Honeywell Intl Inc Stock Price, News & Analysis

Honeywell reported sales of $8.9 billion for Q1 2023, a 6% year-over-year increase. Organic sales grew by 8%, driven by double-digit growth in Aerospace and Performance Materials. The operating margin expanded to 19.1%, an increase of 390 basis points. Earnings per share (EPS) reached $2.07, surpassing guidance by 11 cents. The backlog increased to a record $30.3 billion, marking a 6% year-over-year rise. Honeywell also announced a $670 million acquisition of Compressor Controls Corporation and raised the midpoint of its full-year EPS guidance by 13 cents.

Overall, the company is optimistic about 2023, citing strong positions in various markets and a favorable backlog.

Honeywell has announced its agreement to acquire Compressor Control Corporation (CCC) for $670 million, which is approximately 15 times the estimated EBITDA for 2023 on a tax-adjusted basis. This all-cash transaction is expected to close in the second half of 2023, pending regulatory approvals. CCC enhances Honeywell's Process Solutions division by adding over 14,000 control applications and bolstering its sustainability portfolio with new carbon capture solutions. The acquisition is projected to be immediately accretive to GAAP EPS and generate a cash-basis return on investment of about 15% in five years. Honeywell aims to leverage CCC's performance analytics and optimization software to improve asset performance management across the LNG, gas processing, refining, and petrochemical sectors.

Honeywell (NASDAQ: HON) has partnered with Globalworth, a prominent real estate investor in Central and Eastern Europe, to implement its Honeywell Forge for Buildings solutions in commercial office buildings across Romania and Poland. This collaboration focuses on enhancing operational efficiency, reducing energy consumption, and improving the occupant experience. The buildings sector is responsible for a significant percentage of energy consumption and CO2 emissions, with Honeywell's technology aiming to mitigate these impacts through machine learning and centralized control for building management.

Globalworth's CEO, Dennis Selinas, emphasizes the commitment to sustainability and tenant satisfaction through advanced digital solutions. The partnership underscores Honeywell's role in promoting energy efficiency and operational excellence in the real estate industry.