Honeywell Q2 Earnings And Revenues Beat Estimates

Global diversified technology and manufacturing firm Honeywell International Inc. (HON – Free Report) has a balanced mix of long and short-cycle businesses. With a flexible yet disciplined focus on cost and productivity, HON remains focused on increasing its presence in high-growth regions.

However, despite HON’s proactive restructuring initiatives, it is yet to witness signs of stabilization in a number of its major end markets. As the extent of competition is increasing over time, investors have been eagerly waiting for the company’s latest earnings report. In the last four trailing quarters, HON has reported a positive average earnings surprise of 2.02%, beating the earnings estimates thrice.

Currently, HON has a Zacks Rank #2 (Buy), but that could definitely change following the second-quarter earnings report which was just released. You can see the complete list of today’s Zacks #1 Rank stocks here.

We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: Earnings beat. The company’s reported adjusted EPS of $1.80 per share, which beat the Zacks Consensus Estimate of $1.78.

Honeywell International Inc. Price and EPS Surprise

Honeywell International Inc. Price and EPS Surprise | Honeywell International Inc. Quote

Revenue: Revenues beat. HON posted revenues of $10,078 million, higher than the Zacks Consensus Estimate of $9,835 million.

Key Stats to Note: HON raised its revenue and earnings guidance for 2017. Revenues are expected in the range $39.3?$40 million (earlier expectation was $38.6–$39.5 million), while earnings per share is currently expected in the range of $7.00?$7.10 (from $6.90–$7.10).

Stock Price: The share prices remained relatively flat in the pre-market trading session as investors probably expected a healthier beat.