NASDAQ$HON

Honeywell International Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Honeywell overdelivered on all guided metrics, raised full-year sales and adjusted EPS guidance.

Honeywell's Q1 2021 results exceeded expectations with sales of $8.5 billion, flat year-over-year, and adjusted EPS of $1.92, surpassing the high end of guidance. The company raised its full-year sales guidance and the midpoint of its adjusted EPS and cash flow guidance, driven by strong performance in Warehouse and Workflow Solutions and personal protective equipment businesses.

  • Delivered Double-Digit Sales Growth in Safety and Productivity Solutions; Returned to Sales Growth in Honeywell Building Technologies
  • Expanded Segment Margin in Aerospace, Honeywell Building Technologies, and Safety and Productivity Solutions
  • Delivered Earnings Per Share of $2.03, Adjusted EPS of $1.92, Exceeding High End of Guidance Range by 9 Cents
  • Deployed $3.0 Billion in Capital to Acquisitions, Share Repurchases, Dividends, and Capital Expenditures

Headline financials

Total Revenue

$8.45B

Previous: $8.46B-0.1%
EPS (adj)

$1.92

Previous: $2.21-13.1%
Organic Sales Growth

-2.0%

No prior period
Operating Margin

17.8%

Previous: 20.0%-11.0%
Segment Profit Margin

21.0%

Previous: 21.8%-3.7%
Capital Expenditures

-$221M

Previous: -$139M-59.0%
Free Cash Flow

$1.21B

Previous: $1.44B-16.4%
Net Income

$1.43B

Previous: $1.58B-9.7%
Operating Income

-$7.07B

Previous: -$6.86B-3.0%
Gross Profit

$2.75B

Previous: $2.93B-6.3%
Cash & Equivalents

$11.7B

Previous: $7.72B+51.8%
Total Assets

$63.6B

Previous: $57.4B+10.7%
Stock-Based Comp

$77M

Previous: $44M+75.0%

Revenue & EPS history

Honeywell · Revenue · Quarterly

$8.45B

Q1 2021-0.1%vs Q1 2020
Beat estimate in 14 of 16 quarters(88%)
ActualEstimate

Revenue by segment

Honeywell · $5.82B total across 3 segments · Q1 2021

  • Energy & Sustainability
    $2.35B
  • Industrial Automation
    $2.12B
  • Building Automation
    $1.36B

Forward guidance

Honeywell raised its full-year sales guidance and the midpoint of its adjusted earnings per share and cash flow guidance.

Tailwinds

  • Full-year organic sales growth is now expected to be in the range of 3% to 5%.
  • Adjusted earnings per share is expected to be $7.75 to $8.00, up 15 cents from the low end of the prior guidance range.
  • Operating cash flow is now expected to be in the range of $5.8 billion to $6.1 billion
  • Free cash flow is now expected to be in the range of $5.2 billion to $5.5 billion.
  • The company is well positioned for the recovery to come.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+0.6%

Avg return

Earnings day

+0.4%

Avg return

5 days after

+2.0%

Avg return

30 days after

60%

44 / 73 earnings

Positive

+7.7%

Q3 2022

Best reaction

-7.7%

Q4 2021

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.5%-3.2%+3.6%
Q4 2025+4.5%+6.6%+12.4%
Q3 2025+6.4%+3.8%-2.4%
Q2 2025-0.7%-1.4%-3.8%
Q1 2025+5.4%+6.7%+12.2%
Q4 2024-5.6%-6.9%-3.5%
Q3 2024-5.6%-6.5%+4.0%
Q2 2024-5.1%-5.2%-5.2%
Q1 2024-0.7%-1.1%+2.5%
Q4 2023-3.0%-4.3%-1.8%
Q3 2023-0.6%+2.9%+8.6%
Q2 2023-6.3%-7.1%-10.5%
Q1 2023+4.7%+3.9%+1.5%
Q4 2022-1.9%-0.6%-4.8%
Q3 2022+7.7%+6.7%+15.7%
Q2 2022+4.8%+3.0%+5.1%
Q1 2022+3.7%+8.4%+3.4%
Q4 2021-7.7%-6.3%-9.7%
Q3 2021-3.1%-3.9%-2.7%
Q2 2021-1.5%-1.0%-2.2%
Q1 2021-3.4%-2.8%-2.6%
Q4 2020-3.6%-1.8%-0.2%
Q3 2020+5.5%+8.7%+27.2%
Q2 2020-1.9%+0.6%+2.5%
Q1 2020-4.7%-6.2%+2.8%
Q4 2019-3.9%-0.8%-9.1%
Q3 2019+1.2%+3.2%+11.1%
Q2 2019+2.6%+3.7%-2.1%
Q1 2019+3.3%+5.5%+4.3%
Q4 2018+3.0%+3.7%+8.4%
Q3 2018-1.7%-6.3%-1.2%
Q2 2018+4.2%+7.1%+5.2%
Q1 2018+0.3%-0.7%+0.1%
Q4 2017-0.2%-1.3%-4.2%
Q3 2017+1.6%+1.7%+2.0%
Q2 2017+2.0%+2.6%+0.0%
Q1 2017+4.9%+5.1%+6.2%
Q4 2016+1.0%+0.0%+6.0%
Q3 2016+1.0%+1.2%+3.7%
Q2 2016-2.7%-3.1%-2.1%
Q1 2016-1.5%
Q4 2015+5.0%
Q3 2015-1.3%
Q2 2015+2.7%
Q1 2015-1.3%
Q4 2014+2.5%
Q3 2014+4.2%
Q2 2014+2.3%
Q1 2014-0.1%
Q4 2013+0.5%
Q3 2013-2.4%
Q2 2013+0.1%
Q1 2013+4.4%
Q4 2012+1.0%
Q3 2012+1.4%
Q2 2012+6.3%
Q1 2012+2.1%
Q4 2011+0.7%
Q3 2011+6.9%
Q2 2011-3.3%
Q1 2011+2.7%
Q4 2007+0.2%
Q4 2010+0.2%
Q3 2010+1.8%
Q2 2010-0.5%
Q1 2009+1.7%
Q1 2010+0.2%
Q4 2009+1.8%
Q3 2008-2.1%
Q3 2009-2.1%
Q4 2008+2.8%
Q2 2009+2.8%
Q2 2008+2.8%

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