Honeywell Reports Double-Digit Q3 Orders Growth, Bolsters Record High Backlog
Portfolio Pulse from Akanksha Bakshi
Honeywell International Inc (NASDAQ:HON) reported Q3 FY23 sales of $9.21 billion, up 3% Y/Y, but missed the consensus of $9.23 billion. The sales increase was attributed to growth in commercial aviation, defense and space, and process solutions. Adjusted EPS was $2.27, beating the consensus of $2.23. The company reported a significant increase in order volumes in Q3, leading to a historically high backlog. Honeywell expects sales of $9.6 billion-$9.9 billion for 4Q23. For FY23, Honeywell now expects sales of $36.8 billion - $37.1 billion.
October 26, 2023 | 5:28 pm
News sentiment analysis
Sort by:
Ascending
POSITIVE IMPACT
Honeywell reported Q3 FY23 sales of $9.21 billion, up 3% Y/Y, but missed the consensus. Adjusted EPS was $2.27, beating the consensus. The company reported a significant increase in order volumes in Q3, leading to a high backlog.
Honeywell's Q3 FY23 sales increased by 3% Y/Y, but missed the consensus, which might have a negative impact on the stock. However, the company's adjusted EPS beat the consensus, which is positive news for the stock. Additionally, the company reported a significant increase in order volumes, leading to a historically high backlog, which indicates strong future performance. Therefore, the overall impact on the stock is likely to be positive in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100