Earnings Preview: Honeywell International Inc. (NYSE: HON): Third Quarter 2010
Monday, October 04, 2021 12:59 PM

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Honeywell International Inc. (NYSE: HON) is scheduled to release its fiscal third-quarter earnings before the opening bell on Friday, October 22, 2010. Analysts, on average, expect the company to report earnings of 62 cents per share on revenue of $8.21 billion. In the year ago period, the company reported earnings of 80 cents per share on revenue of $7.70 billion.

Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide.The company operates in four business segments: aerospace, automation and control solutions, specialty materials and transportation systems. The company works extensively on a variety of industrial and power projects.

In the preceding second quarter, the Morris Township, New Jersey-based company's net income was $468 million, or 60 cents per share, compared to $450 million, or 60 cents per share, in the year-ago quarter. On an adjusted basis, the company earned 78 cents per share in the second quarter. Revenue rose to $8.16 billion from $7.57 billion. Analysts, on average, expected the company to report earnings of 57 cents per share on revenue of $8 billion.

The diversified technology and manufacturing company has benefited from improved demand for both its short- and long-cycle businesses. Late in July, the company boosted its fiscal 2010 financial guidance. It expects to report earnings in the range of $2.40 to $2.50 per share on a reported basis and $3.14 to $3.24 per share, excluding non-cash pension expense. Previously, the company had projected fiscal 2010 earnings in the range of $2.30 to $2.45 per share and adjusted earnings in the range of $3.07 to $3.22 per share. The company raised its 2010 sales outlook to a range of $32.4 billion to $32.9 billion, from its previous forecast in the range of $31.5 billion to $32.3 billion. Analysts currently expect the company to report earnings of $2.48 per share on revenue of $32.15 billion.

Recently, the company said that it expects the global turbo segment to double in the next five years to 35 million new turbo vehicles from 17 million in 2009. The company also anticipates the global turbocharged commercial vehicle engine segment to grow to six million engines in 2015 from 3.5 million engines last year.

Honeywell is expanding rapidly expanding its operations in China. The company has a presence in 12 cities across the country through its subsidiaries, branch offices and research centers and a staff population of more than 4,000 strong. Honeywell expects its China sales to grow 15 to 20 percent a year over the next five years, driven by the explosive growth in aerospace and automotive sectors and an increased focus on energy efficiency and environment control.

In terms of stock performance, Honeywell shares have gained nearly 10% since the beginning of the year.

Disclosure: Author doesn't own any of the stocks discussed here.

 

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