned about the plant's competitiveness. The facility accrued $300M in operating losses over the past 10 years and is just starting to break even.
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  • Aug. 19, 2014, 10:27 AM
    • Honeywell's (HON -0.3%) subsidiary, UOP, has been selected by BW Offshore to remove contaminants from natural gas aboard a new floating production, storage and offloading vessel off the coast of Scotland.
    • UOP is continually innovating to create lightweight, compact, chemical-free equipment that is ideal for the complex offshore gas environment," says SVP Rebecca Liebert.
    • The vessel, will be leased to Premier Oil (OTCPK:PMOIY), and will include a UOP Separex Membrane System which cleans natural gas streams by removing carbon dioxide and water vapor.
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  • Jul. 28, 2014, 10:28 AM
    • Honeywell's (HON -1.1%) BendixKing division has announced its affordable Internet system data plan aimed at general aviation aircraft.
    • The new data plan transforms the status quo of data consumption allowing owners and operators to purchase data based upon how many hours they use vs. how much data they consume. Operators will be able to purchase 50 hours of internet connectivity for $1,999.
    • "With the data plan for AeroWave 100, we eliminated the ridiculously expensive price barrier for obtaining in-flight connectivity for the light jet and turboprop market," says BendixKing President Kevin Gould. "Delivering real, usable Internet connectivity for under $40 per hour completely changes the market."
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  • Jul. 25, 2014, 9:45 AM
    • Honeywell (NYSE:HON) declares $0.45/share quarterly dividend, in line with previous.
    • Forward yield 1.87%
    • Payable Sept. 10; for shareholders of record Aug. 21; ex-div Aug. 19.
    | 1 Comment
  • Jul. 18, 2014, 8:51 AM
    • Total Honeywell (NYSE:HON) sales rose 6% Y/Y to 10.3B, bringing up operating income margin 110 bps to 15.4% from 14.3%.
    • Cash flow from operations climbed 7% Y/Y to 1.3B, with a free cash flow of $1.1B rising 5% Y/Y.
    • The company lowered its full-year sales guidance to $40.2B-$40.4B from $40.3-$40.7B, a drop of 3-4%, but increased its EPS expectations 10-12% to a full-year target of $5.45-$5.55.
    • Segment performance: Aerospace sales of $3B were flat Y/Y driven by 1% commercial sales growth and offset by a 1% decline in defense & space.
    • Automation and control solution sales were up 10% reported, 3% organic Y/Y, propelled by the favorable impact of acquisitions net of divestitures and growth in energy, safety, and security.
    • Performance materials and technologies sales rose 6% Y/Y due to UOP catalyst and gas processing growth and higher sales in advanced materials.
    • Transportation systems sales increased 8% reported, 4% organic Y/Y pushed by continued growth from new platform launches, higher global automotive production, and increased commercial vehicle demand in Europe.
    • Q2 results
    | 1 Comment
  • Jul. 18, 2014, 7:03 AM
    • Honeywell International (NYSE:HON): Q2 EPS of $1.37 beats by $0.01.
    • Revenue of $10.25B (+5.8% Y/Y) beats by $60M.
    • Press Release
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  • Jul. 17, 2014, 5:30 PM
  • Jul. 14, 2014, 10:32 AM
    • Honeywell (HON +0.7%) has completed its sale of its Friction Materials business to Federal-Mogul (FDML +0.4%) with the aim of realigning its portfolio to match the company's focused industries. The deal is valued at ~$155M.
    • "The sale of the Friction Materials business is a significant step in our effort to fully align the Honeywell portfolio around Great Positions in Good Industries," says Chairman and CEO Dave Cote.
    • The company is also repositioning its Transportation Systems business segment with its Aerospace business segment to take advantage of the engineering and technology similarities between the two.
    • The realignments will have no effect on the Company's historical consolidated financial position, results of operations, or cash flows.
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  • Jun. 16, 2014, 10:17 AM
    • Honeywell (HON +0.2%) has added the Pebble smartwatch to support its evohome smart heating system. Users can now use their Pebble smartwatch to control room-by-room heating.
    • The new app allows users to also access any of the preset evohome quick actions.
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  • Apr. 28, 2014, 10:26 AM
    • Honeywell International, Inc. (HON) declares $0.45/share quarterly dividend, in line with previous.
    • Forward yield 1.94%
    • Payable June 10; for shareholders of record May 22; ex-div May 20.
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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.