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Honeywell International, Inc. (HON)

  • Apr. 17, 2014, 7:34 AM
    • Honeywell International (HON): Q1 EPS of $1.28
    • Revenue of $9.67B (+3.6% Y/Y) misses by $70M.
    • Press Release
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  • Apr. 17, 2014, 12:05 AM
  • Apr. 16, 2014, 5:30 PM
  • Apr. 7, 2014, 10:24 AM
    • Honeywell (HON -0.4%) CFO Dave Anderson is retiring after a decade at the company and will be replaced by Tom Szlosek, who was previously VP of Corporate Finance.
    • The move is part of a reshuffle of Honeywell's leadership, with senior execs Andreas Kramvis and Roger Fradin being promoted to the newly created positions of Vice Chairmen. Kramvis was the head of the company's Performance Materials & Technologies (PMT) division, while Fradin ran Automation & Control Solutions (ACS).
    • Honeywell is also moving its Process Solutions operations from ACS to PMT, which includes UOP and Advanced Materials as well.
    • ACS will comprise Honeywell Building Solutions and Energy, Safety & Security. (PR)
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  • Mar. 5, 2014, 7:44 AM
    • Honeywell (HON +2.5%) wants to increase annual revenues to $50B by 2018 from $39.1B last year.
    • Ahead of its annual investor day today, the company said it plans to spend $10B on acquisitions that would bring in $5-8B in sales; excluding any deals, the firm expects revenues to increase by $7-12B.
    • Honeywell also forecasts that earnings will grow at a double-digit pace in percentage terms over the next few years, and it aims to increase segment profit margins by 18.5-20% from 16.3% in 2012. (PR)
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  • Mar. 4, 2014, 3:58 PM
    • Honeywell (HON +1.1%) and DuPont (DD +1.9%) reportedly face a European Union complaint for violating antitrust rules over the only car coolant chemical that currently meets new EU standards on greenhouse gas emissions.
    • It’s a new twist in a long-running saga over the HFO-1234yf chemical, which is expected to be a cash cow for the two companies, as it replaces ozone-depleting alternatives that can’t be included in new vehicles sold in the EU starting in 2017.
    • The new chemical is considered more expensive than its predecessor, and "with patent-protected supply plus a more expensive manufacturing process, a price premium will exist for some time,” an analyst says.
  • Feb. 13, 2014, 3:41 PM
    • Honeywell International, Inc. (HON) declares $0.45/share quarterly dividend, in line with previous.
    • Forward yield 1.91%
    • Payable March 10; for shareholders of record Feb. 27; ex-div Feb. 25.
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  • Jan. 24, 2014, 7:41 AM
    • Honeywell (HON) net profit soars to $947M from $251M last year; from the earnings table, the increase appears to be due to a rise of over $800M in sales and to lower costs.
    • Order backlog $15.5B
    • "While we think it's prudent to remain cautious on the global economy at this time," says CEO Dave Cote, "we're increasingly confident in our 2014 outlook based on the momentum from the fourth quarter."
    • The company reaffirms its 2014 guidance for EPS of $5.35-5.55, up 8-12% on 2013 and vs consensus of $5.54; and for sales of $40.3-40.7B, up 3-4% and vs $40.85B. (PR)
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  • Jan. 24, 2014, 7:03 AM
    • Honeywell International, Inc. (HON): Q4 EPS of $1.24 beats by $0.02.
    • Revenue of $10.38B (+8.4% Y/Y) beats by $190M.
    • Press Release
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  • Jan. 24, 2014, 12:05 AM
  • Jan. 23, 2014, 5:30 PM
  • Jan. 14, 2014, 2:24 AM
    • House and Senate negotiators have agreed on how to allocate $1.01T in funding through Sept. 30 following Congressional approval of the budget guidelines in December.
    • The 1,582-page deal eases some automatic spending reductions by providing an additional $45B for military and domestic discretionary programs. Non-war spending will be $520.5B, with the armed force being able to avoid $22B in cuts.
    • The conflict in Afghanistan will receive $85.2B.
    • However, there's no increase in funding for Obamacare, while $63B in financing for the IMF was again delayed.
    • The bill prohibits the Postal Service from eliminating mail delivery on Saturday or shutting rural post offices.
    • GOP and Democrat leaders are confident that the bill will pass the House and the Senate.
    • Defense tickers: BA, LMT, GD, NOC, HON, BAESY, RTN, COL, HRS
  • Jan. 13, 2014, 9:11 AM
    • Honeywell (HON) is being investigated by the Justice Department for export and import procedures after using Chinese-made parts in equipment for F-35 fighter jets, Reuters reports.
    • The Defense Department reportedly had issued waivers for U.S. laws prohibiting Chinese-built parts being used in U.S. weapons in 2012 and 2013 after HON had moved a production line for thermal sensors to China.
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  • Jan. 7, 2014, 9:15 AM
    • Honeywell (HON) agrees to sell its friction materials business unit, including two plants in China and Romania, to Federal-Mogul's (FDML) European business for ~ $155M.
    • HON says the business doesn't fit with its differentiated technologies focus and long-term growth plans; it expects the deal to generate an after tax loss of ~$0.04/share, which will be recognized in Q4 2013, but the loss is not expected to affect its Q4 or FY 2014 financial outlook.
    • FDML says it expects to combine the two brake businesses to realize significant synergies in all elements of its business.
    | 1 Comment
  • Dec. 18, 2013, 3:40 PM
    • Citi reiterates a Buy rating on Honeywell (HON +2.2%) following the company's guidance update.
    • They "stuck with [the] under-promise, over-deliver playbook setting what we see as a conservative initial 2014 outlook," analyst Deane Dray says, adding that "management's expectations for 3-4% organic revenue growth does not reflect any improvement in the macro environment despite recent upticks in leading indicators."
    • 2014 EPS estimates raised by $0.10 to $5.55.
    • Price target lifted to $99 from $97.
    | 1 Comment
  • Dec. 17, 2013, 3:32 PM
    • Shares of Honeywell (HON -0.9%) look set to close the session lower after the company issued 2014 guidance and reaffirmed its outlook for 2013.
    • HON sees EPS of $5.35-5.55 on sales of $40.3-40.7B next year, versus consensus of $5.55/share on $41.1B in sales.
    • The company continues to expect EPS of $4.90-4.95 on sales of $38.8-39B this year (largely in-line with consensus).
    • Here's CEO Dave Cote commenting: "Next year, we will complete our first five year plan and our 2014 outlook is reflective of the company being on track to achieve the long-term targets that were set in 2010." (PR)
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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.