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.

Honeywell (NASDAQ: HON) has declared a quarterly dividend of $1.03 per share on its common stock, marking its commitment to returning value to shareholders. This payment will be made on June 2, 2023, to shareholders on record by May 12, 2023. The announcement underscores the company’s financial health and confidence in sustainable operations. Honeywell continues to deliver technological solutions across various industries, aimed at improving safety, sustainability, and efficiency. As part of its ongoing strategy, the firm emphasizes its readiness to navigate market challenges while maintaining shareholder returns.

Honeywell (Nasdaq: HON) has developed a real-time health monitoring system designed to enhance patient monitoring and care delivery in various settings. This innovative solution utilizes advanced sensing technology through a skin patch that tracks vital signs and connects data directly to healthcare providers' mobile devices. With projections of a physician shortage by 2034, this system enables remote patient monitoring, allowing clinicians to respond more effectively to changes in patients' conditions, thus improving efficiency and reducing administrative burdens. The system aims to enhance patient satisfaction by providing care in familiar environments while potentially decreasing hospital readmissions.

Honeywell's (NASDAQ: HON) 1-megawatt generator will power FLYING WHALES' new hybrid-electric airship, the LCA60T, under a signed contract. This airship, measuring 200 meters and capable of carrying 60 tons, aims to transport heavy loads with reduced environmental impact. The generator boasts high power density and can also function as an electric motor. The LCA60T will utilize a hybrid propulsion system combining jet fuel and sustainable aviation fuel. Honeywell's technology aims to revolutionize air transport, with the first flight planned for 2025 and a goal to manufacture 150 units in the next decade.

Honeywell (NASDAQ: HON) is set to release its first quarter financial results before the Nasdaq opens on April 27, 2023. A conference call will follow at 8:30 a.m. EDT where investors can gain insights into the company's performance. The event will be webcast live, and materials will be available on Honeywell's Investor Relations website. This Q1 report is crucial for stakeholders looking to assess the company's financial health and future outlook.