Honeywell Aerospace Advances Drive Solid Q1 Results, Exceed Expectations
Portfolio Pulse from Akanksha Bakshi
Honeywell International Inc (NASDAQ:HON) reported Q1 fiscal 2024 sales of $9.105 billion, a 3% increase Y/Y, beating consensus estimates. Adjusted EPS was $2.25, surpassing the $2.17 consensus. The growth was driven by Aerospace Technologies and Energy and Sustainability Solutions. The company also announced the acquisition of Civitanavi Systems to enhance its Aerospace navigation offerings. Honeywell expects Q2 sales between $9.2 billion and $9.5 billion, with adjusted EPS of $2.25 to $2.35. The 2024 outlook anticipates sales between $38.1 billion and $38.9 billion, with adjusted EPS of $9.80 to $10.10.
April 25, 2024 | 3:43 pm
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Honeywell International Inc reported strong Q1 fiscal 2024 results with sales and EPS exceeding expectations, driven by growth in Aerospace Technologies and Energy and Sustainability Solutions. The company also announced the acquisition of Civitanavi Systems, aiming to strengthen its Aerospace navigation offerings.
The positive earnings report and the acquisition announcement are likely to instill investor confidence in Honeywell's growth trajectory and strategic direction, potentially leading to a short-term uptick in stock price.
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