Earnings per share (excluding separation costs and favorable adjustments to U.S. tax legislation) were $2.03, up 17% Y/Y.
Sales by segment: Aerospace +10%; Home and Building Technologies +2%; Performance Materials and Technologies +3%; Safety and Productivity Solutions +11%.
Generated more than $1.8B of adjusted free cash flow, up 51% Y/Y, with conversion of 119%.
Repurchased approximately $600M inshares and increased the dividend by 10% - the ninth double-digit increase since 2010.
Revised full-year guidance to reflect strong operational performance, spinoff Garrett Motion and the upcoming spinoff of Resideo Technologies. Sales are now expected to be $41.7B-$41.8B; organic sales growth of approximately 6%; segment margin expansion of 50 to 60 basis points; adjusted earnings per share of $7.95-$8.00.
Conference call today at 8:30 a.m. EDT.
HON +3.2% premarket
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