Honeywell International, Inc. Earnings Cheat Sheet: Profit Rises Again
S&P 500 (NYSE:SPY) component Honeywell International, Inc. (NYSE:HON) reported its results for the second quarter. Honeywell International Inc. is a technology and manufacturing company which offers aerospace products and services, control, sensing and security technologies for buildings, homes and industry, turbochargers and automotive products.
Honeywell International Earnings Cheat Sheet for the Second Quarter
Results: Net income for the aerospace/defense products and services company rose to $810 million ($1.02 per share) vs. $468 million (73 cents per share) in the same quarter a year earlier. This marks a rise of 73.1% from the year earlier quarter.
Revenue: Rose 15% to $9.09 billion from the year earlier quarter.
Actual vs. Wall St. Expectations: HON beat the mean analyst estimate of 98 cents per share. It fell short of the average revenue estimate of $9.27 billion.
Quoting Management: “Honeywell’s strong second quarter performance reflects terrific execution and continued momentum in our key end markets, contributing to our upside performance in the first half of 2011,” said Honeywell Chairman and CEO Dave Cote. “The sales growth we’re seeing reflects our extensive innovation pipeline and increasing presence in high growth regions. We had particularly robust growth in the Aerospace commercial aftermarket, and our short-cycle businesses such as Advanced Materials, ACS Products, and Turbo Technologies continued to perform well.”
The company has now topped analyst estimates for the last four quarters. It beat the mark by 7 cents in the first quarter, by 71 cents in the fourth quarter of the last fiscal year, and by one cent in the third quarter of the last fiscal year.
Revenue has risen the past four quarters. Revenue increased 14.6% to $8.91 billion in the first quarter. The figure rose 12% in the fourth quarter of the last fiscal year from the year earlier and climbed 9% in the third quarter of the last fiscal year from the year-ago quarter.
Net income has increased 27.5% year over year on average across the last five quarters. The biggest gain came in the first, when income climbed 82.6% from the year earlier quarter.
Competitors to Watch: The Boeing Company (NYSE:BA), United Technologies Corp. (NYSE:UTX), Goodrich Corporation (NYSE:GR), Esterline Tech. Corp. (NYSE:ESL), Triumph Group, Inc. (NYSE:TGI), General Electric Company (NYSE:GE), Rockwell Collins, Inc. (NYSE:COL), HEICO Corporation (NYSE:HEI), and Lockheed Martin Corp. (NYSE:LMT).
(Source: Xignite Financials)