Stay Informed. Stay Competitive. Get Free Email Updates Dow 30 & Emerging Growth

Stay Informed. Stay Competitive.

Get Free Updates

Dow 30 & Emerging Growth

Honeywell Reports Q1- Battles Amid Slow Recovery In Its Aerospace Business

By John F. Heerdink, Jr.

Honeywell International In. (HON) released first-quarter earnings recently, reporting an EPS of $1.92 per share, beating market estimates of $1.80 per share. Net income dropped nearly 10% to $1.43 billion in the quarter. The company now expects full-year sales to be between $34 billion and $34.8 billion, up from its prior forecast of $33.4 billion to $34.4 billion. A boom in online shopping during the pandemic had boosted sales of its warehouse automation unit.

Honeywell raised supply constraints issues in the second quarter citing a shortage of semiconductors. Sales of Honeywell’s safety and productivity solutions business increased 49%, assisting the company to top profit and revenue estimates. Honeywell who manufactures aircraft parts for Boeing Co and Canada’s Bombardier Inc witnessed and suffered from revenue decline after the COVID-19 pandemic brought air travel to a standstill.

Amid rising infection rates and the low holiday, travel rate led to fewer flight hours and hitting the company’s air transport aftermarket sales, which dropped 48% from last year.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. 

Stay Informed! Stay Competitive! Please join us at Vista Partners and receive our FREE email updates throughout the week and view our exclusive content and research.

(Read Original Story: Honeywell sees slow recovery in commercial aerospace business, shares fall in Reuters)


Subscribe for FREE Email Updates & Access To EXCLUSIVE Research!

Connect with us