NASDAQ$HON
Honeywell International Inc · Q1 2022 earnings
Q1 2022 earnings · · Investor relations
Briefing
Honeywell's first quarter results were strong, with adjusted EPS exceeding the high end of the guidance range. The company raised its full-year adjusted EPS range by 10 cents and the midpoint of sales guidance.
Honeywell announced strong first-quarter results, meeting or exceeding guidance despite a challenging operating environment. The company reported a 1% increase in organic sales and an adjusted EPS of $1.91, exceeding the high end of the guidance range. As a result, Honeywell raised the midpoint of its full-year sales guidance and increased its full-year adjusted earnings per share guidance.
- Sales of $8.4 billion were at the high end of previous guidance, down 1% year over year, but up 1% on an organic basis.
- Earnings per share was $1.64, and adjusted earnings per share was $1.91, exceeding the high end of the guidance range.
- $2.0 billion in capital was deployed, including $1.0 billion to share repurchases as part of a $4 billion commitment in 2022.
- The company raised its 2022 adjusted EPS range and the midpoint of sales guidance.
Headline financials
Revenue & EPS history
Honeywell · Revenue · Quarterly
$8.38B
Revenue by segment
Honeywell · $5.82B total across 3 segments · Q1 2021
- Energy & Sustainability$2.35B—40.3%
- Industrial Automation$2.12B—36.4%
- Building Automation$1.36B—23.3%
Forward guidance
Honeywell expects full-year sales to be in the range of $35.5 billion to $36.4 billion, up 4% to 7% organically. Adjusted earnings per share is expected to be in the range of $8.50 to $8.80. Operating cash flow is expected to be in the range of $5.7 billion to $6.1 billion, and free cash flow is expected to be $4.7 billion to $5.1 billion.
Tailwinds
- Full-year sales are expected to be in the range of $35.5B - $36.4B.
- Organic growth is expected to be between 4% - 7%.
- Segment margin expansion is expected to be in the range of 10 to 50 basis points.
- Adjusted earnings per share is now expected to be in the range of $8.50 to $8.80.
- Operating cash flow is expected to be in the range of $5.7B - $6.1B.
Headwinds
- Full year organic growth excluding impact of COVID-driven mask sales declines and lost Russian sales is expected to be 6%-9%.
- Segment margin expansion includes an approximate (30) basis point impact from investments in the Quantinuum business.
- Free cash flow is expected to be $4.7B - $5.1B.
- Operating margin contracted by 260 basis points to 15.2% due to a $183 million charge related to the substantial suspension of its operations in Russia
- Safety and Productivity Solutions sales for the first quarter decreased 15% on an organic basis year over year due to lower personal protective equipment and warehouse automation volume.
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 2022
+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
| Quarter | Report date | Reaction (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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