Honeywell Beats On Q2 Earnings, Thanks To Aerospace Strength; Lowers FY24 EPS Outlook
Honeywell Beats On Q2 Earnings, Thanks To Aerospace Strength; Lowers FY24 EPS Outlook
Adjusted EPS was $2.49 (+8% Y/Y), beating the consensus of $2.42.Honeywell International Inc. (NASDAQ:HON) shares are trading lower after the company reported second-quarter results and lowered FY24 EPS guidance.
霍尼韋爾國際公司（納斯達克：HON）發佈二季度業績報告並下調2024財年每股收益預期後，其股價下跌。
Revenue grew 5% Y/Y (organic: +4% Y/Y) to $9.58 billion, beating the consensus of $9.41 billion.
營業收入同比增長5％（有機增長：同比增長4％），達到95.8億美元，超過了預期的94.1億美元。
The sales increase was attributed to double-digit organic sales growth in defense and space, commercial aviation, and building solutions.
空軍和太空、商用航空和建築解決方案中，有機銷售增長率均達到兩位數，是銷售額增長的原因之一。
Adjusted EPS was $2.49 (+8% Y/Y), beating the consensus of $2.42.
調整後的每股收益爲2.49美元（同比增長8％），超過了預期的2.42美元。
Sales by Segments: Aerospace Technologies $3.89 billion (+16% Y/Y), Industrial Automation $2.51 billion (-8% Y/Y), Building Automation $1.57 billion (+4% Y/Y) and Energy and Sustainability Solutions $1.60 billion (+2% Y/Y).
各板塊銷售額：航天技術389億美元（同比增長16％），工業自動化251億美元（同比下降8％），建築自動化157億美元（同比增長4％）及能源化工16億美元（同比增長2％）。
Operating margin expanded by 10 bps Y/Y to 20.7%, and Segment margin contracted by 10 bps Y/Y to 23.0% in the quarter.
營業利潤率同比擴大10個點子，達到20.7％，而板塊利潤率在本季度同比收縮10個點子，降至23.0％。
Operating cash flow stood at $1.4 billion and free cash flow was $1.1 billion.
經營性現金流爲14億美元，自由現金流爲11億美元。
Also Read: Honeywell Gears Up United Airlines' New 737 MAX with Cutting-Edge Avionics: Details
另外：霍尼韋爾爲聯合大陸航空的新737 MAX裝備了尖端的航電系統。
Honeywell chairman and CEO Vimal Kapur said, "While Aerospace continues to lead our growth, we are seeing broader participation across our portfolio, with three of our four segments contributing positive growth for the quarter. All four segments grew sequentially in the quarter as well, giving us further confidence in our expectation of a second half organic growth acceleration."
霍尼韋爾董事長兼首席執行官維馬爾·卡普爾表示：“儘管航空業務仍然是我們增長的主要推動力，但我們看到端到端解決方案在產品組合的各個板塊中得到廣泛的確認，其中三個板塊爲本季度的增長做出了積極貢獻。四個業務板塊在本季度的銷售量都實現了環比增長，這進一步增強了我們對下半年有機增長加速的預期。”
"We also recently announced two additional deals – the $1.9 billion acquisition of CAES Systems and the $1.8 billion acquisition of Air Products' LNG process technology and equipment business."
他補充道：“我們最近還宣佈了兩筆重要交易—19億美元收購CAES Systems以及18億美元收購空氣產品的液化天然氣工藝技術和設備業務。”
Related: Honeywell Swoops In To Acquire CAES For $1.9B, Boosts Defense Business
另見：霍尼韋爾以19億美元收購CAES，推動國防業務發展。
"We continue to make significant progress on my key priorities for Honeywell as we accelerate our alignment to three powerful megatrends – automation, the future of aviation, and energy transition, all underpinned by digitalization."
他表示：“我們在加速與三大趨勢-自動化、航空未來和能源轉型的戰略對齊方面，取得了重要進展，所有這些戰略都是以數字化爲基礎。”
Honeywell held cash and equivalents of about $9.8 billion as of June-end.
截至6月底，霍尼韋爾擁有約98億美元的現金及現金等價物。
The company deployed $6.4 billion of capital to share repurchases, dividends, and capital expenditures.
該公司用於股票回購、分紅和資本支出方面的資本投入爲64億美元。
FY24 Outlook: The company raised sales growth to $39.10 billion-$39.70 billion (from $38.5 billion – $39.3 billion) versus the consensus of $38.76 billion.
2024財年展望：該公司將銷售增長預期上調至391億美元至397億美元(原預期爲385億至393億)，超過預期的387.6億美元。
Honeywell lowered adjusted EPS guidance to $10.05-$10.25 (from $10.15-10.45) versus the estimate of $10.25.
霍尼韋爾將調整後的每股收益指引下調至10.05美元至10.25美元(原爲10.15美元-10.45美元)，低於10.25美元的預期。
Also, Honeywell reduced the outlook for segment margin to 23.3%-23.5% (from 23.8%-24.1%), with segment margin contraction of 20 bps- flat.
此外，公司把板塊利潤率指引下調至23.3％-23.5％(原爲23.8％-24.1％)，仍會有20個點子到持平的板塊利潤率收縮。
The company now expects an operating cash flow of $6.6 billion- $7.0 billion and a free cash flow of $5.5 billion – $5.9 billion.
該公司現預計，運營現金流爲66億美元至70億美元，自由現金流爲55億美元至59億美元。
Investors can gain exposure to the stock via Gabelli Commercial Aerospace And Defense ETF (NYSE:GCAD) and Invesco Aerospace & Defense ETF (NYSE:PPA).
投資者可以通過Gabelli商業航空和國防ETF（NYSE:GCAD）和景順航空與國防ETF（NYSE:PPA）獲得該股票的暴露。
Price Action: HON shares are down 4.52% at $204.00 premarket at the last check Thursday.
截至上週四，霍尼韋爾股價以204.00美元跌4.52%。
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